Overseas: Dow -2.38% to 12931. S&P -2.49%. Nasdaq -2.48%. Crude -4.62% to $84.61. Stoxx 50 -2%. Italy -2.6%. London -1.58%. Germany -1.96%. France -1.99%.
Morgan Stanley is selling its India private wealth management unit, which manages about $1 billion after just four years. (Reuters)
Kingfisher continues to bleed: losses widened to Rs.753.55 crore for the September quarter; revenue plunged to Rs.200 crore from Rs.1,552.87 crore a year ago. (LiveMint) [stockquote]KFA[/stockquote]
What about manufacturing? Policy changes, particularly those relating to FDI, are all in the services sector (retail, insurance, aviation and pension fund management). (LiveMint)
German manufacturing output fell 2.3% in September. Largest fall since April 2009. Final Eurozone Composite Output Index: 45.7. (Markit)
Go Chile young man? Indian entrepreneurs planning start-up ventures have a new and welcoming destination—Chile. The South American nation is attempting to attract fledgling businesses from across the world by offering initial funding and other incentives. (LiveMint)