And when the markets in Europe closed a couple of hours ago, London's FTSE 100 was down. So was the Dax. The Euro was up. In the US, trading comes to a close shortly and the Dow Jones in down, while the S&P 500 is up.

 

 

And the Australian dollar is worth nearly 104 US cents this morning. It'll also buy you 65 British pence and 127 New Zealand.

 

 

The internatioanl airline group has warned that its Spanish carrier Iberia is in a fight for survival. It's unveiled its restructuring plan to cut 4,500 jobs. IAG owns British Airways and Iberia. It announced a 25% fall in third-quarter operating profit, due to rising fuel costs and poor performance from Iberia. The Group now plans to downsize Iberia's fleet by 25 aircraft and slash salaries as the Spanish carrier. 

 

 

Delegates of Chiese Communist Party's National Congress have been told the repercussions of the global financial crisis could linger for years. Premier Wen Jiabao made the comment during a panel discussion. He says increasing people's income is one task that needs addressing in the next five years. Mr Wen also claimed China needs to push forward with reform and economic restructuring in a bid to avoid a unstable, uncoordinated and imbalanced development.