Noble Group Ltd., the commodity trader struggling to avoid a default, has set out why it received millions of dollars less from the sale of its North American gas and power unit than the company had previously indicated, responding to queries from the Singapore exchange, Bloomberg News reported. The figures differed because the unit’s working capital shrank, cutting the amount that needed to be paid by Mercuria Energy Group Ltd., Noble Group said in a statement on Monday. The illustrative sum given earlier by Noble Group also didn’t take into account funds that were placed in escrow, it said.

The recent decision by the People’s Bank of China to cut the effective reserve requirement ratio for banks by half a percent to 1.50 percent under certain circumstances fits with the government’s attempt to reduce leverage in the financial system, a Bloomberg View reported. And in many ways, it will lead to more efficiency and economic growth. There’s been speculation that the move contradicts the central bank’s deleveraging efforts and that this is yet another example of China pumping liquidity into the system to support growth.

Arup, the London-based global engineering company, is being sued in Australia for $2bn by the receivers of a Brisbane toll road that failed because its traffic forecasts proved optimistic, the Financial Times reported. BrisConnections, the company that built a toll road linking Brisbane’s central business district with its airport — which was finished in 2012 — went into administration the following year with debts worth more than $3bn.

Every flailing effort by India's banks to catch their breath is pulling them deeper into a morass of bad loans, Bloomberg News reported. The latest crisis has been sparked by the failure of billionaire Anil Ambani's Reliance Communications Ltd. to merge its wireless operations with Malaysian tycoon T. Ananda Krishnan's Aircel Ltd. That combination would have reduced RCom's $7 billion debt by $2.1 billion, with a separate deal to sell 51 percent of its tower unit to Canada's Brookfield Infrastructure Group contributing a further $1.7 billion toward deleveraging.

Japan’s Toshiba Corp said on Thursday it is buying back a 10 percent stake in Westinghouse Electric Co from minority shareholder Kazatomprom for 59 billion yen ($522 million), taking full ownership of the bankrupt U.S. unit, Reuters reported. The move comes as Westinghouse is exploring selling itself, with a deal likely valuing it at close to $4 billion, Reuters reported last week, quoting people familiar with the matter. Private equity firms Blackstone Group and Apollo Global Management have teamed up to bid for Westinghouse, the sources said.

A consortium of creditors led by state-owned Korea Development Bank agreed on Friday to keep debt-laden Kumho Tire afloat after a Won955bn ($835m) sale to China’s Doublestar fell through this month. The deal shows the extent to which the government will bow to political pressure to keep insolvent groups running, and South Korean resistance to the sale of domestic groups to the Chinese, the Financial Times reported. This is the first case of major corporate restructuring under South Korea’s new president Moon Jae-in, who has made reinvigorating the slow economy his top priority.

Embattled Indian telecom company Reliance Communications Ltd faced another setback on Sunday after a deal to merge its wireless business with smaller rival Aircel was called off, raising fresh doubts around its debt restructuring plans, the International New York Times reported on a Reuters story. The company, widely known as RCom, said it had agreed with Aircel to call off the proposed deal due to regulatory delays and legal uncertainties.

A wave of local-currency debt coming due next year alongside new stricter lending rules are bearing down on China’s developers and posing a risk to the country’s economy, The Wall Street Journal reported. The twin threats combined with a widely expected property market slowdown portend a shift in fortunes for many home developers after they rode a housing boom and strong profits in this year’s first half.

Banks that provided a $4.75 billion loan to the owner of Turk Telekomunikasyon AS see a government takeover of the operator’s management as the best way of resolving Turkey’s largest debt default, according to three people familiar with the matter. The stock rose. Lenders favor this outcome to another proposal of a cash injection into Otas, which owns 55 percent of Turk Telekom and has missed two payments on the loan it took out in 2013, the people said, asking not to be identified because negotiations are ongoing, Bloomberg News reported.

Credit-rating agency Moody’s downgraded HSBC’s Hong Kong unit, citing rising macroeconomic risks in in Hong Kong, China, Australia, Singapore, Taiwan and Malaysia over the last two years. Moody’s downgraded The Hongkong and Shanghai Banking Corp’s long-term issuer rating to double A three (Aa3) to double A two (Aa2), the Financial Times reported.