Europe

Fiat Chrysler to spin off Ferrari, issue $2.5 billion convertible bond

Fiat Chrysler Automobiles (FCA) (FCAU.N) said on Wednesday it will spin off its luxury sports car maker Ferrari and list the shares as part of a bigger scheme which includes a $2.5 billion convertible bond issue to help fund its ambitious business plan.

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Fed ends bond buying, shows confidence in U.S. recovery

The Federal Reserve on Wednesday ended its monthly bond purchase program and dropped a characterization of U.S. labor market slack as "significant" in a show of confidence in the economy's prospects.

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ECB covered bond buying plan starts with a whimper

The European Central Bank spent 1.704 billion euros last week on covered bonds under a new purchase program with which it hopes to foster lending to businesses and thereby support the euro zone economy.

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ECB fails 25 banks in health check but problems largely solved

Roughly one in five of the euro zone's top lenders failed landmark health checks at the end of last year but most have since repaired their finances, the European Central Bank said on Sunday.

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Ford's lower profit beats estimates; sales down on F-150 launch

Ford Motor Co's third-quarter earnings fell 34 percent but beat Wall Street expectations on a strong showing in North America even as revenue fell due to the cost of introducing the F-150 pickup truck.

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Drugmakers may need indemnity for fast-tracked Ebola vaccines

Drugmakers are looking for some kind of indemnity from governments or multilateral agencies against possible losses or claims arising from the widespread emergency use of new Ebola vaccines in Africa.

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Asia stocks hobbled by growth woes, China PMI fails to impress

Asian shares sagged on Thursday after a retreat on Wall Street and falling crude oil prices rekindled investor anxiety over slowing global growth, while a mixed picture on Chinese manufacturing failed to impress markets.

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Nestle keeps W. Africa plants open, ready to act if Ebola spreads: CEO

Nestle has no plans to close any of its eight factories or curb output in cocoa and coffee-rich West and Central Africa because of Ebola, but is ready to adapt if it spreads, the Chief Executive of the world's largest food company said on Wednesday.

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Fresh turbulence tests post-crisis financial markets

A dramatic upswing in volatility is putting post-crisis financial markets to the test, as curbs on banks' ability to take risks and an increase in technology-driven trading expose potential new cracks in the system.

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Hope and obstacles as Russia and Ukraine seek gas deal

A tentative agreement between the Ukrainian and Russian presidents has raised hopes of ending a dispute in which Moscow has halted natural gas supplies to Kiev, but several obstacles still have be overcome.

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Credibility meets compromise in Europe's bank stress test

When Europe announced its latest health check of top banks early last year it promised a "comprehensive assessment" of how well prepared they were to withstand another financial crisis.

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Lufthansa cancels flights due to pilots strike; train stoppage strands millions

German airline Lufthansa (LHAG.DE) canceled 1,450 flights after a pilots union called for a strike on Monday and Tuesday, adding to travelers' misery after millions were left stranded by a weekend-long train drivers' stoppage.

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As IPO markets stumble, private equity buyers prepare to swoop

Across Europe, companies hoping to list are having their plans dashed by plunging equity prices. But what's bad for public stock markets may be good for private equity firms.

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Markets may have over-reacted to slowdown: Bank of England's Haldane

Investors may have over-reacted to signs of economic slowdown, although they have been right to price in weaker global growth prospects, the Bank of England's chief economist said in a Sunday newspaper interview.

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Russia and Ukraine reach tentative gas deal in tough Milan talks

Russia and Ukraine made progress on Friday towards resolving a dispute over gas supplies in time for winter, but European leaders said Moscow still had to do much more to prop up a fragile ceasefire and end fighting in eastern Ukraine.

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