Good morning! Here’s what you need to know.
Eleven Banks Are About to Fail Europe’s Stress Tests. Spanish news wire EFE says that that at least 11 of the 130 banks the European Central Bank is now in charge of testing have failed their reviews.
Japan’s Trade Picture Is Collapsing. Japan’s shaky economy was dealt another blow Wednesday, as official data showed a widening September trade deficit that puts the world’s number-three economy on track to log a record annual shortfall.
6.1 Million US Cars Are Being Recalled Over Defective Airbags. The US highway safety regulator expanded its warning Tuesday about faulty airbags made by Japanese auto-part maker Takata to include 6.1 million vehicles in the United States.
Daimler Made $US800 Million Selling Its Tesla Stake. The parent company of Mercedes is selling its 4% stake in Tesla.
Heineken Blames The Weather For Poor Sales In Q3. The Dutch brewer, which makes Heineken lager as well as Sol, Tiger, and Strongbow cider, said it sold 0.2% less beer in the July-September period with declines in both eastern and western Europe.
urope’s Biggest Airline Is Close To A Major Outsourcing Deal With IBM. German airline Lufthansa says it is close to selling its IT infrastructure division and completing an outsourcing deal with IBM.
Brazil’s President Gains On Neves Ahead Of Sunday’s Runoff. President Dilma Rousseff has gained 1 percentage point on her rival Aecio Neves ahead of a runoff to Brazil’s presidential election, a new poll showed on Wednesday. The leftist incumbent has 47% of voter support.
European Markets Are Pretty Flat After A Rally In Asia. The FTSE 100 is currently down 0.12%, Germany’s DAX is up 0.03% and France’s CAC 40 is down 0.05%. Both the Nikkei and Hang Seng had strong days, closing up 2.64% and 1.37% respectively.
Hong Kong’s Leader Warns Vigilantes May “Take The Law Into Their Own Hands” Against Protestors. Hong Kong chief executive CY Leung told international reporters that patience is wearing thin with the pro-democracy protestors who have occupied large parts of central Hong Kong.
Inflation Data Is Out Later. At 8:30 a.m. ET, US CPI data for September will be released, the only major economic data out Wednesday. Analysts are expecting a 1.6% print, comfortably below the Fed’s target of 2%.