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By Hugo Dixon
Germany, Finland and the Netherlands have made clear that there won’t be a free lunch for Spain, Ireland or other countries if they need euro zone cash to recapitalise their banks. All the more reason for Madrid to grasp rapidly other lifelines available to shore up its finances.

Nixing China’s oil bid may create Canada discount

By Christopher Swann
The market reckons there’s a one-in-four chance politicians will scupper CNOOC’s offer for Nexen. Takeovers by state-owned companies raise tricky questions. But hoisting the Canadian flag over a company of little strategic importance risks further alienating outside investors.

BBA ouster is right first step for Libor reform

By George Hay
The British Bankers’ Association is resigned to losing its role setting and overseeing the critical interest rate benchmark. After this summer’s rate-fixing scandal, that’s no surprise. Still, it’s an encouraging sign that Libor reform will be meaningful rather than piecemeal.
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Who will run Murdoch's grand newspaper spinoff?

By Rob Cox
With a key UK regulatory judgment on BSkyB out of the way, News Corp can focus on cleaving its newspaper empire. Critically for investors, that means picking a CEO. Wall Street Journal boss Robert Thomson appears in pole position. His appointment would spark a chain reaction.

Franco-German politics first hurdle for BAE/EADS

By Pierre Briancon
The two European defence and aerospace companies can’t merge unless Paris and Berlin settle their differences over governance and shareholdings. The tension is typical of EADS’ own complex political and economic history. The BAE deal offers a golden opportunity to clear the air.

Indian power sector bailout is a good first step

By Andy Mukherjee
The state is taking on some of its utilities’ $35 billion debt, with banks restructuring the rest. That will help fix the underinvestment that led to massive summer blackouts. But the cleanup will only work if distributors are allowed to set prices free of political interference.

iPhone 5 will live up to the hype - in time

By Robert Cyran
The 5 mln handset sales, worth some $3 bln, on debut fell well short of Wall Street’s whisper number. The figure still outpaced its predecessor’s and the iPhone 5 couldn’t meet demand. Supply-chain glitches and map-app hysteria won’t derail Apple’s chugging smartphone train.
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