SEOUL, South Korea (AP) — European stock markets bounced back today from the sell-off triggered by lower growth forecasts. Asian shares mostly fell and oil plumbed fresh lows. Futures point to gains at this morning’s Wall Street opening. Benchmark U.S. crude oil hit a fresh three-year low falling below $77 a barrel. The dollar gained against the euro and the yen.
WASHINGTON (AP) — It’s a light day for economic data, with the Institute for Supply Management’s service sector index for October the lone highlight this morning. From the corporate world, Fiat Chrysler reports quarterly financial results before the market opens. Tesla Motors and Whole Foods report their results after the market closes.
TOKYO (AP) — Toyota raised its annual earnings forecast after posting a 23 percent jump in quarterly profit today as a favorable exchange rate added to the momentum of the Japanese automaker’s sales growth. Toyota Motor Corp.’s fiscal second quarter profit was a better-than-expected 539 billion yen ($4.7 billion), up from 438 billion yen the same period the previous year. Analysts surveyed by FactSet had expected about 500 billion yen ($4.4) in quarterly profit.
BERLIN (AP) — A leading anti-graft organization has criticized globally operating companies for failing to disclose important information that might help combat corruption. Berlin-based Transparency International says it reviewed 124 of the world’s biggest publicly traded companies and found that 90 don’t disclose the taxes they pay abroad. In a report published today the group says 54 of the companies examined provided no information at all on their revenues in other countries.
BEIJING (AP) — Activists say police in southern China have detained seven employees of a shoe factory amid a quarrel over back pay and benefits in a rare case of detentions in a labor dispute. Chinese authorities usually try to help broker solutions to labor disputes and rarely detain workers. Activists say workers are demanding 5 million yuan ($820,000) in back pay and benefits after the shoe factory decided to relocate.
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