10 things you need to know in markets today
Volkswagen says its staff flagged up the latest emissions faults. The findings, which the Wolfsburg, Germany-based company made public on November 3, were disclosed by employees during an internal investigation, Volkswagen said in a statement on Sunday.
Britain's Prime Minister David Cameron will warn the EU that he may back a Brexit if Brussels doesn't re-negotiate a new deal with him. Cameron is due to outline British demands for renegotiation of its European Union membership terms in a letter to the President of the European Council, Donald Tusk.
The European Central Bank will have to debate whether more stimulus is needed. As ECB officials wait for eurozone growth data this week, the slowdown in China and other emerging markets has prompted a drop in commodity prices, confounding their attempt to stoke price pressure via bond buys to the tune of 60 billion euros ($64 billion) a month.
China's trade drops well below expectations in October. Exports fell 6.9% from a year ago, dropping for a fourth month, while imports slipped 18.8%, leaving the country with a record high trade surplus of $61.64 billion, the General Administration of Customs said on Sunday.
Saudi Arabia will not cut oil production. Saudi officials told the Financial Times that it is determined to stick to its policy of pumping enough oil to protect its global market share despite the financial pain inflicted on the kingdom's economy.
Global GDP is a lot worse that what analysts forecast, says the CEO of Maersk. Nils Smedegaard Andersen, CEO at the owner of the world's biggest shipping line Maersk told Bloomberg the world's economy is growing at a slower pace than the International Monetary Fund and other large forecasters are predicting.
Goldman Sachs is walking away from BRICs by closing a key fund. The Wall Street giant, which has been a major supporter of growth in Brazil, Russia, India and China announced in a filing to the Securities and Exchange Commission poor performance and consistent lagging of benchmarks is the reason for the closure of the fund. Assets under management had dwindled to about $100m, from a peak of more than $800m at the end of 2010.
Lufthansa is cancelling 929 flights due to strike on Monday. The strike is part of a week of action organised by cabin crew union UFO to push demands in a long-running row over early retirement benefits and pensions.
Snapchat is closing the gap on Facebook in video with a reported 6 billion daily video views to Facebook's 8 billion. That number has tripled since May, the FT's Tim Bradshaw reported, citing people close to the company.
China confirmed that China's President Xi Jinping will attend a key Asia-Pacific forum in Manila this month. The Asia-Pacific Economic Cooperation (APEC) meeting will take place in Manila from November 17 to 19. China and the United States have been embroiled in a row over the South China Sea, much of which is disputed between China and several US allies.