U.S. Clears Land-Swap for Rio-BHP Copper Mine

Barack Obama has signed into law legislation clearing a land-swap deal that will underpin the proposed $6 billion development of one of the world's largest untapped copper deposits, said Rio Tinto.

Ferrovial Abandons $830 Million Transfield Bid

Ferrovial abandoned a $830 million takeover bid for Australia's Transfield Services, a major setback in the Spanish construction company's plan to compete for billions of dollars of new infrastructure projects Down Under.

China's Hopu Among Investors in Xiaomi

Chinese private-equity firm Hopu Investment Management is among the consortium of investors putting a total of just over $1 billion into Xiaomi in a deal valuing the smartphone maker at over $45 billion, according to a person familiar with the situation.

China State-Owned Firms See Slower Profit Growth

China's state-owned enterprises recorded slower profit growth in the first 11 months of the year as the world's second-largest economy lost momentum.