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.

 
Thiel Capital Spinout Valar Ventures Seeking $400 Million for Pair of Funds 
 

The firm is raising $200 million for Valar Fund VI LP, as well as $200 million for Valar Velocity Fund 2 LP, its second growth fund, according to a fundraising document viewed by WSJ Pro.

 
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.

 
Former PdVSA Procurement Manager Sentenced to Prison for Bribery Scheme 
 

Alfonzo Eliezer Gravina Munoz, 57 years old, allegedly received about $590,000 in bribes to help U.S. businessmen secure energy contracts with PdVSA from 2007 to 2014, the Justice Department said. He didn't report the bribes as income on his tax return, according to prosecutors.

 
More Investment Funds Reduce Ties With Sacklers 
 

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

 
 

(END) Dow Jones Newswires

February 20, 2020 01:15 ET (06:15 GMT)

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