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Morning business round-up: Optimism fuels the markets


What made the business news in Asia and Europe this morning? Here's our daily business round-up:

amid confidence that eurozone leaders will this weekend agree concrete proposals to solve the eurozone debt crisis, but doubts set in later, dragging shares down again.

A closely-watched report warning that was a stark reminder that, despite all the hope and optimism, Europe faces deep-rooted problems.

Philips, the Dutch consumer electronics giant, underlined these difficulties .

Alongside the announcement, Philips posted a sharp fall in third-quarter profits.

There was better news for oil group BP, which over the Gulf of Mexico oil disaster.

Investors saw it as a big breakthrough in the long-running legal battles between BP and its partners in the Gulf exploration project, sending its shares 5% higher.

International security group G4S surprised investors with a £5.2bn ($8.2bn)

However, G4S shareholders did not like news that they would be asked for up to £2bn to help finance the deal. The company's shares were almost 20% down in morning trading.

media captionBiz Heads

In China, Wal-Mart's troubles over the alleged mislabeling of pork products intensified. .

The allegations have led to the closure of 13 stores and detention of 37 Wal-Mart employees.

Meanwhile, the battle between Samsung and Apple over alleged copyright infringement continues.

It follows similar action in France and Italy.

The move comes after a court in Australia temporarily banned the sales of Samsung's Galaxy Tab 10.1.

Finally, the latest edition of Business Daily from the BBC World Service looks at whether shareholders should get a smaller slice of company profits, to make capitalism fairer.

There is also a feature on whether the eurozone crisis has affected investment in Africa. Runa Alam, co-founder of the Development Partners International Fund, gives her view.