Morning in brief: Twist fails to inspire markets
Stocks and commodities have dropped in the wake of the news from China and the US which saw the Federal Reserve slash growth estimates and a report which indicates China’s manufacturing will drop for the eighth consecutive month.
According to Bloomberg, the MSCI All-Country World Index fell 0.3% this morning while the Stoxx Europe 600 Index lost 0.5% and Standard & Poor’s 500 Index futures dropped 0.5%. Oil fell by 1.7% to reach the lowest since October 2011.
Apple has been ordered to pay an undisclosed amount in damages to Samsung Electronics based on a patent infringement. The dispute is over how phones and tablet PCs connect to the internet.
The BBC reports that this is not the only legal challenge Apple has recently faced. The tech giant was fined $2.3m (£1.5m) in based on its claims on 4G capabilities of the iPad.
Spanish borrowing costs could hit a new high ahead of the results of a banking sector audit, which could lead to the government putting in a request for up to €100 billion in aid from eurozone finance ministers, writes Reuters.
Will Dale Nicholls do a better job than Anthony Bolton running the Fidelity China Special Situations trust?