The ongoing round of fund-raising by China's top banks is turning into a dash for cash, with industry heavyweights muscling to be first in line amid worries that markets could quickly tire of China's needy lenders.

The multibillion-dollar cash call took on a new urgency over the weekend, when China's regulator announced its latest monetary tightening measure by raising reserve requirement ratios for banks. [ID:nSGE64200J]

Chinese banks could collectively request $60 billion or more from investors in Hong Kong and Shanghai, seriously testing their appetite for providing new funds to a group that doled out a record $1.4 trillion in new loans last year under Beijing's loose-money policies during the financial crisis. [Read the full article]

UAL Corp.'s United Airlines announced on Monday it will merge with Continental Airlines in a deal worth $3.2 billion, creating the world's largest airline.

The combined company, which will fly under the United moniker and Continental logo, is now larger than Delta Air Lines (DAL, Fortune 500), which became the country's largest airline when it merged with Northwest Airlines in 2008. It is expected to serve more than 144 million passengers per year and fly to 370 destinations in 59 countries.

"Combining these two companies is the best way to position ourselves ... to thrive in the changing and competitive airline [industry,]" said Jeff Smisek, chief executive of Continental, in a press conference with Glenn Tilton, chief executive of UAL Corp. "Continental is strong where United is weak; United is strong where Continental is weak. [Read the full article]