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Takata shares drop on report of US air bag probe

A crash-test dummy at Takata's crash-testing facility in Auburn Hills, MichiganShares in Japanese auto parts maker Takata sank in Tokyo on Thursday as nervous investors reacted to a report that US justice officials are investigating the firm over an air bag defect that may have killed several drivers. The embattled firm's shares fell 6.16 percent to 1,582 yen ($15) in Tokyo, after plunging 22 percent on Tuesday following an earlier air bag safety warning. The Wall Street Journal reported Wednesday that federal prosecutors in New York are probing whether Takata made misleading statements about the safety of its bags to US regulators. According to the New York Times, at least 139 injuries have been linked to Takata air bags, including 37 reported as exploding.

Foxtons warns earnings hurt by London property slowdown

A Foxtons estate agent sign is seen outside a branch in north LondonBy Costas Pitas LONDON (Reuters) - British estate agent Foxtons warned profits would fall this year due to a sharp slowdown in a London property market that has seen prices soar, triggering the steepest drop in its shares since the company listed last year. Foxtons, which posted a 3 percent dip in third quarter turnover, blamed political and economic uncertainty for the worsening outlook, along with tougher rules on mortgage lending. Earlier this year the Bank of England imposed its first limits on how much most people can borrow to buy a home, hoping to temper growing debt levels and rapidly rising house prices. Britons also head to the polls in a 2015 election that some commentators say could deliver an uncertain result, with the lack of affordable housing expected to be a key battleground issue for politicians.

U.S. prosecutors probe Takata Corp over statements: WSJ

A sign board of Japanese auto parts maker Takata Corp's Annual General Meeting is seen on a street near the venue in TokyoNEW YORK (Reuters) - U.S. federal prosecutors are trying to determine whether Japanese auto parts maker Takata Corp misled U.S. regulators about the number of defective air bags it sold to automakers, including Toyota Motor Corp and Honda Motor Co Ltd , The Wall Street Journal reported on Wednesday. Word of the investigation follows a notice on Tuesday from the U.S. auto regulator, the National Highway Traffic Safety Administration, which increased the number of cars potentially affected by defective air bags made by Takata to at least 7.8 million, up from the roughly 4. ...

German survey props up European shares

Pedestrians look at an electronic board showing the stock market indices of various countries outside a brokerage in TokyoBy Patrick Graham LONDON (Reuters) - Stock markets in Europe recovered from a poor start on Thursday after a batch of more optimistic than expected surveys of German and euro zone purchasing managers leavened an otherwise shaky mood. Asian markets had drifted lower overnight, unimpressed by a similar survey out of China, which was marginally above forecast but still showed the world's second largest economy slowing further at the start of the fourth quarter. Concerns over growth, banks and a beckoning era of deflation in Europe were at the heart of a stock market sell-off at the start of October, although the past week has seen Europe in particular recover. The chief positive is the continuing strength of Germany and surveys of both manufacturing and service sector sentiment were sharply better than forecast, going against a weaker round of data earlier this month.

BUZZ-Norwegian Air shares slips on missed Q3 earnings

** Norwegian Air Shuttle drops 2 pct after worse than expected Q3 earnings. ** Shares in the budget airline opened down 5.7 pct. ** Q3 operating profit before leasing and depreciation 1.22 bln Norwegian ...

BUZZ-European earnings watch: movers & shakers

** Some big moves in early European trading following corporate result announcements despite flat to lower moves on the benchmarks. ** Unilever seen down 3 pct following weak Q3 sales as EM continues to ...

Gold steadies above $1,240 as Asian equities slide

A dealer displays gold pendants at a jewellery shop near the Grand Mosque during the annual Haj pilgrimage in MeccaBy A. Ananthalakshmi SINGAPORE (Reuters) - Gold steadied above $1,240 an ounce on Thursday as Asian stock markets weakened, but caution prevailed as the dollar hovered near one-week highs and outflows from bullion funds continued. Asian shares sagged after a retreat on Wall Street and falling crude oil prices rekindled investor anxiety over slowing global growth, while a mixed picture on Chinese manufacturing failed to impress markets.

MIDEAST STOCKS-Global retreat may undermine region's rebound

DUBAI, Oct 23 (Reuters) - A fresh decline in U.S. and Asian equities and global oil prices may take the steam out of Middle Eastern stock markets' rally on Thursday, offsetting the positive effect of generally strong earnings reported this week. Asian shares sagged on Thursday after a retreat on Wall Street and falling crude oil rekindled investor anxiety over slowing global growth. Brent crude fell for a second session running, hitting a one-week low just above $84 a barrel as a sharp rise in U.S. crude inventories reinforced oversupply concerns. ...
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