United States

Chinese logistics firm Best, which counts Alibaba Group Holdings among its shareholders, raised $450m from its US IPO this week, chopping the deal by half to get it over the finish line.

Chinese logistics firm Best raised $450m from its US IPO this week, slicing the deal size by as much as half.

Jefferies' dreary third quarter trading results were buoyed by a record performance in its capital markets division.

Distributed ledger technology “is on the verge of creating a sea change in contract design, reporting and settlement”, Brian Quintenz, a member of the Commodity Futures Trading Commission, said this week, as he was named sponsor of its Technology Advisory Committee (TAC).

Geopolitical tensions around North Korea did not close the primary debt market this week, as Hyundai Motor Group’s US arm snapped up $1bn from a triple-tranche deal and Kookmin Bank priced a $500m trade on Monday.

Zai Lab, a Chinese biotechnology company, was set to price its IPO of American Depository Shares on Tuesday, expected to raise at least $105.9m.

Goldman Sachs laid out plans to turn around its FICC division, following two quarters in which the business underperformed its peers. The bank also laid out its plans to boost revenues across the bank in unprecedented detail, explaining to the market how it would add $5bn to revenues in three years.

Investors scrambled for yield in the dollar bond market this week as Concho Resources printed its debut investment grade offering amid nearly $19bn of other corporate offerings.

Bank of America led a flurry of issuance from big-name financials which defied predictions by tapping the dollar market in advance of third quarter results to get ahead of next week’s Federal Open Market Committee meeting.

Commodity Futures Trading Commission chairman Christopher Giancarlo's warning to Europe against taking “unilateral” action in changing rules tied to G-20 commitments made in 2009 is right. While there are concerns about the future regulatory relationship between the United Kingdom and the European Union, derivatives clearing is a global issue.

RYB Education’s IPO on the New York Stock Exchange is off to a strong start, with the $140m deal covered on the first day of bookbuilding.

Wynn Macau raised $1.35bn from the bond market on Wednesday, finding support from both Asian and US investors thanks to a turnaround story in the Macau gaming industry and the issuer’s improved financials.