It’s the final trading session of the week, yesterday traders and politicians alike were discussing the positive UK growth figures and exiting the recession. Analysts were quick to note the 1% print was due to the Olympics and Jubilee effect rather than a sustained recovery. These contributing factors were one off events that will not be in future quarters to assist in the UK recovery. The economic ride for the UK is expected to be a bumpy one, though this positive figure has led economists to lower their outlook of further QE by the Bank of England in November.
Nintendo slashed is fiscal-year profit outlook by 70%, just weeks before releasing its first console in 6 years -WSJ
South Korea's economic growth hits near 3-year low in Q3
S&P lifted the risk rating on France from 2 to 3
Pearson revealed yesterday it is in merger talks with German media powerhouse Bertelsmann -CityAM
Japan grapples with its own fiscal cliff. The Japanese finance ministry will hold crisis talks with bond dealers today –FT
Premier Foods is to sell the Hovis brand – The Times