Companies appear reluctant to step up spending on the basic building blocks of the economy. The broadest measure of U.S. business investment advanced 2.2% from a year earlier in the third quarter, the Commerce Department said last week, marking one of the worse performances of the six-year-old economic expansion. Source: WSJ
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The initial public offering is expected to be the world’s largest stock sale, and is a key component of the Saudi government’s economic reform program which aims to diversify the desert kingdom away from its reliance on oil exports. A private placement of shares in the state oil company to a Chinese investor is being evaluated as a precursor to the international IPO, according to two sources who spoke on condition of anonymity as the information was not public. Source Reuters
The joint week-long navy drills of the US and South Korean fleets have kicked off. About 40 vessels, including the aircraft carrier USS Ronald Reagan, are taking part in maneuvers in the waters around the Korean Peninsula. Source: Sputnik
China’s imports from North Korea fell 37.9 percent in September from a year earlier, marking the seventh consecutive month of decline, the customs office said Friday. Source: Voice of America