Editor's Picks
France and Germany near agreement on EFSF boost, Guardian says
Tuesday 18 Oct 2011
France and Germany have reached an agreement to boost the Eurozone's rescue fund to €2tn (£1.75tn) as part of a "comprehensive plan" to resolve the sovereign debt crisis, EU diplomats cited yesterday by The Guardian said.
US close: Stocks surge on Euro bail-out fund agreement
Tuesday 18 Oct 2011
The S&P 500 index rose to its highest level since August as reports that France and Germany have reached agreement on beefing up the Eurozone bail-out fund to €2trn.
Europe close: Bourses mixed on global economic fears
Tuesday 18 Oct 2011
European markets finished mixed on Tuesday after a topsy-turvy day, but bourses recovered from their daily lows after a better start on Wall Street. However, early on, the mood was dampened by uncertainties concerning France’s credit rating and some worrying data from China.
Eurozone ‘sources’ deny EFSF ‘boost’ is in the works, Reuters says
Tuesday 18 Oct 2011
A senior Eurozone source told Reuters last night that there had been no mention of ‘such a deal’, in reference to reports out in The Guardian pointing to an agreement between the two main European economies, France and Germany, for increasing the lending capacity of the European Financial Stability Fund fivefold, to €2tn.
Higher coal price keeps Xstrata busy
Tuesday 18 Oct 2011
Diversified miner Xstrata continued to ramp up production of coal and other commodities in the third quarter as prices stayed strong, though lower alloy prices prompted the company to extend furnace maintenance programmes, resulting in lower production.
US mid-morning: Stocks flat on mixed economic data
Tuesday 18 Oct 2011
US stocks were broadly flat on Tuesday morning despite some mixed economic data and worrying signs of a slowdown in China. The Dow was up just 20 points at 11,418, the Nasdaq was flat at 2,615, while the S&P 500 rose 3 to 1,204.
Coca-Cola loses fizz as margins fall
Tuesday 18 Oct 2011
Coca-Cola, the world's largest soft drink seller, fell lower on Tuesday morning after the erosion of its profit margin did not please analysts.
EFSF could guarantee portion of Spanish and Italian debt
Tuesday 18 Oct 2011
There are rumours circulating in Brussels that the Eurozone bailout fund, the European Financial Stability Facility (EFSF), could be used as a guarantee system.
All eyes on Brussels ahead of Euro summit
Tuesday 18 Oct 2011
The Prime Ministers and Presidents due to attend the delayed Eurozone summit in Brussels on Sunday are likely to be viewing the meeting with dread.
London midday: Stocks stuck lower amid growth concerns
Tuesday 18 Oct 2011
The leading share index remains under pressure, with a slight slowdown in Chinese growth the latest development to jangle nerves over the state of the economy.
German investor confidence falls again
Tuesday 18 Oct 2011
The ZEW economic climate index for Germany fell to -48.3 points in October from -43.3 in September and -37.6 in August, according to the latest data from the ZEW Institute in Mannheim. The market was expecting a reading of -45.0.
UPDATE: Inflation leaps to 5.2% in September: analysts argue over future direction
Tuesday 18 Oct 2011
UK inflation jumped in September after a hike in utility prices, according to official figures.
LVMH beats forecasts but shares fall on Chinese concerns
Tuesday 18 Oct 2011
French luxury brand Moet Hennessy Louis Vuitton (LVMH) fell lower on Tuesday despite reporting forecast-beating third quarter results, as worrying economic data in China spooked some investors.
US newspaper round-up: iPhone 4S, Citi, Wells Fargo...
Tuesday 18 Oct 2011
If you came out empty-handed looking for that elusive iPhone 4S this weekend, you weren't alone. Apple sold more than 4 million units of its new megahit iPhone in the first three days of sales. That's more than double the 1.7 million sold for the iPhone 4 at launch in 2010. Now, the phone is nearly gone at most retailers. And if you order online, you'll have to wait anywhere from one week until
ITV to expand regional presence with Channel Television acquistion
Tuesday 18 Oct 2011
Television broadcaster ITV has revealed its intention to acquire Jersey-based Channel Television from its current owners Yattendon Group for an, as of yet, undisclosed sum.
Asia: Stocks fall on China GDP and Euro debt fears
Tuesday 18 Oct 2011
The Japanese Nikkei index fell 1.55% on Tuesday as twin fears over Chinese growth and European debt forced equities down.
Broker snap: $4bn settlement de-risks BP valuation, says UBS
Tuesday 18 Oct 2011
UBS has reiterated its buy rating on oil titan BP following its $4bn settlement with Anadarko, which the broker sees as an “important step towards resolution”.
London open: Stocks fall as China adds to euro worries
Tuesday 18 Oct 2011
Stocks are under pressure in early dealings as the seemingly never-ending Eurozone saga rumbles on and growth figures from China raise eyebrows.
IMI buys severe service valves company
Tuesday 18 Oct 2011
Engineering group IMI has acquired a German business specialising in severe service valves and related flow control products, for €12.3m.
Higher coal price keeps Xstrata busy
Tuesday 18 Oct 2011
Diversified miner Xstrata continued to ramp up production of coal and other commodities in the third quarter as prices stayed strong, though lower alloy prices prompted the company to extend furnace maintenance programmes, resulting in lower production.
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