High hopes for U.S. debt deal
There is increasing optimism of deal being struck to end the current U.S. government shutdown and raise the federal debt ceiling. According to U.S. media, the deal currently under discussion would fund the government until 15 January while raising the debt ceiling until early to mid-February. Senate leaders have expressed optimism that a deal could be struck but any deal would also need to pass the House of Representatives. Senate Democratic Majority Leader Harry Reid told the chamber on Monday: “We’ve made tremendous progress… perhaps tomorrow will be a bright day.” Tokyo stocks closed up 0.26 percent on the news. The U.S. must raise its $16.7 trillion borrowing limit by Thursday. Image: © Getty Copyright is owned by Asia Outlook and/or Outlook Publishing. All rights reserved.
Indonesian businessman to buy Inter Milan
Indonesian businessman Erick Thohir is to buy a controlling interest in Italian football giants Inter Milan, president Massimo Moratti (pictured) has confirmed.
Vettel wins Japanese GP
Red Bull’s Sebastian Vettel has won the Japanese Grand Prix (GP), edging closer to another world championship.
Chinese inflation rises to 3.1%
Consumer prices in China rose by 3.1 percent in September, a seven-month high, fuelled mainly by a surge in food prices.
Toyota to launch self-drive cars
Toyota has unveiled the next generation of cars featuring an autopilot system that will swerve to avoid collisions and also keep to the middle of the road, all without drivers touching the wheel.
KFC parent Yum! Brands profits hurt by China food scares
Yum! Brands, the owner of fast food chains KFC and Pizza Hut, says its profit fell 68 percent in the third quarter, as its China sales slumped following controversy over its chicken supply and bird flu scare.
Panasonic to exit plasma TV business
Japan’s leading Nikkei business daily has reported that electronics giant Panasonic will stop making plasma television screens by early next year as part of a huge corporate overhaul.
Typhoon Fitow hits China
Typhoon Fitow has hit China’s eastern coast, with winds of up to 151km/h (93mph).
