IPO Markets Don’t Need Alibaba for Best Quarter Since 2010

By Leslie Picker, Ruth David and Fox Hu

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• Demand Seen for Growth Among IPOs: UBS's McCartney

Ali...who? One company dominated the conversation about initial public offerings in the third quarter, and for good reason: Alibaba Group Holding Ltd. (BABA) raised a record-breaking $25 billion in the U.S. this month.
Leave it out of the total raised, though, and the three months through September were still the busiest for IPOs in four years. From German online retailer Zalando SE to WH Group Ltd. (288), the world’s largest pork producer, companies raised $41.8 billion through yesterday, data compiled by Bloomberg show. In the U.S., it was the busiest third quarter in more than a decade -- also without Alibaba included.
Record stock prices are drawing sellers to the

UBS Said to Pay $1.4 Billion Bail in France Tax Probe

By Fabio Benedetti-Valentini

UBS AG (UBSN) is poised to pay a record 1.1 billion-euro ($1.4 billion) security deposit in a French tax-evasion case as it challenges the allegations and bond demand, according to a person with knowledge of the investigation.
UBS is proceeding with the payment due today after a Paris appeals court last week upheld a July order by French prosecutors, said the person, who asked not to be identified because the matter is private. The deposit covers a potential criminal penalty.
“UBS doesn’t comment on procedural steps,” said Dominique Gerster, a UBS spokesman. UBS, based in Zurich, plans to appeal the bond demand at France’s highest court and it’s also challenging the judicial process, including the right to a fair trial, the bank said on Sept. 22.
Any further appeal by UBS to France’s highest court, the

Europe Stocks Rise as Euro Extends Drop; Gold Declines

By Nick Gentle and Claudia Carpenter  

Photographer: Lam Yik Fei/Bloomberg

Demonstrators gather near the central government offices in the business district of... Read More

Related

• Europe Won't See Quantitative Easing at All: Hewson
• Investment Opportunity in China's Rebalancing
• HK Protesters Set Deadline for Demands

European stocks rose with U.S. equity-index futures (SPX) and the euro fell to a two-year low as the region’s inflation slowed. Gold dropped to the lowest this year.
The Stoxx Europe 600 Index advanced 0.6 percent at 7:11 a.m. in New York and Standard & Poor’s 500 Index futures gained 0.3 percent. The Bloomberg Dollar Spot Index climbed 0.4 percent and the euro declined 0.7 percent to $1.2592. The yield on 10-year Treasury notes jumped four basis points to 2.52 percent. Gold declined 0.7 percent.
Consumer prices in the euro region rose an annual 0.3 percent in September, following a reading of 0.4 percent in August, the

Hong Kong Economic Resilience Forged in Crises Faces Test

By Bloomberg News  

Sept. 30 (Bloomberg) -- Pro-democracy protests swelled in Hong Kong on the eve of a two-day holiday that may bring record numbers to rallies spreading throughout the city as organizers pressed demands for free elections. Bloomberg’s Andrew Davis reports on “Bloomberg Surveillance.” (Source: Bloomberg)

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• Hong Kong’s Complicated Relationship With Beijing
• Hong Kong Protesters' Objectives `Unrealistic': Ip
• Hong Kong Protests to Have `Major Impact' on Retail

Having prospered through the handover to China, Asia’s financial crisis and the SARS epidemic, Hong Kong’s resilience is being tested again.
Stocks slumped and the near-term economic outlook deteriorated after weekend clashes between police and pro-democracy demonstrators on a scale not seen since the 1960s. Tens of thousands poured back into the streets yesterday evening to press demands for free and open elections and the resignation of Chief Executive Leung Chun-ying.
“If we see an escalation of disturbances to the point where growth is weakened or where confidence in the territory’s basic stability is endangered, then that could be a negative rating trigger,” Andrew Colquhoun, head of Asia-Pacific sovereigns at Fitch Ratings, told Rishaad Salamat on

Hong Kong Protests Grow at Start of Two Day Holiday

By Bloomberg Newts

Sept. 29 (Bloomberg) -- Bloomberg’s Scarlet Fu explores the history behind Hong Kong and Beijing relationship as protestors take to the streets to demand free and open elections in 2017. She speaks on “Market Makers.”

