U.S. cancer drug company Medivation is discussing opening its books to Sanofi, people familiar with the matter said on Tuesday. » Read More
*Hyundai shares up 3.2 pct in Seoul; down 13 pct this month. SEOUL, Oct 25- South Korea's Hyundai Motor Co reported July-September net profit of $1.97 billion, up 13 percent on last year and in line with market forecasts, with growth held back by labour strikes in South Korea even as overseas sales rose.
BANGKOK-- World stock markets mostly rose Thursday as investors kept their sights on a possible improvement in China's economy. Britain's FTSE rose 0.5 percent to 5,836.92. Wall Street appeared headed for a day of gains, with Dow Jones industrial futures rising 0.4 percent to 13,078 and S&P 500 futures adding 0.6 percent to 1,413.20.
*CNOOC up 1.4 pct after positive Q3 earnings. *Citic Bank slides 3.2 pct after proposed $235 million stake sale.
SEOUL, Oct 25- South Korea's Hyundai Motor Co reported July-September net profit of 2.17 trillion won, an increase of 13 percent and in line with market forecasts, with growth held back by labour strikes in South Korea even as overseas sales rose.
*Low rates cut interest income by $400 billion since 2008. WASHINGTON, Oct 25- The Federal Reserve's strategy of holding interest rates near zero to spur the U.S. economy is creating a level of uncertainty for American savers that may be softening the policy's punch.
*$139 billion in dry powder in Asia, $130 bln new funds being raised-Preqin. HONG KONG, Oct 25- The public appearance of Henry Kravis at KKR's new Singapore office underscores the private equity industry's growing interest in Southeast Asia, at a time when regional funds are growing and deal volumes are falling.
*Yuan hits all time record high in morning trade. Oct 25- China's yuan touched its strongest ever level on Thursday and crept within a whisker of its strong-side limit, as dealers said short covering added to strong corporate demand for yuan. The People's Bank of China set its midpoint at 6.3047 on Thursday, moderately stronger than Wednesday's fix.
OSLO, Norway-- Norwegian Air Shuttle, one of Europe's fastest-growing airlines, has posted a 27 percent increase in third-quarter net profits on the back of a significant increase of passengers. Thursday's report showed the company made a net profit of 628 million kroner, up sharply from the 495 million kroner recorded in the same three months a year ago.
FRANKFURT, German-- Another drop in lending to companies in the 17- country eurozone showed the economic downturn is deepening, as a brighter mood on financial markets fails to catch on with businesses.
LONDON-- Britain's economy emerged from its nine-month recession in the July to September quarter, when spending on the Olympics helped it grow by a bigger than expected 1 percent, according to official figures released Thursday.
GENEVA-- Swiss pharmaceutical giant Novartis AG defended a range of flu drugs that have been banned in Italy, while posting virtually flat third quarter profits as new drugs offset patent expirations. On Wednesday, Italy's health ministry banned the sale of four Novartis flu drugs for possible side-effects.
LONDON-- WPP PLC, the world's largest advertising group, has lowered its full-year outlook after not doing as well as expected from the Olympics, the U.S. presidential campaign and the European soccer championships.
BEIJING, Oct 25- China's factory output should grow faster in the last three months of 2012 than in the third quarter, though the recovery remains clouded by uncertainty in export markets, the Ministry of Industry and Information Technology said on Thursday.
SINGAPORE, Oct 25- The dollar edged higher versus the yen on Thursday as the yen stayed under pressure on expectations for more Bank of Japan monetary easing, while a less-dovish-than-expected New Zealand central bank gave the kiwi dollar a boost.
SINGAPORE, Oct 25- Brent futures rose above $108 on Thursday as positive economic data out of the world's top oil consumer, the United States, revived hopes of a recovery in demand growth, although a worsening outlook for Europe capped gains.
Please be advised that a story saying UBS AG has suspended at least one trader in Singapore for possible manipulation of interbank lending rates is wrong and is withdrawn. The trader, Prakant Sood, said that he is still employed by the bank and has never been involved in U.S. dollar Libor trading, or trading for any other interbank lending at UBS.
OTTAWA, Oct 25- The Bank of Canada will take care not to raise interest rates too rapidly when the time comes because of risks to the economy from challenges in the United States and Europe, Governor Mark Carney said in an interview released on Thursday.
Please be advised that a story saying UBS AG has suspended two traders in Singapore for possible manipulation of interbank lending rates is wrong and has been withdrawn. One of the traders named, Jeffrey Tay, said he had not been suspended but had resigned. STORYtNUMBER: L3E8LG35A STORYtDATE: 24/10/2012 STORYtTIME: 1240 GMT.
GENEVA-- Swiss pharmaceutical giant Novartis AG posted flat third quarter profits as new drugs offset patent expirations.