Reuters Business Report at 0930 GMT

REUTERS BUSINESS REPORT

Monday, November 10, 2008

Guy Dresser +44 207 542 2171

0930, 1330 GMT

Sonya Hepinstall and Mathew Veedon +65 6870-3827

0230, 0630 GMT

Picture Desk: Singapore +65 6870 3775

Graphics queries: +65 6870 3595

(All times GMT) ---------------------------------------------------------------

TOP HEADLINES

LONDON - Gloom sweeps Japan and other emerging economies as banking results continue to disappoint.

TOKYO -Japan Q3 machinery orders post biggest fall in decade

SYDNEY - Australia c.bank cuts growth view amid global gloom

TOP STORIES

LONDON - Mounting economic gloom sweeps through Japan and an array of emerging economies and banking giants bear the scars of the worst financial crisis since the 1930s (FINANCIAL (TOPWRAP 3), pix, tv, expect by 1000, by Mike Peacock, 900 words)

TOKYO - Japan's core machinery orders post their biggest quarterly fall in a decade for July-September and manufacturers expect only a small rebound in the last quarter of the year, boding ill for capital investment as the economy teeters on the brink of recession (FINANCIAL/JAPAN (UPDATE 3), expect by 0800, by Hideyuki Sano, 700 words)

LONDON - The bank-to-bank cost of borrowing sterling funds edged higher in early London trade on Monday, as the market adjusted to the Bank of England's hefty interest rate cut last week. (MARKETS-MONEY (WRAPUP 2), expect by 1030 GMT, by Jamie McGeever, 650 words)

SYDNEY - Australia's central bank cuts its forecasts for economic growth for the next two years, saying it would review interest rates in the months ahead with the aim of avoiding an even sharper slowdown in domestic demand (AUSTRALIA-ECONOMY/ (WRAPUP 2), moved at 0515, by Wayne Cole, 700 words)

MARKETS

HONG KONG - World stock and commodity markets surged on Monday in reaction to CHina's plan to spend nearly $600 billion on stimulating its economy as G20 finance ministers pledged to do what is needed to revive its financial markets (MARKETS-GLOBAL (WRAPUP 3), moved at 0906, by Jeremy Gaunt, 700 words)

LONDON - The dollar retreats against the euro, while the low-yielding yen falls broadly on a slight easing in risk aversion after China's announcement of a major stimulus package boosted share prices (MARKETS-FOREX (UPDATE 3),moved 0929, by Jessica Mortimer, 400 words)

LONDON - Oil rises more than $2 to above $63 a barrel, fuelled by top exporter Saudi Arabia's plans to cut December supplies to Asia, a weaker dollar and hopes that global economies' plans to lift growth could avert recession. (MARKETS-OIL (UPDATE 4), expect by 1000, by Alex Lawler, 500 words)

LONDON - A major economic stimulus package in China sparks a sharp jump in commodity prices with industrial metals leading the advance. (MARKETS-COMMODITIES/ (UPDATE 1), expect by 1200, 650 words)

LONDON - Gold climbs 2 percent, lifted by strength in other commodities after China announced a near $600 billion economic stimulus package, and as the dollar softens. (MARKETS-PRECIOUS (UPDATE 3), expect by 1030, by Jan Harvey, 500 words)

LONDON - Copper soars, leading all base metals higher, on hopes that China's $600 billion economic stimulus plan will boost demand. (MARKETS-METALS (UPDATE 4), expect by 1100, by Julie Crust, 550 words)

PARIS/SYDNEY- U.S. soybean futures rise 3 percent ahead of the U.S. Department of Agriculture's monthly crop report, seen lowering soy output estimates, and amid wider gains for commodities after China launches a huge stimulus plan. (MARKETS-GRAINS (UPDATE 3), expect by 1200, by Bruce Hextall and Valerie Parent, 500 words)

ANALYSES

BEIJING - There is no doubt that China's economic stimulus package is gigantic but, like so much in this opaque country, it is shrouded in ambiguities that complicate any assessment of its likely impact (FINANCIAL/CHINA-STIMULUS (ANALYSIS), moved 0905, by Simon Rabinovitch, 800 words)

BEIJING - The Chinese economy right now is like a big beetle on its back with its legs waving in the air, wondering what knocked it over (CHINA-CONFIDENCE (ANALYSIS), moved 0733, by Alan Wheatley, 800 words)

SHANGHAI - China's massive economic stimulus package is likely to produce at least a temporary rally in its battered equities market, while pushing bond yields down (CHINA-STIMULUS/MARKETS (ANALYSIS), moved at 0108, BY Lu Jianxin and Samuel Shen, 600 words)

ECONOMY

BEIJING - Chinese factory-gate inflation tumbles to 6.6 percent, reinforcing expectations of interest rate cuts a day after Beijing announced a shift to an easy monetary policy and a massive discal stimulus plan to shore up growth (CHINA-ECONOMY/ (UPDATE 2), expect by 0940, graphic, by Michael Wei and Jerry Hua, 500 words)

PRAGUE - Czech inflation slowed faster than expected in October, bolstering the case for lower interest rates after a bold cut last week as the central European economy suffered from recession in western markets (CZECH-INFLATION/ (UPDATE1), moved 0917, by Jan Lopatka, 370 words)

