Alibaba’s IPO is now the largest in history. Bankers working on the Chinese internet giant’s public offering have exercised the “green shoe” option (paywall) to purchase additional shares, raising the total proceeds of the offering from $21.8 billion to $25 billion, according to the Wall Street Journal. Alibaba shares rose 38% on their first day of trading on Friday, giving the company a market capitalization of more than $230 billion—bigger than Facebook and Amazon.
Siemens buys into the US fracking boom. Europe’s largest engineering company is paying $7.6 billion for Dresser-Rand Group, a US manufacturer of oil and gas compressors and turbines. Siemens CEO Joe Kaeser said the company was late to take advantage of the US shale gas boom, but is planning more acquisitions in the sector.
Afghanistan finalizes a power-sharing deal. Following a stalemate since disputed elections earlier this year, the two presidential candidates have resolved their differences. Ashraf Ghani, the certified winner, becomes president and his defeated rival, Abdullah Abdullah, gets to nominate a chief executive with powers similar to those of a prime minister.
The Islamic State returns hostages to Turkey. The terrorist group released 49 hostages that were seized from the Turkish consulate in Mosul in June, in what president Erdogan referred to as a “pre-planned operation.” Turkey has yet to join the military coalition against IS for fear that it would jeopardize the lives of its captives.
New Zealand elects its prime minister for a third term. John Key’s National Party won 48% of the vote on Saturday after Key led the country to record levels of prosperity. Growth is projected to fall in coming years though as export prices drop and monetary conditions tighten.
Nicolas Sarkozy is back in action. The former French president announced on his Facebook page that he would return to politics, joining the race to lead the right-leaning UMP party. Sarkozy’s return may actually help the man who defeated him, Francois Hollande, whose popularity is at 13%.
Worst-case Ebola projections get even worse. A model created by the Centers for Disease Control and Prevention predicted there could be 550,000 or more cases of the virus if aid and intervention are not ramped up. Anticipating the infection’s spread has proven challenging; a World Health Organization spokesman said WHO’s prediction last month of 20,000 cases is already outdated.
Many of the iPhone shoppers in line outside Apple stores in New York and Tokyo are Chinese. With the release of the iPhone 6 and 6 Plus delayed in China because of regulatory hurdles, as many as 5 million iPhones could be smuggled back into China (where they were made) before it’s released there. China is Apple’s second largest market by revenue.
The Earth turned up the heat this summer. Globally, it was the hottest summer on record, warmer by 0.71 degrees Celsius than in 1998, previously the hottest summer, according to the US National Climatic Data Center. If the mercury stays high over the next few months, 2014 could replace 2010 as the hottest year on record.