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Morning business round-up: Spain borrowing costs rise

What made the business news in Asia and Europe this morning? Here's our daily business round-up:

Market Data - BBC News

Market Data

Share Prices

Markets

UK markets
UK markets % change Value
Change
+0.42%
7331.12
+30.89
+0.21%
20500.45
+42.18
Europe markets
Europe markets % change Value
Change
0.00%
543.07
+0.01
+0.56%
5393.74
+29.95
+0.50%
12219.02
+61.35
+0.30%
3368.56
+10.10
+0.41%
9486.30
+38.80
US markets
US markets % change Value
Change
+0.61%
26405.76
+158.80
-0.08%
7950.04
-6.07
+0.13%
2907.95
+3.64
Asia markets
Asia markets % change Value
Change
-0.45%
37121.22
-169.45
-0.13%
27370.79
-36.58
+0.14%
23704.86
+32.34
As of 05:46 20 Sep 2018

Currencies

GBP
% change One £ buys
Change
GBP against Euro
-0.03%
€1.1258
0.0000
GBP against Yen
-0.05%
¥147.5350
-0.0800
GBP against USD
+0.03%
$1.3148
0.0000
USD
% change One $ buys
Change
USD against Euro
-0.05%
€0.8562
0.0000
USD against GBP
-0.03%
£0.7605
0.0000
USD against Yen
-0.10%
¥112.1750
-0.1100
Euro
% change One € buys
Change
Euro against GBP
+0.02%
£0.8882
0.0000
Euro against Yen
-0.03%
¥131.0450
-0.0400
Euro against USD
+0.05%
$1.1679
+0.0010
Yen
% change One ¥ buys
Change
Yen against Euro
+0.03%
€0.0080
0.0000
Yen against GBP
+0.05%
£0.0070
0.0000
Yen against USD
+0.08%
$0.0090
0.0000
As of 05:45 20 Sep 2018

Commodities

Oil
Commodity % change dollars per barrel
Change
Brent Crude Oil Futures
+0.35%
79.68
+0.28
WTI Crude Oil Futures
+0.61%
71.20
+0.43
Gold
Commodity % change dollars per ounce
Change
Gold (Forex Index am fix)
+0.30%
1203.00
+3.60
Gold (Forex Index pm fix)
+0.26%
1203.30
+3.10
Natural Gas
Commodity % change dollars per million BTU
Change
Natural Gas (Henry Hub Futures)
+0.14%
2.91
0.00
As of 05:43 20 Sep 2018

Spain's borrowing costs have risen to another euro-era record, with lenders demanding a higher interest rate.

The yield on benchmark 10-year bonds hit 7% on Thursday morning, a level which many analysts believe is unsustainable in the long term.

Italy also saw its borrowing costs rise, selling bonds repayable in three years at a 5.3% yield, up from 3.9%.

Meanwhile, German Chancellor Angela Merkel has said world leaders should not "overestimate" Germany's ability to resolve the eurozone debt crisis.

She told Germany's parliament that the country's options for rescuing the eurozone were "not unlimited".

Her speech came ahead of a meeting of G20 nations in Mexico this weekend.

Nokia is cutting another 10,000 jobs globally and has warned that second-quarter losses from its mobile phone business will be larger than expected.

The cuts bring total planned job losses at the Finnish group since Stephen Elop took over as chief executive in September 2010 to more than 40,000.

Nokia will also book additional restructuring charges of about 1bn euros (£811m; $1.3bn).

Manchester United is considering moving its planned stock market flotation to the US from Singapore, according to reports.

The club, who finished second in this season's English Premier League, was previously planning a $1bn (£635m) share sale at the Singapore Stock Exchange.

If the listing is moved, it would be the latest in a string of cancelled or delayed share sales in Asia.

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Palm oil company Felda Global Ventures is set to raise $3.1bn (£2bn) in a share sale in Kuala Lumpur, reports say, the second-biggest initial public offering globally this year.

The Wall Street Journal and the Reuters news agency, citing unnamed sources, said the company had priced its offering at 4.55 ringgit a share, which is at the top end of expectations.

Felda has attracted strong domestic demand, despite share listings elsewhere being scrapped or delayed.

Shares of Esprit have fallen further after its chairman Hans Joachim Korber became the second senior executive to leave the firm in as many days.

On Wednesday, the firm said its chief executive, Ronald van der Vis, had quit.

Its shares fell as much as 14% to HK$9.03 on the Hong Kong Stock Exchange on Thursday after sliding 22% on Wednesday.

In the UK, luxury goods company Mulberry has reported a sharp jump in annual profits.

The company, famous for its leather bags, said it made £36m in profits for the year to March.

It is continuing to expand and plans to open a second factory in Somerset in the west of England, doubling production and creating 300 jobs. Internationally, it plans to open another 16 stores.

Later on Thursday, UK Chancellor George Osborne will unveil a White Paper on banking reform, which follows the recommendations made by the Independent Commission on Banking.

Savers will be given greater protection if a bank fails, under the government plans.

The ICB was set up to look at ways to make the UK banking system safer. One of its main proposals is to ring-fence High Street retail banking operations from riskier operations such as investment banking.

And ahead of crucial elections in Greece, the latest Business Daily podcast reports on the cancer-sufferers queuing for life-saving drugs in Athens, as the economic crisis bites deep.

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