US election commission fines Jeb Bush's Super PAC, Chinese company

WASHINGTON: The federal election oversight agency has levied a record fine against the Super PAC that backed former presidential hopeful Jeb Bush, who ran as a Republican in 2016, and a Chinese-owned corporation, according to a watchdog group that filed the initial complaint.

"The Commission expressly acknowledged that the company did not knowingly or wilfully violate any US campaign finance laws," APIC said in a statement provided to Reuters."American Pacific International Capital remains committed to compliance with all campaign finance laws and regulations.

Federal law prohibits foreign nationals or foreign companies from contributing to US political campaigns or candidates.

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International Cement to acquire African company for US$104.4mINTERNATIONAL Cement Group on Monday said it has entered into a conditional sale and purchase agreement to acquire a 100 per cent stake in Schwenk Namibia Pty Ltd for an aggregate US104.4 million in cash, comprising US$19.3 million for all its shares and another US$85.1 million for the purchase of its loans. Read more at The Business Times.
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