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US stocks took a beating on Monday as the debt-ceiling battle in Washington and the broadening debt crisis in Europe weighed on investor confidence.
Swiss drugmaker Novartis has seen net profits rise 12 per cent to $US2.73 billion ($A2.58 billion)in the second quarter amid strong sales of new products.
Britain's competition watchdog has reiterated its ruling for Spanish-owned airports operator BAA to sell two more airports including London Stansted.
Bank of America has reported a loss of $US.1 billion during the second quarter partly due to a $US8.5 billion settlement with investors.
A new mine in south India could contain the largest reserves of uranium in the world, a government official says.
The omission of a warning that rates would have to rise "at some point" was a key feature of the minutes of the RBA's July monetary policy meeting.
