The drop in global equities in October was remarkable for its extent, the frequency of consecutive negative days, and the synchronised decline in all the major markets, the Financial Times reported in a commentary. The most likely fundamental trigger for the severity of the equity correction was an increase in investors’ perceptions of downside, or even recessionary, risks to the global economy. Dramatic talk about trade wars obviously exacerbated the drop in confidence.

An “unprecedented” number of price rises from energy suppliers this year has caused UK household energy debt to surge by 24 per cent over the past year, research has found. At this time of year, most households have usually built up credit with their energy supplier, the Financial Times reported. Yet, despite the summer heatwave and warmer than usual autumn temperatures, price increases mean 3m households owe a total of £400m to their energy supplier, according to research by uSwitch, the energy switching service.

A group of mostly northern EU countries are lobbying for the eurozone’s bailout fund to be given a greater role in scrutinising national budgets, as fiscal hardliners step up their criticism of Brussels for inadequately policing Europe’s deficit rules, the Financial Times reported. Ten governments including the Netherlands and Ireland want the European Stability Mechanism (ESM) to be given the authority to assess the financial health of eurozone economies, powers that are currently held exclusively by the European Commission. The ESM, set up at the height of the eurozone cr

Italy’s political tensions with the European Union and the accompanying financial jitters are beginning to take a toll on the Italian economy, the latest data suggest. Italy’s unemployment rate ticked up to 10.1% in September from 9.8% the previous month, the country’s statistics agency said Wednesday, reversing a downward trend throughout this year, The Wall Street Journal reported. And on Tuesday, the statistics agency said gross domestic product was unchanged in the third quarter from the second, the worst showing in almost four years, while business confidence fell in October.

Credit Suisse reported a mixed set of third-quarter results, with revenue and net income missing expectations after a sharp fall in trading income, taking the shine off an almost 70 per cent surge in overall pre-tax profits, the Financial Times reported. The global markets division made an unexpected pre-tax loss of SFr96m ($96m) in the period after fixed-income revenues plunged 20 per cent, worse than the 15 per cent declines seen at Deutsche Bank and BNP Paribas recently.

Italy’s political tensions with the European Union and the accompanying financial jitters are beginning to take a toll on the Italian economy, the latest data suggest. Italy’s unemployment rate ticked up to 10.1% in September from 9.8% the previous month, the country’s statistics agency said Wednesday, reversing a downward trend throughout this year, The Wall Street Journal reported. And on Tuesday, the statistics agency said gross domestic product was unchanged in the third quarter from the second, the worst showing in almost four years, while business confidence fell in October.

The EU is a bully. The EU is inflexible and unjust. Our proud nation must no longer submit to the diktats of Brussels and its accomplices. These complaints of Brexiters in the UK resemble the indignation of some Greeks about their nation’s treatment during the eurozone’s sovereign debt and financial sector crises, the Financial Times reported in a commentary. The British government and people, still unable to settle on a definition of Brexit, can learn from Greece’s long, painful struggle. Some lessons offer grounds for hope.

Iceland is living up to its reputation as a land of fire and ice. Burnt fingers and cold shouldering are risks for bondholders in Icelandair. The ratio of debt to earnings has risen, and with it the risk of default on more than $200m of borrowings. With the flow of tourists that powered the airline’s growth slowing down, it is time for Iceland’s oldest airline to scale back its ambitions, the Financial Times reported. What apter way to commemorate the tenth anniversary of the financial crisis than with debt restructuring talks? Three Icelandic banks collapsed back then.

Steinhoff International Holdings NV is considering the sale of properties within French furniture chain Conforama, the latest move by the embattled retailer to shore up its balance sheet, according to people familiar with the matter. The value of the portfolio is about 800 million euros ($907 million), said the people, who asked not to be named as the information isn’t public, Bloomberg News reported. The properties are held outside European real-estate subsidiary Hemisphere, which is disposing of assets as part of a debt-restructuring deal, they said.

Crawshaw Group Plc became the latest British retailer to be hit by tough trading conditions, as it announced plans on Wednesday to appoint administrators to seek buyers after failed discussions with investors to raise capital, Reuters reported. The Rotherham-based butcher, which said that it does not have sufficient cash to restructure, has requested its trading on LSE’s junior market to be suspended. Crawshaw shares have lost 82.2 percent in value so far this year. Administrators are a form of creditor protection in the United Kingdom.