JOHANNESBURG - South Africa's Treasury said on Monday its economy was sound and it was confident its debt ratings would not be downgraded despite Fitch cutting its outlook for the country (SAFRICA-FITCH/ (UPDATE1), moved 0847, by Gordon Bell, 500 words

HONG KONG - Fitch cut Romania's credit rating to "junk" status in one of four emerging market downgrades and says the global financial crisis had put ratings of South Korea, South Africa, Russia and Mexico in jeopardy (FITCH/EMERGINGMARKETS (UPDATE 2), moved at 0522, by Rafael Nam, 600 words)

TAIPEI - Taiwan's surprise rate move has prompted analysts to expect the main policy rate to be lower than previously expected by year-end as the central bank, like the rest of the world's, aims to stimulate the economy amid a global downturn (TAIWAN-RATES/, expect by 1000, graphic, by Lee Chyen Yee, 500 words)

RESOURCES

SYDNEY - Rio Tinto Ltd/Plc, the world's No. 2 iron ore miner, will slash production by as much as a third for the rest of this year, joining its Brazilian rival in attempting to stem the fall in prices as Chinese steel demand slumps (RIO TINTO/ (WRAPUP 2),moved 0753 by James Regan, 700 words)

TOKYO - Top oil exporter Saudi Arabia provides the most visible evidence yet of adhering to OPEC's deal to curb output by telling refiners in Asia that it would cut December supplies by 5 percent, term lifters say (SAUDI-CRUDE/ALLOCATIONS (UPDATE 2), moved at 0328, by James Topham, 600 words)

JAKARTA - Indonesia's government is considering lowering the price of subsidised diesel fuel, says the energy minister amid falling global oil prices (INDONESIA-FUEL/ (UPDATE 1), moved at 0522, 250 words)

COMPANIES

LONDON - Europe's biggest bank, HSBC Holdings, said its profit in the third quarter was up from a year ago as growth in Asia helped offset more than $4 billion in bad debts on U.S. home loans (HSBC/TRADING (UPDATE 1), moved 0900, by Steve Slater, 280 words)

FRANKFURT - Allianz's Dresdner Bank u nit posted its biggest quarterly loss since the start of the financial crisis, the insurer said on Monday, pushing the group to a 2 billion euro net loss (ALLIANZ/ (UPDATE1), moved 0802, By Jonathan Gould, 350 words)

LONDON - British mutual lender Nationwide reported an 18 percent drop in its half-year profit, and said funding arrangements for the UK depositor protection scheme should be changed so that risk-averse banks contribute less (NATIONWIDE/ (UPDATE 2), by Miles Neligan, 400 words, moved 0841)

MADRID - Banco Santander <SAN.MC> announces surprise rights issue to short up its capital, and analysts said teh eurozone's biggest bank could be fortifying itself ahead of new aquisitions (SANTANDER/ (UPDATE 4), expected 1100, by Paul Day and Judy MacInnes, 650 words)

LONDON - Britain's Cable & Wireless (C&W) increased its full-year earnings guidance after posting strong first half results on Monday but said it had been forced to postpone its demerger plans due to turmoil in the markets (C&W-RESULTS/ (UPDATE3), 350 words, moved 0923)

PARIS/OSLO - leading seismic survey group CGGVeritas agrees $310 mln share bid for smaller Norwegian peer Wavefield to boost fleet of three-dimensial survey vessels as exploration groups scour globe for energy reserves. (CGGVERITAS/BID (UPDATE 3), expect 1000, by Marcel Michelson and Aasa Christine Stolz, 600 words) LONDON - Indian oil company ONGC says regulatory conditions on its $2.6 billion bid for Russia-focused oil explorer Imperial Energy had not been met, despite a Russian regulator approving the deal, knocking 14 percent off Imperial's shares.

(IMPERIAL/ONGC (UPDATE 2) 500 words by 1100 by Tom Bergin)

NEW YORK - The board of troubled insurer American International Group is nearing approval of a revised U.S. bailout to replace a previous $85 billion rescue, a person familiar with the matter says (AIG/ (UPDATE 2), moved at 0242, by Paritosh Bansal and Lilla Zuill, 500 words)

SYDNEY - National Australia Bank (NAB), the nation's biggest lender, is raising up to A$3 billion ($2 billion) in a share placement to strengthen its balance sheet, prompting analysts to predict other banks would follow suit as bad debts increase (NAB/ (UPDATE 3), moved 0857, by Mette Fraende, 600 words)

SEOUL - Shares in South Korea's Hyundai Motor plunge, dragging down the wider market, as investors worry that the U.S. may harden its stance on car trade and that Hyundai may target parts of money-losing Chrysler (HYUNDAI/SHARES, moved at 0257, by Marie-France Han, 500 words)

MELBOURNE - Orica, the world's top maker of commercial explosives, reports a 15 percent jump in full-year net profit, beating market forecasts, as it rides a mining boom and said it sees no signs of a slowdown in its sales (ORICA/ (UPDATE 2), moved at 0155, by Sonali Paul, 650 words)

CANBERRA - Australia's ailing car industry will get an extra $2.3 billion of government support to offset tariff cuts and a global economic slowdown (AUTOS/AUSTRALIA (UPDATE 1), moved at 0157, 600 words)

FEATURES

SEOUL - The global credit crunch has caused investment banks to crumble, stock markets to plunge and South Korean parents to wonder if they can still afford being the largest exporters of foreign students to U.S. schools (FINANCIAL-KOREA/EDUCATION