Bear claw
Stocks tanked across Europe — including 3.2 percent in London and 3.3 in Germany — yesterday amid concerns about debt overload in Dubai. Trad ers expect more of the same in New York, when markets open today after the Thanksgiving holiday. The sell-off triggered swings in currency bets, with the long-laggard US dollar climbing as much as 2 percent against most currencies, and gold snapped its weeklong rally, dropping to $1,188.38 an ounce in London.
KKR target
KKR is reportedly in the hunt for Siemens’ hea ring-aid business, which could fetch $4.5 billion. KKR is among several buyout firms eyeing the Munich-based unit.
Saab story
A Chinese company may step up as the sole buyer of General Motors’ Saab automobile group after partner Koenigsegg Group of Sweden pulled out of talks. Beijing Auto motive is among a group of prospective buyers that have approached GM about buying the Swedish carmaker. Oth ers include Wyoming in vestment group Mer banco and Manhattan- based Renco Group.
Tokyo rising
Japan’s unemployment rate in October unexpect- edly fell for a third month, a sign the worst may be over for the labor market. It declined to 5.1 percent — half the size of the monthly rate of America’s 10.2 percent. Unlike in the US, the government has stepped up measures to support workers, and yesterday’s figures indicate that growth spurred by ex ports and production is spreading through the economy.