Markets News 

BMW raided in cartel investigation as Daimler claims immunity

“Even after an initial alert, other cartel participants can reduce EU fines — by up to 50 percent for the first to step forward with material evidence” reports foxbusiness.com. BMW’s headquarters were raided by European Union officials investigating an alleged cartel among German carmakers, it said on Friday, as rival Daimler claimed whistleblower status in an effort to avoid fines. VW offices have not been subject to EU raids in relation to the cartel investigation, a spokesman for the Wolfsburg-based car giant said on Friday, declining further comment. Source: foxbusiness.com Share…

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News 

Trump’s threat to Germany

“Trump’s security policy as well as his trade policy” writes Ukas Michae Pool for cnbc.com. Trump’s foreign, security and trade policy represent a frontal assault on Germany’s economic way of life.Under NAFTA, cross-border North American trade has grown five-fold, and now represents one-third of global trade.This has stifled a hoped-for renaissance in German trade with the Middle Eastern country. Source: cnbc.com Share This:

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GBP News 

Brexit talks deadlock has been ‘exaggerated’, Donald Tusk says

“Reports that Brexit talks between Britain and the EU are deadlocked have been “exaggerated”, the president of the European Council has said” writes Jon Stone for independent.co.uk. Mr Barnier had used the term “deadlock” three times in a press conference at the conclusion of the last round of talks, specifically in reference to the divorce bill. Source: independent.co.uk Share This:

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News Stocks 

European stocks nudge higher as Volvo rallies

“European stocks edged higher Friday, but Spanish stocks were held back as worries persisted about the Spain-Catalonia standoff over independence for the wealthy region” writes Markets Reporter for marketwatch.com. The swing to a weekly decline in European stocks was driven in part by Spanish shares, which have struggled as tensions over Catalonia’s bid for independence persist.What’s driving markets: The firm open for European stocks was driven in part by a decline in the euro EURUSD, -0.4219%  against the U.S. dollar, as a weaker euro can make European products less expensive…

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London is the European hotspot for venture capitalists when it comes to fintech

“London remains the top European city for venture capital investment in financial technology firms, according to data released by Mayor Sadiq Khan’s promotional agency” writes Ryan Browne for cnbc.com. Investors have poured more than $1 billion into fintech companies across the U.K., including those in London, since the beginning of the year, London & Partners said Thursday.London & Partners said that 2017 was likely to be a record year for investment in the capital’s fintech sector.Fintech firms in the capital raised the overwhelming majority of cash — more than $980…

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Futures News Stocks 

European Stocks Fall, Wall Street Futures Tumble As Spain Invokes Catalan Rule

“European stocks fell sharply across the board Thursday after Spain’s central government said it will assume control of the region of Catalonia after its President appeared to defy Madrid’s deadline on independence” writes Martin Baccardax for thestreet.com. U.S. equity futures are also tumbling fast, with Dow Minis pointing to a triple-digit decline for the Dow Jones Industrial Average and the S&P 500 called 14 points, or 0.55% lower, at the opening bell. Source: thestreet.com Share This:

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GBP News 

EU is not ‘the enemy’ and Brexit talks are ‘constructive,’ UK finance minister insists

“Britain’s finance minister denied that talks between the U.K. and the European Union were deadlocked and said it was clumsy to call EU negotiators “the enemy.”” writes Holly Ellyatt for cnbc.com. Philip Hammond told CNBC on Monday that he didn’t think the talks had stalled between the two sides, raising the prospect of “no deal” scenario at the end of the U.K.’s two-year Brexit negotiating period, in March 2018.”The real interests of the parties are so blindingly obviously in the best interest of both the U.K. and the European Union…

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Ford, PSA led European car sales decline in September

“PARIS (Reuters) – French carmaker PSA Group and U.S. competitor Ford led a 2 percent decline in European car sales last month, according to industry data published on Tuesday” reports businessinsider.com. September registrations fell to a combined 1.466 million cars in the European Union and European Free Trade Area (EFTA), the Brussels-based Association of European carmakers said.Combined sales of PSA brands fell more than 5 percent, with Peugeot, DS and Opel/Vauxhall all recording year-on-year declines.Asian carmakers fared better last month, with Toyota’s sales up 1.9 percent and Nissan recording a…

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News Stocks 

Why investors in Europe should be cautious on the upcoming earnings season

“However, some are worried that such interest in European equities has been disproportionately boosted by earnings forecasts that were too positive” writes European Equity Strategy for cnbc.com. The dissipation of political risks along with strong growth figures and a pickup in inflation have boosted investors’ interest in European stocks — the Euro Stoxx 600 index is up by 7 percent year-to-date.With another earnings season in Europe about to kick off, one equity analyst is concerned that European firms won’t deliver as much return as was expected at the start of…

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