- U.K.-listed Asian-focused bank Standard Chartered (SCBFF) said it would cut 15,000 jobs over the next three years and is seeking to raise $5.1 billion in fresh capital as it swung to a loss in the third quarter. It was hit by higher provisions for bad loans in India, the slowdown in China and the fall in commodity prices. This is the bank's first quarterly loss since 1998.
- Swiss bank UBS (UBS) posted a sharp rise in profit after a significant tax benefit. Net profit in the third quarter at UBS rose to nearly 2.1 billion Swiss francs ($2.13 billion) from 762 million Swiss francs in the same period last year and vs. analyst expectations of 1.64 billion Swiss francs.
- The shares of Volkswagen (VLKAY) fell sharply on Tuesday morning as the U.S. Environmental Protection Authority's probe widened to include luxury models Porsche and Audi.
- Two giants in the videogame industry will combine. Activision Blizzard (ATVI), the maker of "Call of Duty" and "World of Warcraft," said it will buy King Digital Entertainment (KING), the maker of "Candy Crush Saga," for $5.9 billion.
- The growth in U.K. exports slowed to a pace not seen since the depth of the financial crisis. The British Chambers of Commerce said firms taking part in its quarterly trade survey reported the most limited growth in overseas sales and orders since the second quarter of 2009.
More from Global Equity
Short Sellers Temporarily Happy in Asia, but Are Robbed of a Pool of Equities
The decision by Japan's GPIF, the world's largest pension fund, to suspend share lending removes a big portfolio of international equities from access to short sellers.
The Stage Is Set for a Dramatic Conclusion to a Very Positive Year
The stocks that have performed worst this year will have additional selling pressure in December, but that should set up an interesting 'January effect.'
Alibaba Achieves Hong Kong Stock Offering Success Amid Baffling Market Moves
The Hong Kong stock market rallied for no good reason on Monday and Tuesday, then surrendered those gains; meanwhile, Alibaba easily sold $11 billion in stock there.
China's Army Takes to Hong Kong Streets but Market Rallies
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Microsoft's Batting Average and Feel-Good China News: Market Recon
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