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It has taken more than a century, but France is finally paying fulsome tribute to Oscar Wilde, the writer who died penniless in a fleapit Paris hotel saying, "My wallpaper and I are fighting a duel to the death. Wilde fled to Paris in 1897 after being hounded out of England having served two years in jail with hard labour for his doomed love for Lord Alfred Douglas. Having to say that he was 'suffering from the most horrible form of erotomania... which left him the prey of the most revolting passions' was just not Oscar.
Postal Savings Bank of China (PSBC) made a low-key debut on the Hong Kong bourse Wednesday, despite notching up the world's biggest IPO in two years aimed at expanding the business. China's fifth-biggest lender raked in a colossal $7.4 billion in the flotation, with a report in the Chinese language financial news portal Caixin saying a fund linked to investment guru George Soros was among the initial investors. "We have already got a lot of Chinese banks in the market.
Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration (NCUA) said. The resolution comes as RBS prepares to settle a number of U.S. cases where it is accused of mis-selling mortgage-backed bonds and brings the U.S. regulator's recoveries against various banks to $4.3 billion over their sales of such securities before the 2008 financial crisis. This case is included in the around $5 billion RBS has set aside to settle historic misconduct charges, but some analysts estimate the total claims will be much larger.