Apple has sold $17 billion worth of bonds, the biggest nonbank corporate-bond deal ever. Bids exceeded $50 billion, more than three times the amount offered. The deal clears the way for Apple to return $100 billion to shareholders by December 2015.
U.S. privately held companies have posted an annual sales increase of more than 10% for the period that ended in March, according to Sageworks. In the six months through March, the average private company had a 7.3% net profit margin. A year earlier, it was 4.5%.
Sales of fast food have overtaken sales at traditional restaurants in France, a nation that prides itself on culinary arts. Fast-food purchases account for 54% of restaurant sales, according to Gira Conseil, a food consultancy.