Saudi Arabia’s stock market, the Arab world’s largest bourse, is one step away from gaining approval to allow direct foreign investment into equities, according to two people with knowledge of the matter.
Saudi Arabia hired HSBC Holdings Plc to advise on a potential breakup of state-owned utility Saudi Electricity Co. into four independent power-generation companies, four people with knowledge of the matter said.
Rolls-Royce Motor Cars Ltd. , Bayerische Motoren Werke AG ’s luxury nameplate, plans to sell 800 cars in China in 2011 as it aims to raise sales eightfold in two years in the world’s largest auto market.
American Tower Corp., the biggest operator of cellular towers in the U.S., agreed to acquire the parent company of rival Global Tower Partners for about $3.3 billion, giving it thousands of additional wireless sites as the appetite for next-generation services grows.
Three former officers of Conversion Solutions Holdings Corp., based in Kennesaw, Georgia, were sentenced to prison terms as long as 23 years and ordered to make restitution of $44 million for running a so-called stock pump and dump scheme, the Justice Department said.
Bets against Canada’s three biggest wireless carriers have surged ahead of a deadline for the country’s spectrum auction that may include interest from foreign carriers such as AT&T Inc. and Telenor ASA.