Industries

Sands China Raises $2.5 Billion in Hong Kong Share Sale at Bottom of Range Sands China Ltd. and its parent, the casino company controlled by billionaire Sheldon Adelson, raised HK$19.4 billion ($2.5 billion) in a Hong Kong initial public offering conducted at the bottom of the marketed range.

Consumer Spending, Home Sales Probably Rose as U.S. Recovery Takes Root Consumer spending probably rebounded in October, showing that mounting unemployment is restraining, not derailing, the biggest part of the U.S. economy, analysts said before reports this week.

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Oil Rises From One-Week Low on Speculation Demand to Recover With Economy Crude oil rose from a one-week low on speculation demand will increase as the global economy recovers from its worst recession since World War II.

Reliance Industries Makes Offer for Bankrupt LyondellBasell to Grow Abroad Reliance Industries Ltd., India’s biggest company by market value, bid for bankrupt chemicals and fuels maker LyondellBasell Industries AF, as it seeks to take advantage of the global financial crisis to expand overseas.

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Bank of America May Name Stopgap CEO to Allow Board More Time for Search Bank of America Corp.’s board may extend its search for a new, permanent chief executive officer into 2010 if directors can’t settle on a candidate in the next four days, according to people familiar with the matter.

France May Seek to Arrange Societe Generale-Dexia Merger, WanSquare Says The French government may try to merge Societe Generale SA and Dexia SA, news agency WanSquare reported, without saying where it got the information.

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Senate Begins Debate Next Month on $848 Billion U.S. Health-Care Overhaul Democrats united to bring a sweeping health-care plan to the U.S. Senate floor in a party-line vote that kept Republicans from blocking debate on President Barack Obama’s top domestic initiative.

Mutated Swine Flu Strains in U.S., Europe, Resist Drugs, Worsen Illness Swine flu infections in which the virus mutated to a form that’s more severe or less sensitive to drug treatment are being investigated by European and U.S. public health officials.

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U.K. Flood Claims May Reach as Much as $165 Million for Insurers, ABI Says The cost to insurance companies of this week’s flooding in parts of the U.K. may be as much as 100 million pounds ($165 million), according to the Association of British Insurers.

AIG Investment Unit Renamed PineBridge Before Sale to Li's Pacific Century American International Group Inc.’s fund management arm has been renamed PineBridge Investments as the bailed-out insurer prepares to sell the unit to Pacific Century Group.

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Housing Recovery in U.S. Set Back to 2010 With Market on `Life Support' A recovery in U.S. housing will have to wait at least until next year.

Morgan Stanley Hands Over Crescent to Barclays to Win Forgiveness of Loan Morgan Stanley agreed to hand over a real-estate business acquired in 2007 to Barclays Capital, ending the New York firm’s obligation on a $2 billion loan after taking almost $1 billion in losses.

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Oracle $7.4 Billion Sun Takeover May Be Blocked by EU on Competition Issue Oracle Corp.’s planned $7.4 billion purchase of Sun Microsystems Inc. may be blocked by European Union regulators because of concerns Oracle might be able to eliminate Sun’s MySQL database product as a competitor, according to an EU document.

News Corp., Time Warner Said to Be Interested in Buying MGM Film Studio News Corp., Time Warner Inc., and Qualia Capital LLC are interested in buying the Metro-Goldwyn- Mayer Inc. film studio, owner of the “James Bond” franchise, according to people with knowledge of the situation.

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British Airways May Revisit Qantas Deal, Use Iberia Model, Walsh Tells FT British Airways Plc may reconsider a tie-up with Australia’s Qantas Airways Ltd. mirrored on the structure of its merger with Spain’s Iberia Lineas Aereas de Espana SA, the Financial Times reported.

Qatar Plans $25 Billion Railway Network, Forms Venture With Deutsche Bahn Qatar, the world’s largest producer of liquefied natural gas, expects the construction of a railway system will cost 17 billion euros ($25.3 billion) as the Persian Gulf state seeks improved transport links with its neighbors.

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