Good morning New York,
FT ALPHAVILLE
Cardiff takes a look at the idea that future healthcare spending may not be as huge as feared.
Hope and reality have clashed at Volvo, Dan finds, when it comes to cost savings.
NEWS
Barclays is to review its foreign exchange trading in response to the investigation into Libor rigging, the bank said as it reported a decline in quarterly profits. Adjusted pre-tax profit of £1.4bn inthe third quarter compared to £1.9bn a year ago as profits at its investment banking arm halved on falling revenues from fixed income, currencies and commodities trading (Financial Times, Reuters).
Japan's government has moved a step closer to taking direct control of the clean-up effort at the Fukushima Daiichi nuclear facility. The move could entail a partial break-up of its owner, Tokyo Electric Power, after lawmakers from the ruling party agreed the outline of an intervention plan (Financial Times).
Volkswagen reported third quarter profit dropped due to a accounting quirk related to its acquisition of Porsche last year. However earnings at the world's largest car maker by revenues were ahead of analyst expectations, as it confirmed it is on track to match last year's profit for 2013 (Wall Street Journal, Bloomberg).
The World Trade Organization has ruled against China in a case that challenged the nation's policies to limit exports of rare-earth metals, a Chinese government official said Wednesday. The panel was established last year to consider export restrictions last year at the request of the US, EU and Japan (Wall Street Journal).
Eurozone Economic Sentiment was stronger that expected in October. The reading for the eurozone was 97.8, a rise from 96.9 the previous month and ahead of economist forecasts, extending a trend of improvement that began in late 2012 (Bloomberg).
However German unemployment rose for a third month in October, adding to signs of a slowdown in Europe's largest economy. The number of people out of work climbed a seasonally-adjusted 2,000 to 2.97m, after gaining by a revised 24,000 in September, leaving the German jobless rate unchanged at 6.9 per cent (Bloomberg).
