Morning business round-up: Bank of Japan extends stimulus
What made the business news in Asia and Europe this morning? Here's our daily business round-up:Continue reading the main story
Last Updated at 09:38 ET
|Market index||Current value||Trend||Variation||% variation|
|BBC Global 30||7476.38||Down||-37.19||-0.50%|
The Bank of Japan has extended its asset purchasing programme by 10 trillion yen ($126bn; £78bn), following similar moves by the Federal Reserve and the European Central Bank.
The move, aimed at boosting the economy, increases the overall size of the stimulus programme to 80tn yen.
Although the increase had been anticipated by some analysts, many were surprised by the size of it.
Dutch brewer Heineken has ended the dispute over control of the maker of Tiger beer by garnering the support of a Thai billionaire.
Charoen Sirivadhanabhakdi's ThaiBev and TCC Assets have agreed to back the sale of Singapore-based Fraser and Neave's (F&N) stake in Asia Pacific Breweries (APB) to Heineken.
Heineken has offered 5.6bn Singapore dollars ($4.6bn; £2.8bn).
Analysts said chances of Heineken's bid being accepted by F&N were now higher.
Shares in Lonmin jumped 9% when trading began in London, after the firm signed a pay deal with striking miners in South Africa.
The deal brings to an end a strike lasting nearly six weeks at the Marikana mine in Rustenburg.
The miners cheered when they were told late on Tuesday that they would get pay rises of between 11% and 22%.
By midday in London, Lonmin shares had fallen back slightly and were trading 3% higher.
Japan Airlines shares rose modestly on the firm's relisting on the Tokyo Stock Exchange, more than two years after it filed for bankruptcy in one of Japan's biggest corporate failures.
JAL shares climbed 1%, trading at 3,830 yen up from 3,790 yen.
The 663bn yen ($8.5bn; £5.2bn) initial public offering comes after the airline was given a government-backed bailout in 2010.
The world's largest clothing retailer, Inditex, which owns Zara, has posted a jump in first-half profit after opening new stores and gaining new customers.
Spain's Inditex reported a net profit of 944m euros ($1.23bn; £758m) for the six months to 31 July, up 32% on the same period last year.
Net sales rose 17% to 7.2bn euros, while like-for-like sales, which excludes new store openings, rose 7%.
In the UK, fashion chain French Connection has reported a half-year loss after sales fell during what it described as a "very difficult" six months.
The firm reported a loss of £6.3m for the six months to 31 July, down from a £700,000 profit last year.
Revenues fell by 7% to £96m, while UK and European sales, which account for half its revenue, fell 9.5%.
The retailer announced plans to revive its UK stores but said the recovery would "take some time".
The latest Business Daily programme on the BBC World Service looks at how the dispute over uninhabited islands in the East China Sea will affect Japan and China's economies, and also asks how much more room there is for smartphone innovation.