Europe’s biggest bank HSBC warns of challenges ahead after reporting an 18 per cent plunge in third-quarter pre-tax profit. It missed expectations due to a weak performance in the European market but Chief Financial Officer Ewen Stevenson tells CNBC business in Asia is holding up despite the impact of the global trade disputes and unrest in Hong Kong. A 'mixed' picture for electronics group Philips in the third quarter, with margins still under pressure. CEO Frans van Houten tells CNBC the group moved too slowly to counter the effects of the U.S.-China trade war. LVMH goes after the little blue box in what could be the biggest M&A deal in Europe this year. The French luxury giant reportedly offered $14.5bn for U.S. jeweller Tiffany’s. In the latest Brexit development, Brussels is reportedly set to sign off on a three-month extension until January 31st, with the possibility of an earlier exit if U.K. Parliament ratifies the divorce deal.

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