Rising optimism over U.S. growth and EU debt

In October, stock markets rose amid improving U.S. economic data and better-than-forecast corporate earnings as well as growing confidence over Europe’s efforts to fight off its debt crisis. The S&P 500 Index rose 14% from October 3, when it was down almost 20% from its April peak.

China eases; forges ties with Europe

China’s economic growth eased to 9.1% in the third quarter, down from 9.5% and 9.7% in previous quarters, marking the country’s slowest pace in more than two years. Chinese investment in Europe is expected to double this year to US$8-billion, and surge over the next decade. The EU and Beijing are considering opening negotiations on an investment treaty.

Canada best for business

Canada ranked No. 1 for business, according to a Forbes survey, which rated 134 countries on 11 different factors. Data shows that Canadian companies are 30% less dependent on exports to the U.S. than 10 years ago, indicating Canada’s decreasing sensitivity to the U.S. economy. Canada’s wholesale trade advanced, but less than expected, up 0.2% in August after a 0.9% gain in July.

Canada ranks No. 8 for household wealth

Household wealth in Canada ranks eighth in the world, according to a Credit Suisse report. Canada’s wealth per capita has risen 3% since 2007, while in the U.S. it remains 8% below 2007 levels. Canadian payrolls rose by 238,400, up 1.6% in August from a year earlier. Canadian workers can expect a 3.1% pay raise in 2012, following a 3% average increase in 2011. Retail sales rose 0.5% in August after declining in July.

Emerging markets slow; pass free-trade deals with U.S.

Emerging market growth fell to a two-year low, as factory output declined following nine consecutive quarters of growth, according to an index tracking 5,800 firms in 16 countries. Free-trade deals between the U.S. and Colombia, Panama and South Korea passed after almost five years of negotiations.

Intel and Microsoft weather the tech slowdown

Worldwide PC shipments grew slower than expected in the third quarter, hurt by tablet and smartphone sales. Quarterly earnings reports show a mixed picture of how the tech sector is weathering the slowdown. Intel revenues exceeded Wall Street’s expectations, but IBM reported weaker-than-expected results. For Microsoft, weak consumer sales were offset by corporations upgrading their aging PC fleets.

Apple misses as customers await new iPhone

Shares of Apple dipped briefly on news that the company’s visionary co-founder Steve Jobs passed away at age 56. Apple reported a rare miss after sales of the iPhone fell well short of forecasts; however, the new iPhone 4S began selling after the quarter-end.

Tablet wars: Kobo Vox vs. Amazon’s Kindle Fire

Toronto-based Kobo launched the $199 Vox, a new Android tablet designed to rival Amazon’s Kindle Fire, announced last month. Amazon quarterly sales were up 44%, but profit plunged 73% from a year ago as the company invested heavily in the Kindle Fire tablet.

Majority of corporate earnings beat Wall Street expectations

Caterpillar reported a 44% jump in earnings year-over-year and forecast sales to increase between 10% and 20% in 2012. UPS posted a 5.1% increase in third-quarter earnings, although package volume was stagnant. 3M reported a 1% decline in earnings, falling well short of expectations, because of weakness in the electronics market.

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