Bloomberg Australia’s scandal-plagued banks are set for their biggest upheaval in decades as a wide-ranging inquiry into misconduct recommends how the nation’s financial industry should atone for wrongdoings. In its final report to be released in Canberra, the government-appointed Royal Commi- ssion could propose financial firms be broken up to avoid conflicts of interest, push for changes to pay and …

Bloomberg The US retail apocalypse is far from over. While the collapse of storied merchants like Sears Holdings Corp. and Toys “R” Us Inc. has left stores shuttered across America, retailers still make up about a fifth of the universe of distressed borrowers. Consumer confidence is slumping. The head of the biggest mall owner in the US cautioned that more …

Bloomberg McDonald’s Corp. climbed after reporting an acceleration in global sales in the fourth quarter, offsetting US growth that was shy of estimates. The company’s overall same-store sales rose 4.4 percent, topping the 4 percent average of analysts’ estimates, according to Consensus Metrix. In the US, the increase of 2.3 percent was just short of projections. Sara Senatore, an analyst …