Atlanta / Bloomberg Hilton Worldwide Holdings Inc. said it will spin off its lodging properties and timeshare business into separate publicly traded companies in a bid to boost shareholder value as the world’s largest hotel operator faces increased competition. About 70 of the company’s 146 owned and leased properties — mainly the U.S. hotels — will be spun off into ...

Canberra / Bloomberg The cost of insuring the debt of Australia’s largest banks surged by the most in four years after a report by research firm Variant Perception fueled speculation about risks in the nation’s housing market. The average cost of credit default swaps for the four biggest Australian lenders surged by 18.6 basis points, the largest one-day increase since ...

Bloomberg Petroleo Brasileiro SA secured a $10 billion loan from the China Development Bank as the beleaguered state-owned oil producer endures the worst crude market in a generation and faces more than double that amount in maturities over the next two years. The lifeline is part of a deal to supply crude to the Asian country, Rio de Janeiro-based Petrobras ...