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2 Japanese Cabinet Ministers Have Resigned Amid A Corruption Scandal. Japan’s Prime Minister Shinzo Abe suffered a double setback Monday with the resignations of two female cabinet ministers over claims they misused political funds.
IBM Earnings Disappointed And The Share Price Is Crumbling. Shares are tumbling in premarket trading after the company announced disappointing Q3 earnings. The business services giant announced $US3.68 per share of operating earnings from continuing operations, which is much weaker than the $US4.32 expected by analysts.
Major European Markets Are Down. France’s CAC 40 is down 1.42%, Germany’s DAX is down 1.58%, and the UK’s FTSE 100 is down 1.04%. But Japan’s Nikkei climbed 3.98% during trading.
China’s Slowdown Is Going To Be Faster Than Expected. Chinese growth is set to be slashed in half in the next decade according to the Conference Board.
The Boston Fed’s President Says Rates Might Not Rise Until 2016. The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus, according to Eric Rosengren.
Nigeria Is Officially Free Of Ebola. The World Health Organisation has declared Nigeria Ebola-free, after a 42-day waiting period that represents twice the maximum incubation period of 21 days.
Investors Want To Buy Reebok. A consortium of investors from Hong Kong and Abu Dhabi is interested in buying the Reebok brand from Adidas for 1.7 billion euros ($US2.2 billion)
Germany’s Tax Income Is Still Rising. Monday’s monthly Finance Ministry report showed the government’s September tax income up 4.7% compared with a year earlier.
Lufthansa Just Grounded Thousands of Flights. The German airline canceled 1,450 flights after a pilots union called for a strike on Monday and Tuesday, adding to travellers’ misery after millions were left stranded by a weekend-long train drivers’ stoppage.
Big Economic Data Is Out From China Later. At 10 p.m. ET, retail sales and industrial production figures will be released by the Chinese government. Analysts expect GDP growth of 1.8% between the second and third quarters of the year.
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