News : AFRICA : Business, Economics & Finance
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Oil falls to 22-month low as gloom deepens
LONDON (Reuters) - Oil prices fell toward $53, touching a fresh 22-month low on Wednesday, due to increasing signs of weakening demand as economic gloom deepened.
Toyota to cut output, Nissan downbeat
TOKYO (Reuters) - Reeling from a relentless sales slide, Toyota Motor Corp said on Wednesday it would stop all of its North American factories for two days next month, while rival Nissan Motor Co renewed its pessimism over the industry's near-term prospects.
Japan banks seek funds as U.S. carmakers plead
LONDON (Reuters) - Japan's No.3 bank sought to beef up its capital on Wednesday, markets fretted over the stricken U.S. car industry and Britain's central bank said it considered cutting rates even more dramatically than it did this month.
Nomura head sees Japan local bank consolidation
TOKYO (Reuters) - The head of Nomura Holdings Inc, Japan's largest brokerage, said he expects more global acquisitions and consolidation among Japanese regional banks as the financial crisis takes its toll on economies around the world.
Ireland poised to launch bank rescue plan: report
DUBLIN (Reuters) - The Irish government is on the brink of launching a multi-billion euro rescue plan for the country's banks, including an injection of taxpayers' money, the Irish Independent newspaper reported on Wednesday.
Stock futures sink ahead of data; autos eyed
(Reuters) - Stock futures pointed to a lower Wall Street open on Wednesday, signaling a reversal of Tuesday's gains. Dow Jones futures were down 1.4 percent, S&P 500 futures were down 1.5 percent and Nasdaq futures were down 2.2 percent at 4:30 a.m. EST.
Auto woes weigh on global stocks
LONDON (Reuters) - World stocks and oil fell on Wednesday while government bonds and the yen gained as U.S. automakers begged for a bailout from Washington, adding to evidence that the credit crisis is crippling the real economy.
Asia shares dip, yen up
Nov 19 - Asian share markets eased Wednesday as yen strength and economic jitters chilled interest.
Yum Brands to globalize Taco Bell chain: report
(Reuters) - Yum Brands Inc wants to build its Taco Bell fast-food chain into a global brand with locations worldwide, its chief executive and chairman David Novak told the Wall Street Journal in an interview.
Sanofi settles on Allegra, Nasacort generics in U.S.
PARIS (Reuters) - France's Sanofi-Aventis has agreed to settle patent infringement suits in the United States with Barr Pharmaceuticals and Teva Pharmaceuticals over their generic copies of its allergy drugs Allegra and Nasacort.
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