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Dollar Slightly Stronger against Emerging Market Currencies

The dollar was little changed against most of its Asia-Pacific peers on Friday as foreign exchange dealers looked ahead to closely watched U.S. employment figures released later in the day.

The exceptions were the Malaysian ringgit and the South Korean won, which both shedded more than half a percent against the dollar as most regional equity markets paused after a two-day rally marking the beginning of the month.

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Japan's Household Spending Rebounds but Recession Looms

Spending among Japanese households rebounded in August, data showed Friday, offering a glimmer of hope after a string of weak figures, but economists warned the world's number three economy was still headed for recession.

Consumers spent more on cars, household repairs, domestic travel and education costs, boosting monthly spending by 2.9 percent, well above market expectations for a 0.3 percent rise and following a modest decline in July.

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Italy Consumers Accuse McDonald's of Tax Evasion

Consumer associations in Italy have accused U.S. fast food giant McDonald's of tax evasion.

Three associations said Thursday they have filed a complaint to Italy's financial police about the alleged fraud by the company best known for burgers, chicken McNuggets and fries.

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German Prosecutors Say No Formal Inquiry against VW ex-CEO

German prosecutors said Thursday that they had not launched a formal inquiry against Martin Winterkorn, the former chief executive of auto giant Volkswagen, contrary to what they originally stated this week.

An official press statement released on Monday by public prosecutors in Brunswick was "formulated incorrectly," a spokesman told Agence France Presse.

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Indians Declare $500 Mn in Black Money in Tax Crackdown

Indians declared $500 million in black money, the government announced Thursday, a fraction of the total amount feared hidden, as a deadline for coughing up assets hidden from the taxman expired.

Prime Minister Narendra Modi took power last year pledging to crack down on black money, a systemic problem in India that sees billions of rupees hidden in foreign bank accounts or funneled into property abroad.

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Online Classified Ads Portal Scout24 Raises 1.16 Bn Euros in IPO

Scout24, a German Internet portal specializing in classified ads websites, said it raised more than one billion euros ($1.1 billion) from its stock market listing Thursday, despite a difficult market environment.

Scout24 said in a statement that the issue price for the placement of 38.4 million shares was set at 30 euros per share, raising a total of 1.16 billion in new funds which would be used to reduce debt and invested in expanding its business.

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Japanese Business Sentiment Worsens as Recession Looms

A slowdown in China and weakness at home dented Japanese firms' confidence last quarter, a central bank report showed Thursday, as tepid data suggest the world's third-largest economy has slipped into recession.

The disappointing Tankan survey supplied the latest evidence that Prime Minister Shinzo Abe's growth blitz, dubbed Abenomics, was faltering, as speculation grows that the Bank of Japan (BoJ) would have to expand its massive asset-buying plan as early as this month.

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Eurozone Slips Back into Deflation

Eurozone inflation fell unexpectedly to a negative 0.1 percent in September, data showed Wednesday, suggesting a dangerous spell of falling prices could be returning to Europe.

Analysts surveyed by Bloomberg had expected a zero rate after a gain of 0.1 percent in August.

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VW Draws Up Refit Plan for Cars in Pollution Scam

Volkswagen on Tuesday revealed a plan to refit millions of vehicles affected by a worldwide pollution-cheating scam, as its new chief vowed to act ruthlessly to overcome the "severest test" in the car giant's history.

The German government has given VW until October 7 to explain how it will resolve the scandal, which has wiped 29 billion euros ($33 billion), or 38 percent, off VW's market value in 10 days.

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Oil Prices Retreat in Asian Trade

Oil prices retreated in Asia Wednesday as traders focus on U.S. crude stockpile report, a day after growing concerns over China's economy sparked a massive sell-off in shares of commodity firms.

As Asian stocks recovered from Tuesday's rout, oil prices remain under pressure because demand growth continues to fall behind crude supply, analysts said.

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