Nigel Farage, United Kingdom Independence Party (UKIP) member and MEP, waits for the start of a debate on the last European Summit at the European Parliament in Strasbourg, France, October 26, 2016.
Deutsche Bank reported better than expected results. The BBC reports that the lender enjoyed a 2% rise in third-quarter sales to €7.5 billion (£6.6 billion, $8.1 billion) and a profit of €278 million (£248 million, $303 million), up from a €6 billion (£5.3 billion, $6.5 billion) loss in the same quarter of 2015.
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Global banks will probably lose their current legal rights to provide services in the European Union after Brexit, the UK's trade minister said in the most detailed outline yet of the government's thinking. Passporting, which allows London-based lenders and insurance companies to sell their services anywhere in the single market, is unlikely to continue after the UK leaves the 28-nation bloc, Mark Garnier said in an interview with Bloomberg News.
Asian stock markets are lower. Japan's Nikkei is down 0.34% at the time of writing (6.30 a.m. BST/1.30 a.m. ET), China's Shanghai Composite stock market is down 0.22%, and the Hong Kong Hang Seng is off 1.22%. It follows a weak session for US markets.
Samsung on Thursday said its operating profit fell 30% year-on-year in the quarter to its lowest level in two years, marred by the withdrawal of its Galaxy Note 7 smartphones. The world's top smartphone maker said third-quarter operating profit was 5.2 trillion won (£3.7 billion, $4.57 billion), matching its revised guidance. The firm had initially estimated a 7.8 trillion won profit but cut its guidance to reflect losses incurred in the withdrawal of the fire-prone Note 7s.
Chinese package delivery company ZTO Express raised $1.4 billion (£1.1 billion) in the biggest US initial public offering of the year on Wednesday. ZTO priced 72.1 million shares at $19.50 (£15.96) a share, above its previously indicated range of $16.50 (£13.50) to $18.50 (£15.14) a share.
Tesla shares rose Wednesday after the electric car and battery maker reported better than expected sales and said it is on track to meet its delivery targets for the year. Revenue in the third-quarter was $2.3 billion (£1.8 billion), well above the $1.9 billion (£1.5 billion) analysts expected.
Mexico's InvestaBank said on Wednesday it had agreed to buy two Mexican units of Deutsche Bank as the German lender exits non-core businesses amid a drive to cut costs in a major organisational shake-up. InvestaBank said in a statement it would seek a capital increase of some 2.5 billion pesos (£108.8 million, $133 million) to help fund the purchase of the units, Deutsche Bank Mexico and Deutsche Securities, without disclosing the price tag for the deal.
Snapchat's parent company, Snap Inc., is aiming to raise "as much as $4 billion (£3.2 billion)" when it goes public early next year, according to a Wednesday report from Bloomberg's Alex Barinka and Sarah Frier. A source previously told Business Insider that Snap plans to go public by late March at around a $25 billion (£20.4 billion) valuation, but now Bloomberg is saying that number could swell as high as $35 billion (£28.6 billion) or even $40 billion (£32.7 billion).
The new CEO of the Financial Conduct Authority (FCA) has hit back at a think tank report that dubbed the regulator "timid and cowed." Andrew Bailey said: "I have to say I thought the New City Agenda report was pretty disappointing. It was very rooted in the past. It drags over past history. It's just raked over the old coals."