Postal Savings Bank of China IPO raises $7.4 billion after pricing at low end
State-owned Postal Savings Bank of China (PSBC) (1658.HK) raised $7.4 billion in the world's biggest initial public offering in two years, but the deal priced at the lower end of expectations and was heavily reliant on cornerstone investors.
Australian port sold for $7.3 billion to consortium; China fund among backers
A consortium of global and domestic funds, backed by investors including China Investment Corp, agreed to buy Australia's busiest port for a higher-than-expected A$9.7 billion ($7.3 billion), a sign that tough equity markets are helping fuel appetite for infrastructure.
The Obama administration on Thursday took action to limit the use of foreign tax credits by American multinational companies to reduce their U.S. tax bills, a move that followed an EU order that Apple Inc pay back taxes to Ireland.
Federal Reserve asks Congress to limit Wall Street merchant banking
The Federal Reserve Board recommended that Congress pare back Wall Street's ability to own physical commodities and engage in other aspects of merchant banking because of possible risks to the financial system, according to a report issued on Thursday.
Saudi Arabia Said to Weigh Canceling $20 Billion of Projects
Saudi Arabia is intensifying efforts to shrink the highest budget deficit among the world’s biggest 20 economies, aiming to cancel more than $20 billion of projects and slash ministry budgets by a quarter, people familiar with the matter said.
Fly economy class: even wealthy Qataris taste austerity
Fly economy class, share an office, cancel journal subscriptions: these are some of the requests being put to government employees in Qatar, as low energy prices force austerity even among the world's wealthiest citizens.