By Lisa Twaronite TOKYO (Reuters) - Asian shares tottered on Wednesday, taking cues from Wall Street's losses and pressured by a continued selloff in oil as investors awaited consumer price data from China this session. Faced with concerns about a global slowdown, the Monetary Authority of Singapore said on Wednesday that it will ease its monetary policy for the second time this year by slowing the pace of the Singapore dollar's appreciation. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent, while Japan's Nikkei stock index shed 1.1 percent.
Crude oil futures slipped on Wednesday, extending losses from the prior session when an International Energy Agency report said the market would stay oversupplied for at least another year. U.S. shale production is expected to fall the most on record in November, extending a nationwide output decline into its seventh consecutive month, according to a forecast on Tuesday from the U.S. Energy Information Administration.
Consumer inflation in China eased more than expected in September while producer prices fell for the 43rd straight month, adding to concerns over growing deflationary pressures in the world's second-largest economy. The consumer price index (CPI) rose 1.6 percent in September from a year earlier, the National Bureau of Statistics(NBS) said on Wednesday, lower than expectations of 1.8 percent and down from August's 2.0 percent.
By Philip Blenkinsop and Martinne Geller BRUSSELS/LONDON (Reuters) - The world's top two brewers, Anheuser-Busch InBev and SABMiller , have agreed in principle to one of the biggest mergers in corporate history after a near month-long courtship resulted in SABMiller accepting an offer worth more than $100 billion. The planned combination announced on Tuesday would marry AB InBev's Budweiser, Stella Artois and Corona brands with SABMiller's Peroni, Grolsch and Pilsner Urquell and brew almost a third of the world's beer, dwarfing other major producers like Heineken and Carlsberg . For AB InBev the SABMiller deal will give it more breweries in Latin America and Asia and an entrance to Africa at a time when some of its home markets such as the United States are weakening as drinkers shun mainstream lagers in favor of craft brews and cocktails.
(Reuters) - General Electric Co took a big step on Tuesday in its plan to unload most of its financing operations, saying it has agreed to sell commercial lending and leasing businesses worth more than $30 billion to Wells Fargo & Co . The U.S. conglomerate has now inked $126 billion in transactions -- more than half of its overall target -- since announcing in April it would seek to reduce its GE Capital financing business to less than 10 percent of earnings as it focuses more on industrial manufacturing. GE Capital accounted for 42 percent of the company's profit in 2014.