HANDSOME RETURN: The price of the bank's Hong Kong H-shares were set at the high-end of the range, guaranteeing a swift return for the thousands who snapped up shares
Industrial and Commercial Bank of China (ICBC, 中國工商銀行) is set to reap a record US$22 billion bonanza after pricing its much anticipated float at the top end of the indicative range yesterday.

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SECURE INFORMATION?: Credit cards with the account holders name and details embedded in a chip have some experts worried as the data can be easily skimmed
Tom Heydt-Benjamin tapped an envelope against a black plastic box connected to his computer. Within moments, the screen showed a garbled string of characters that included this: fu/kevine, along with some numbers.

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Financial professionals snapped up A$4 billion (US$3 billion) worth of shares in Australian telecoms giant Telstra but small investors were likely to be more wary, economists said as the retail share offer opened yesterday.

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Former Enron chief executive Jeffrey Skilling, who was convicted of massive fraud and conspiracy earlier this year, awaited sentencing yesterday as one of the biggest corporate scandals in US history drew closer to its conclusion.

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The EU warned China yesterday that it must redouble market reform efforts and its commitment to economic openness or face a protectionist backlash.

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■ Automobiles
Ford loses US$5.8bn in Q3
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