- Asian stock markets rallied after the Federal Reserve minutes from the September meeting indicated that the central bank will be patient about raising interest rates. "The speculation about an imminent U.S. rate hike was a risk that investors had been dealing with for a long time. Because such concern is fading now, investors are willing to take risks," Hiroyuki Nakai, chief strategist at Tokai Tokyo Research Center, said quoted by Reuters. European stocks followed suit, opening higher.
- Commodities giant Glencore (GLNCY) said it would cut zinc production by a third, closing two mines and cutting 1,600 jobs as global prices of the commodity collapsed. The two mines that are closing are Lady Loretta in Australia and Iscaycruz in Peru. The changes will also reduce Glencore's annual output of lead, also produced at those mines, by about 100,000 tons.
- Youth unemployment is rising in China and Brazil although it is falling in developed nations, the International Labor Organization (ILO) said. The youth unemployment rate in China has risen from 9.3% in 2010 to 10.6% last year and is projected to reach 10.8% this year and 11.1% next year.
- SABMiller (SBMRY), which is the target of a takeover offer from the world's largest brewer Anheuser-Busch InBev (BUD), raised its cost savings target rate to at least $1.05 billion over the next five years. Additional savings would come from its integrated supply chain, with about 70% from procurement and the rest from manufacturing and distribution.
- The U.K. construction sector shrank unexpectedly in August, posting its first year-on-year fall since May 2013, data from the Office of National Statistics show. Output in the construction industry shrank by 4.3% in August from July 2015 and decreased by 1.3% from August 2014.
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