It is not a hidden news that European Union wants to increase its business ties with the world's biggest economies. It seems that they have been working hard on their plan. It has been found that a free trade pact talks are going to take place with Japan.

France is deeply upset with the Indian steel giant ArcelorMittal from past few days and is no longer interested to have the firm operating in their country.

In order to focus and strengthen its core expertise, Siemens AG has entered into a deal with Invensys and is going to buy their rail business. The deal has taken place and Siemens AG has bought the rail business for 1.74 billion pounds.

With Chinese and South Korean stocks slipping down on the day, Japanese stocks were reported highest in seven months on Monday.

According to recent reports, tension between the steel giant Mittal and France is on a high rise as France is extremely upset with it.

Arnaud Montebourg, the French Industrial Renewal Minister said that Mittal has never respected France and therefore, doesn't wasn't it in France anymore. He further said that France is finding another industrial partner to carry out the operations further.

Though, the mining industry in South Africa was recently rocked by a number of strikes. A recent report has shed light that many more strikes could be seen in the first quarter of the coming year for the reason that thousands of jobs are to be shed.

Consumer sentiments in US saw a reading of 82.6 by the end of October which rose 84.9 in the beginning of the next month. But as the month went by, currently the reading has fallen far below the expectation to 82.7.

World's largest chemical company in term of sales, BASF from Germany is all set to take over the Norway's Pronova BioPharma PRON.

Pronova is currently a leading supplier of omega-3 fatty acids which will now be bought by the German based BASF. The deal will be valued $844 million that mounts to 4.85 billion Norwegian kroner.