Bershidsky On Europe: Alcatel Lucent Cuts Jobs

Both teams were awarded a half point Sunday morning when GB&I’s Simon Khan withdrew with a back injury, which forced Continental European to eliminate one of its players as well. Thomas Bjorn drew that unlucky distinction, leaving both sides in need of five points for the victory. The singles went down to the final match, and as he did at the Ryder Cup in Medinah, Francesco Molinari anchored the winning side, securing a long-awaited Continental Europe victory with a 3 & 2 defeat of Chris Wood at Saint-Nom-La- Breteche. “Very emotional — it’s been a tough day,” said winning captain Jose Maria Olazabal. “Everything went to the last match. The boys really played well today and I’m very, very happy to have won the Seve Trophy this time.” GB&I struck first on Sunday when Tommy Fleetwood claimed his first point of the week with a 3 & 2 win over Joost Luiten, who was unbeaten entering the match. After Jamie Donaldson and Gonzalo Fernandez-Castano halved their match, Ryder Cup standout Nicolas Colsaerts drew Continental Europe even, draining a 5- footer for par at the last to secure a 1-up win over Paul Casey. Frenchman Gregory Bourdy then continued his stellar play and pushed Continental Europe in front with a 4 & 3 triumph over Scott Jamieson. Bourdy, who never trailed in the match, became the first player in the event’s history to win five points out of five. “I’m so happy to achieve that, and it was an amazing week for me,” said Bourdy. The jostling continued, however, as Marc Warren wrapped up a 4 & 3 ousting of Thorbjorn Olesen to again square the tournament, 12 – 12, with four matches left on the course. From there, Continental Europe took control. Jimenez put the finishing touches on his convincing win, which was aided in part by the ailing Lynn, who twice dropped his ball into the water. Matteo Manassero then increased Continental Europe’s advantage to a pair with a 3 & 2 defeat of Stephen Gallacher. Paul Lawrie showed the GB&I mettle with a 2 & 1 win over Mikko Ilonen, but Molinari was in control at that point, holding a 2-up lead over Wood through 14 holes.

Europe stocks fall; luxury-goods firms hit

New Norwegian government announces modernization plan The right-wing coalition that came to power in Norway in September has announced its first plans. They include the creation of a $16 billion infrastructure fund that will finance the improvement of roads, railroads and broadband cable network. The government will also cut taxes, using up to 4 percent of the country’s $780 billion oil fund per year to finance deficits, and remove unnecessary and sometimes downright silly restrictions. The coalition proposes to lift bans on Segways, water scooters, professional boxing and poker championships and to raise the speed limit on some roads from 100 to 130 kilometers per hour. After eight years of Socialist government, Norway, the country with the highest percentage of public sector workers in Europe, is overdue for some modernization and at least a modest revival of private initiative. Serbia “on the verge of bankruptcy ” According to Serbia’s Deputy Prime Minister Aleksandar Vucic, the country is “almost bankrupt, in the true sense of the word.” The only way to save Serbia’s economy, according to Vucic, is to cut salaries in the public sector. The cuts will affect up to 500,000 government sector workers in the country of 7.2 million. Serbia does need to cut its budget deficit of about 5 percent, and its debt has grown from 40 percent to 60 percent gross domestic product in the last four years. The International Monetary Fund refused to lend Serbia $1 billion because it has failed to make promised spending cuts. The situation, however, is not as dire as Vucic would make it look. The United Arab Emirates have agreed to provide the $1 billion on relatively easy terms, and the IMF will reopen talks if the government commits to more responsible spending. Vucic’s alarmist rhetoric is meant to make the inevitable salary cuts more palatable. Santander to buy Spain’s biggest consumer credit operation The Santander banking group is acquiring the credit arm of El Corte Ingles, Spain’s only remaining department store chain, for $190 million.

Governor: Europe position won’t deter executions

Joseph Franklin is scheduled to be put to death on Nov. 20. Until recently, Missouri and other states with the death penalty used virtually the same three-drug protocol. That changed in recent years as drug makers stopped selling the traditional execution drugs to state corrections departments because they didn’t want them used in lethal injection. Nicklasson was convicted of killing a good Samaritan who stopped to help after Nicklasson’s car became disabled on Interstate 70 in 1994. Franklin is scheduled to be put to death for the 1997 shooting death of Gerald Gordon at a St. Louis area synagogue. Franklin has also been convicted of racially-motivated killings in Utah and Wisconsin, and bombing a synagogue in Tennessee. The uncertainty over Missouri’s execution protocol prompted Republican state Sen. Kurt Schaefer, a 2016 candidate for Missouri attorney general, to suggest last week that Nixon consider reopening the state’s gas chamber. Democratic Attorney General Chris Koster brought up the same idea in July.

Western bank retreat clouds emerging Europe’s recovery -IMF

Among decliners, LVMH Moet Hennessy Louis Vuitton SA /quotes/zigman/165816 FR:MC -0.03% /quotes/zigman/165816 FR:MC -0.03% fell 1.1%. In a report published Sunday , Reuters said analysts are growing increasingly concerned about the luxury groups brands and are worried these wont be able to provide alternative growth now that cash cow Louis Vuitton has fallen on tough times. A warning from Treasury Secretary Jacob Lew that Congress is playing with fire if it doesnt increase the debt ceiling in time increased investors anxiety about the U.S. budget stalemate and looming deadline to raise the countrys debt ceiling. Government shutdown: Track the latest news out of Washington /conga/story/2013/10/governmentshutdownstream.html 282136 The news that U.S. politicians have again put self-interest ahead of the greater good of the country by failing to make any progress in sorting out the budget or tackling the debt ceiling will have surprised few, said Alastair McCaig, market analyst at IG. The U.S. debt markets have remained calm, but the closer we get to the mid-October deadline, the less likely that is to remain the case, he said. One bright spot for Europe was Italy, with the FTSE MIB Italy index /quotes/zigman/1482176 XX:FTSEMIB -0.23% rising 0.7% to close at 18,425.82. Toward the close of markets on Friday, Italian stocks rallied on news a Senate panel had voted to expel former Prime Minister Silvio Berlusconi. Banks in Italy were the biggest gainers in Europe, with UniCredit SpA /quotes/zigman/7909864 IT:UCG -1.30% up 2.5% and Banca Monte dei Paschi di Siena SpA /quotes/zigman/204677 IT:BMPS +2.08% up more than 6%.

“We are not taking a position whether this is the right thing to do or not. But we certainly do not see a concern,” he said. Roaf said that if external risks subsided, the IMF’s current $34 billion Flexible Credit Line (FCL) for Poland could be curbed or not extended at all when it expires early 2015. Warsaw has not used the FCL, but keeps it as an insurance against a rapid withdrawal of foreign capital, which allows it to enjoy lower borrowing costs. (Writing by Marcin Goettig; Editing by John Stonestreet) @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Terms Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page . Quotes are updated automatically, but will be turned off after 25 minutes of inactivity.