DUBAI / Reuters Saudi Arabia’s ACWA Power has selected JPMorgan, Citigroup to arrange the initial public offering of its shares, which could raise up to $1 billion, sources said. The two international banks have been selected as global coordinators and a third international bank is close to being chosen, one of the sources told Reuters. ACWA Power, a developer of ...

Bloomberg Toyota Motor Corp. plans to spend $2.8 billion to make sure its system for writing the software for self-driving cars will be just as efficient as the factories that build them. The company needs faster and more reliable methods for writing software because self-driving cars require “millions and millions’’ of lines of computer code, according to James Kuffner, who’ll ...

Bloomberg China stepped up its push to curb financial risk, cutting its budget deficit target for the first time since 2012 and setting a growth goal of around 6.5 percent that omitted 2017’s aim for a faster pace if possible. The deficit target—released as Premier Li Keqiang delivered his annual report to the National People’s Congress in Beijing—was lowered to ...