China aims to cut 30mn t of steel capacity in 2018, putting it on track to almost complete its five-year goal to eliminate 150mn t/yr of blast furnace-based crude steel capacity two years before a 2020 deadline.

The merger agreement has been unanimously approved by the boards of AXA and XL Group. Total consideration for the acquisition would amount to USD 15.3 billion (or Euro 12.4 billion), to be fully paid in cash.

LS Group and KKR today announced that KKR has completed its investment in LS Automotive and has completed the acquisition and carve-out of KCF Technologies Co., Ltd. , the copper foil and flexible copper clad laminate business formerly known as LS Mtron