The yen fell to a fresh seven-year low against the dollar early on Monday, extending a massive selloff sparked by the Bank of Japan's surprise decision to boost its already huge bond-buying stimulus.
Industry
European Commission cuts Eurozone growth forecasts in 2014; European Union GDP forecast lowered the expectation for next two years
In its autumn forecasts European commission has revised down the growth forecasts for European Union and euro area. The report said, “Annual GDP growth in the EU this year is now projected to be 1.3%, while growth in the euro area is expected to be 0.8%.”
Banks to launch new tool to fight hackers: WSJ
A group of cybersecurity firms funded by big banks plan to launch a platform that will allow financial companies to communicate faster about potential cyber breaches, the Wall Street Journal reported.
China pledges mergers, private investment in shipping industry reform
China has issued further guidance to support and modernize its shipping industry, saying it would encourage mergers and private investment as well as develop its cruise industry.
Factory growth ebbs in Europe & Asia, making case for more stimulus
Factories across Asia and the euro zone reported a general loss of momentum last month that speaks volumes about the need for more policy stimulus on top of Japan's latest efforts to ignite growth.
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China's national civil aviation authority says the country will need to train about half a million civilian pilots by 2035, up from just a few thousand now, as wannabe flyers chase dreams of landing lucrative jobs at new air service operators.
Bank of Japan Governor Haruhiko Kuroda does not need to convince Japanese people like Kazue Shibata that deflation brings problems, but getting them to believe that higher prices will make things better is proving to be a harder sell.
A handful of toss-up U.S. Senate races next week could hold the key to whether the stock market glides through the year-end in a typical post-midterm election rally or gets hit with a fresh bout of volatility.
South Korean exports rose slightly faster than expected in October but imports saw their sharpest drop in 13 months, dragged down by softer demand for raw materials and capital goods, data showed on Saturday.
U.S. consumer spending fell for the first time in eight months in September, suggesting the economy lost some momentum heading into the fourth quarter.
U.S. consumer sentiment rose in October to its highest level since in more than seven years on growing optimism about the economy and more favorable personal financial expectations, a survey released on Friday showed.
Wal-Mart Stores Inc said it will expand its offering of discounted products during the holiday season and may broaden a price-matching scheme to include online rivals, in the latest sign of an escalating price war among big U.S. retailers.
A robust pace of business spending likely buoyed U.S. economic growth in the third quarter, a sign corporate chieftains have confidence in the sustainability of the recovery.
Tajikistan made the greatest strides in business-friendly reforms in the past year, part of an overall trend of improving business regulations across Eastern Europe and Central Asia, the World Bank said in a report released on Tuesday.
