Victoria's Secret to Go Private at $1.1 Billion Valuation 
 

L Brands Inc. is near a deal to sell control of Victoria's Secret to a private-equity firm in a transaction that values the lingerie brand at about $1.1 billion, according to people familiar with the matter.

 
Petrobras Fourth-Quarter Net Income Almost Quadrupled 
 

Brazilian oil giant PetrĂ³leo Brasileiro SA, or Petrobras, said Wednesday that profit in the fourth quarter rose as new platforms in the company's rich offshore fields boosted output and cut production costs.

 
UBS CEO Ermotti Steps Down, ING's Hamers Named New Chief 
 

UBS Group Chief Executive Sergio Ermotti is stepping down and will be succeeded by current ING Groep boss Ralph Hamers, marking another leadership change at a major Swiss bank.

 
Federal Judge Slams PG&E's Efforts to  Prevent Wildfires 
 

U.S. District Judge William Alsup lambasted PG&E Corp. for falling behind on tree-trimming efforts near power lines to reduce the risk that they will spark more wildfires.

 
France Deepens Probe of Ghosn 
 

An investigation into spending authorized by Carlos Ghosn when he was Renault CEO has been turned up a notch by French prosecutors.

 
Investment Firm Buys Taxi-Medallion Loan Portfolio 
 

An investment firm known for buying up distressed assets has become the largest single owner of New York City taxi-medallion loans.

 
GE, Stung by Boeing Pullback, Pitches for New Business With Airbus 
 

General Electric is looking for new business from Airbus, as the engine maker's other big customer, Boeing, retrenches.

 
More Investment Funds Reduce Ties With Sacklers 
 

Two hedge funds are reducing their ties to the embattled family that owns OxyContin maker Purdue Pharma.

 
Diageo Settles for $5 Million With SEC on Profit-Boosting Charges 
 

Diageo has agreed to pay $5 million to settle charges brought by the Securities and Exchange Commission that it hit performance goals by pressuring distributors to buy products in excess of demand.

 
Airbus Defense and Space in Talks With European Works Council Over Restructuring 
 

Airbus said Wednesday that its defense-and-space division has entered a consultation process with the European Works Council on its planned restructuring.

 
 

(END) Dow Jones Newswires

February 19, 2020 23:00 ET (04:00 GMT)

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