Overnight Top Business Stories – 24 October


1) AstraZeneca Raises Sales Forecast as China Market Burgeons
AstraZeneca Plc raised its 2019 sales outlook again, helped by expansion in the key China market and new drugs for cancer.

2) ABB Probed for Payments Connected to South Africa’s Eskom
ABB Ltd. is being investigated for suspect payments related to work carried out by the Swiss industrial giant for embattled South Africa utility Eskom Holdings SOC Ltd. The maker of robotics and power grids “self reported” the incidents to U.S. and South African authorities and expects it may be sanctioned.

3) Trump Secured Syria’s Oil, But There’s Not Much to Start With
President Donald Trump says he’s secured “the Oil” in Syria, while Senator Lindsey Graham is floating the idea of tapping that bounty to help fund military operations in the war-torn nation.

4) Won Lead Gains in Asia’s EM FX on Improving Exports
Won led gains in Asia’s emerging currencies after South Korea’s GDP data indicated improving exports. Regional stocks largely gained, tracking U.S. equities.

5) Erdogan Can Thank Putin If Turkey Surprises With a Big Rate Cut
President Recep Tayyip Erdogan’s deal to secure a buffer zone in northern Syria may have also clinched another big cut in Turkish interest rates. Little now stands in the way of the central bank’s third straight decrease after Erdogan’s agreement on Tuesday with Russian President Vladimir Putin.

6) Stocks Advance With Nasdaq Futures on Profits
Stocks in Asia were mostly higher as investors took solace from a raft of earnings that provided some optimism against a background of concern that global economic growth lacks momentum. Treasury yields and the dollar were stable. Shares edged up in Hong Kong, Tokyo, Sydney and Seoul. Shanghai retreated.

7) Aviation Briefing
Transport Minister Fikile Mbalula, South African Civil Aviation Authority CEO Poppy Khoza and Airports Company South Africa COO Fundi Sithebe brief media on state of the aviation industry.

8) Oil Cools After Biggest Gain Since Saudi Attack on U.S. Supplies
Oil pared gains after surging the most since the attacks on Saudi Arabia following a surprise decline in U.S. crude stockpiles. Futures dropped 0.8% in New York after advancing 2.7% on Wednesday.