Business

Nike Inc is accusing three of its former senior shoe designers of stealing its commercial secrets and making off for German rival Adidas AG, which announced in September the trio would staff its new urban footwear design studio in Brooklyn.

State-controlled oil company Petroleo Brasileiro SA and its top executives face a class-action lawsuit in a federal court in New York over an alleged contract fixing, bribery and kickback scheme that lawyers say inflated the value of the company's assets

Financial watchdogs are having to revise plans to regulate the world's biggest investment funds because original proposals would have made it more difficult for asset managers to invest in infrastructure projects that are key to reviving growth.