Royal Dutch Shell can't pay the $1 billion it owes Iran because of sanctions imposed on the Middle East country by the United States and European Union. The sanctions have made it nearly impossible to transfer the money. Reuters reports that Shell is trying to wrap up its business dealings with Iran.
A selection committee in Hong Kong has chosen a former Cabinet chief as the southern Chinese financial hubs next leader. The voters were handpicked by Beijing. Leung Chun-ying's term will start in July.