(Photo credit: adaduitokla)
Overseas: Dow +0.23% to 13107. S&P +0.37%. Stoxx 50 -0.3%. Italy -1.2%. London flat. Germany +0.10%. France -0.44%.
ABB worldwide net profit dips 4% in Q3 with orders from the United States rising 13% and those from China steady, while they slumped 64% in Germany and 39% in India. (Reuters) [stockquote]ABB[/stockquote]
The performance of Asian Paints in the quarter to September validates fears that discretionary consumption has slowed down due to a slowdown in growth. (ET) [stockquote]ASIANPAINT[/stockquote]
The west seems to be paying too little attention to what has been going on in the Indian economy. Growth has slowed significantly. The fiscal deficit is sizeable. Internal political conflicts are increasing. India has all but stopped climbing the World Bank’s rankings of countries by ease of doing business – despite being far down the list to begin with. (FT)
How did we go from “peak oil” to “too much oil”? Forecasters say that in the fourth quarter, global oil output will top demand by more than 630,000 barrels a day, the biggest surplus in four years. Over the past month, hedge funds and other money managers cut by 23% their bullish bets on crude-oil futures and options on the New York Mercantile Exchange. This is great news for our oil marketing companies and not to mention, our deficit. (WSJ)
A bit of Friday whimsy: A man from northern China divorced and sued his wife for being ugly. He won $120,000. (source)