South Africa's Gordhan declines to comment on ANC backing
South African Finance Minister Pravin Gordhan declined on Thursday to say whether he was confident of the political support of the ruling ANC, less than a week before he must answer fraud charges in court. Gordhan said he had tried not to let the case distract him while preparing a mid-term budget presented to parliament on Wednesday. Asked during a post-budget breakfast meeting whether he was still confident he had political backing, Gordhan said: "I'm not trying to duck, but I'm not going to answer it." Gordhan, who on Wednesday slashed growth forecasts for the next three years and predicted wider budget deficits than previously expected, said he was not preoccupied with whether he had done enough to stave off credit rating downgrades.
Samsung scion joins board as profits tank on Note 7
Samsung heir apparent Lee Jae-Yong took a major step towards control of the family-run conglomerate on Thursday, joining the board as the company reported a 30 percent profit dive following a highly damaging recall crisis. The move is being seen as a coronation of sorts of the 48-year-old Lee, who is already vice chairman of Samsung Electronics and has seen his influence grow since his father, Samsung patriarch Lee Kun-hee, suffered a heart attack and was hospitalised in 2014. Board chairman Kwon Oh-Hyun said Lee's elevation would give him a greater say in decision-making at the highest level and help foster "long-term, sustainable value" for Samsung shareholders.
Barclays says core earnings fall 73 percent in 3rd quarterLONDON (AP) ? Barclays says earnings from its core operations fell 73 percent in the third quarter as it took a 320 million-pound ($392 million) charge for bad debts in its U.S. and U.K. credit card businesses.
Groupon buys rival LivingSocial after reporting loss
The daily deals ecommerce operator Groupon will buy its rival LivingSocial for an undisclosed amount, the companies announced. Both are pioneers of their once-hot sector -- offering daily deals via email -- but have been struggling for several years. Once estimated to be worth some $6 billion, the Washington-based LivingSocial has in the past few years depreciated sharply in value.
Deutsche Bank makes 278 million euros, strengthens buffers
FRANKFURT, Germany (AP) ? Deutsche Bank, under pressure from an impending settlement with the U.S. Justice Department, reported 278 million euros ($303 million) in net profit for the third quarter as it strengthened its financial buffers against loss.
US Coast Guard in Hawaii suspends search for Chinese mariner
Asian stocks mostly lower as investors mull company earnings
China's male-dominated, anti-graft politics by the numbers
BEIJING (AP) ? China's ruling Communist Party concludes a key meeting this week aimed at shoring up internal discipline and asserting General Secretary Xi Jinping's authority. The gathering is also expected to lay the groundwork for next year's national congress that will decide major leadership positions and lay out the agenda for Xi's next five-year term.
The Latest: Coast Guard suspends search for Chinese sailorHONOLULU (AP) ? The Latest on the search for a missing Chinese mariner (all times local):
Nokia in Q3 loss, sales drop amid networks downturnHELSINKI (AP) ? Nokia says it made a net loss in the third quarter and saw a 12-percent drop in sales amid a downturn in the networks industry, as the company reported combined results after the acquisition of Alcatel-Lucent.