Sep 4, 2011, 11:47 p.m.

HK's schooling woes dim city's role as financial hub

HONG KONG (Reuters) - As global companies expand in Asia, financial hubs such as Hong Kong are suffering a shortage of international school places that may blunt the city's competitive edge against regional rivals including Singapore. International schools across Hong Kong are reporting record applications and lengthy waiting lists, prices of school debentures to guarantee places have soared and foreign business chambers are warning the situation is becoming critical.

China bought back a lot of BofA assets: report

NEW YORK (Reuters) - A consortium that included the Chinese government was the biggest buyer of a 5 percent stake in China Construction Bank Corp <0939.HK> sold last month by Bank of America , the Financial Times reported on Sunday. The State Administration of Foreign Exchange, the National Social Security Fund and Citic Securities bought the CCB shares, the FT said, citing unnamed sources.

Brent falls below $112 on U.S. recession fears

SINGAPORE (Reuters) - Brent crude fell below $112 a barrel on Monday, as fears of another U.S. recession slowing fuel demand overshadowed supply concerns over a major shutdown of offshore oil production forced by Tropical Storm Lee. U.S. employment growth ground to a halt in August, reviving recession fears and piling pressure on both President Barack Obama and the Federal Reserve to provide more stimulus to aid the frail economy.

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