Private equity houses are muttering proposed U.S. rules won’t make it any easier for them to use their fabled treasure chest to buy troubled banking assets and clear out some toxic asset waste.

In China things are different: the watchdog there is encouraging China Mobile (0941.HK) to buy shares in the country’s biggest commercial bank ICBC (1398.HK), possibly with a view to propping up banking stock. For all other deals stories on Reuters, click here.

One other item of interest in today’s newspapers: Germany’s Frankfurter Allgemeine Zeitung says Chinese state-owned automaker Beijing Automotive (BAIC) will unveil an improved non-binding offer for German carmaker Opel today. The Wall Street Journal has a similar story.

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