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• Hong Kong Protesters' Objectives `Unrealistic': Ip
• Hong Kong Protesters Won't Surrender, Lee Says
• U.S. Closely Watching Hong Kong Protests: Earnest
• Hong Kong Protesters Want `Genuine Democracy': Lau

Pro-democracy protests swelled in Hong Kong on the eve of a two-day holiday that may bring record numbers to rallies spreading throughout the city as organizers pressed demands for free elections.
With the workday ended and temperatures dropping, thousands of people were returning to the three main demonstration points, blocking some of the city’s roadways. Hong Kong marks China’s National Day tomorrow, the 65th anniversary of the founding of the People’s Republic of China and Chung Yeung Festival on Thursday, when Hong Kong people honor their ancestors.
“It’s quite possible that at

Ethiopia: Hilton Worldwide Unveils New Modular Hilton Garden Inn

Hilton Worldwide, one of the leading brands in the global hospitality industry, has unveiled a new modular Hilton Garden Inn building solution for upcoming African Projects. Senior executives of the global brand announced this today where they have gathered to participate in the Africa Hotel Investment Forum (AHIF) 2014 to be officially opened tomorrow at the Sheraton Addis Ababa.
Constructed in China by CIMC Modular Building Systems, modular guest room and hallways are built entirely in manufacturing plant conditions - leading to benefits of faster development, streamlined design, efficiencies of cost as well as quality control assurance, according a statement from the Hilton Worldwide.
As an already established technology in

Zimbabwe: U.S. $100 Million Needed to Refurbish Beitbridge Border Post

FINANCE Minister Patrick Chinamasa has said the government needs about $100 million to refurbish the Beitbridge border post to international standards.
The minister said the government was working towards engaging the Common Market for Eastern and Southern Africa (Comesa) to fund the project.
"Beitbridge being the busiest entry point in southern Africa continues to be a major bottleneck to the smooth flow of traffic, both goods and people due to inadequate facilities.
"However upgrading of the infrastructure at the border post is estimated to cost about $100 million," Chinamasa said.
The redevelopment of Beitbridge will encompass the upgrading of the road network to and from the bridge, perimeter fencing and

Nigeria: Lagos Employs 80 Female Lagbus Drivers

By Monsur Olowoopejo

\Llagos--Lagos State Government yesterday said it had employed additional 80 women as mass transit drivers, with Lagos Bus Asset Management Company, LAGBUS, as part of its
This came as it commenced training of 998 drivers of LAGBUS on accident prevention skills.
Managing Director, LAGBUS, Mr. Babatunde Disu, who disclosed this, at the training for the fourth batch of LAGBUS captains at the Public Service Public Service Staff Development Centre, PSSDC Magodo, said the firm is committed to creating a modern, secure and sustainable bus transportation service designed for the special needs of Lagos, while also providing equal opportunities for the female gender.
Explaining the motive for the employment of

Nigeria: 'Lagos Govt Has Technically Taken Over Synagogue'

By Olasunkanmi Akoni

General Manager, Lagos State Building Control Agency, LASBCA, Mrs. Abimbola Animashaun-Odunayo, in this interview, speaks on the recent collapsed building belonging to the Synagogue Church of All Nations, SCOAN, the intricacies surrounding it, the next line of action by the state government, among others. Excerpts:
What actually went wrong with the SCOAN collapsed building?
We need support from stakeholders and everyone. Before now, we have been trying to curtail incidence of collapse building until we had the latest one. I think the problem of Synagogue Church of All Nations, SCOAN, brought the issue to the fore again. A lot of institutions are too secretive they will not allow government officials do

Nigeria: South Africans to Sue TB Joshua

Photo: SCOAN

T.B. Joshua.

Two South Africans, who lost relatives when a guest house at the Synagogue Church of All Nations (SCOAN) in Lagos collapsed, have told the BBC they intend to sue Nigerian evangelist TB Joshua.
The two men, who both lost sisters in the collapse, are appealing for more families to come together in bringing a case against the preacher.
At least 115 people, including 84 South Africans, died when