Another week begins and it is the first trading day of the week. Chinese data released on Saturday was better than expected giving Asian markets a lift from the open. However sentiment faded as markets focused on the continuing uncertainty in Europe.
It is thought that Virgin Money may purchase the 316 RBS branches that need to be sold by the end of the year. Under the European regulations the bailout conditions stipulate that RBS must sell the branches by year end or incur large fines. Santander had agreed the purchase back in 2010, however pulled out of the deal on Friday.
HMRC applied the rules more strictly to expats working in the City of London and raised an extra £20m - CityAM
CEO of FITCH has declared himself "embarrassed to be British" over the calibre of MPs' scrutiny of credit rating agencies - The Times
China inflation near two-year low amid signs growth stabilising - Bloomberg
Record label XL Recordings had an exceptional performance due to Adele’s hit album 21, pushing revenues from £1.4m to £111.7m -CityAM
China local-currency loans fell short of economists’ estimates in September -Bloomberg