ACE to Buy Chubb for $28.3 Billion 

ACE agreed to buy Chubb in a cash-and-stock deal valued at $28.3 billion that would combine two of the largest insurers.

 
Deutsche Bank's New Co-CEO Delays Strategy Update 

Deutsche Bank's incoming co-Chief Executive John Cryan postponed a detailed presentation of the giant German lender's new strategy to the end of October.

 
General Mills's Revenue Growth Weaker Than Expected 

General Mills reported weaker-than-expected revenue in its May quarter, as the food maker continues to struggle with changing consumer tastes.

 
Brookfield Approaches Australia's Asciano With $6.8 Billion 

Australian port-and-rail operator Asciano received a $6.8 billion offer from Brookfield Infrastructure Partners that would be one of Asia's biggest takeovers this year.

 
Arrested Toyota Executive Resigns 

Toyota Motor managing officer Julie Hamp, who was arrested last month in Tokyo on suspicion of violating Japan's drug laws, has resigned.

 
Ukraine Suspends Russian Natural Gas Purchases 

Ukraine's state oil and gas company Naftogaz said it had suspended natural gas purchases from Russian gas giant Gazprom because of the failure to agree a longer-term gas supply accord.

 
Greenbrier Revenue, Profit Growth Miss Expectations 

Greenbrier Cos. on Wednesday logged higher revenue and profit in its third quarter, though growth came in below Wall Street expectations.

 
McCormick & Co. Profit Dips as Dollar Dents Sales 

McCormick & Co. on Wednesday said profits dipped slightly in its latest quarter, as the stronger dollar continues to affect the spice maker's sales.

 
Portugal's Novo Banco Received Three Binding Offers 

Novo Banco, the Portuguese bank created out of failed lender Banco Espírito Santo SA last year, has received three binding offers that will be analyzed in the coming weeks.

 
Samsung Affiliates Clear Legal Hurdle for Merger 

A South Korean court rejected a motion by a U.S. hedge fund to block a planned $8 billion takeover deal at the Samsung conglomerate that is widely viewed as part of a transfer of management control.

 
Alibaba Strikes Entertainment Deal in China 

Alibaba, DMG Entertainment and Hunan Satellite Television are striking a deal to expand subscription-based Internet, cable and mobile entertainment to Chinese consumers.

 
Xiaomi Gets New CFO 

Shou Zi Chew joins Xiaomi as chief financial officer, another senior executive at the Chinese phone maker with an international background.

 
Airports Commission Backs Third Heathrow Runway 

London Heathrow airport has won the backing of a government-appointed panel for a third runway to address a looming runway capacity shortage that has threatened to stifle Europe's biggest market for trans-Atlantic flights.

 
South Africa Raises Cash for Ailing State Utility 

South Africa's government has sold its 14% stake in mobile operator Vodacom, raising around $2 billion in cash to help refinance the country's beleaguered state-owned power provider Eskom.

 
Puerto Rico Utility, Creditors Close to Deal to Avoid Default 

The Puerto Rico Electric Power Authority and its creditors were close to a deal that would allow the cash-strapped utility to pay more than $400 million to bondholders, staving off what investors feared might be the first default of many from the U.S. commonwealth.