EUROPE MORNING UPDATE: Gordon Brown Expects Saudi Help

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THE WALL STREET JOURNAL Europe Morning Update

Nov. 3, 2008 -- 2:20 a.m. EST

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TODAY'S NEWS
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U.K. Prime Minister Gordon Brown said he believes there is support for a global fund to help stem the spread of the financial crisis.

http://online.wsj.com/article/SB122563641460491109.html?mod=djemEMU

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Societe Generale's net profit fell 84%, as the French bank increased its provisions and continued to reduce its exposure to risky assets.

http://online.wsj.com/article/SB122569227639192813.html?mod=djemEMU

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Barclays became the latest Western firm aided by rich Persian Gulf investors, as an Abu Dhabi sheikh led a recapitalization.

http://online.wsj.com/article/SB122565533288391227.html?mod=djemEMU

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Britain and France said that Congo needs help to maintain a fragile cease-fire between rebels and government troops, but made no offer to deploy EU troops following talks in the region.

http://online.wsj.com/article/SB122562621091891123.html?mod=djemEMU

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Spanish banking giant Banco Santander plans to invest $1.2 billion in Brazil during the next two years as part of its plans to expand its business by 15%.

http://online.wsj.com/article/SB122567015839791701.html?mod=djemEMU

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BT Group warned that its fiscal-year earnings will fall slightly, blaming rising costs at a unit that provides services to multinational companies.

http://online.wsj.com/article/SB122567107957491793.html?mod=djemEMU

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Italian central bank Gov. Mario Draghi called on governments to sustain demand by boosting spending or cutting taxes.

http://online.wsj.com/article/SB122567581155292077.html?mod=djemEMU

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Investment banks have earned hundreds of millions of dollars helping banks raise capital, but the pickings in the second half of the year are looking less rich than at the start of it.

http://online.wsj.com/article/SB122566511821291501.html?mod=djemEMU

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FEATURES
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Peter Buckley, who built an extraordinary record of 256 losses in 299 bouts, has gained fame for his undying optimism in the face of overwhelming odds.

http://online.wsj.com/article/SB122566709100191517.html?mod=djemEMU

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Ferran Adrià, of El Bulli, a restaurant two hours north of Barcelona, on foam, flow charts and a shortage of new ideas.

http://online.wsj.com/article/SB122540113853785535.html?mod=djemEMU

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A growing number of economists expect the Bank of England to slash its benchmark rate by a full percentage point.

http://online.wsj.com/article/SB122566755530391581.html?mod=djemEMU

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SocGen has little room for error in what remain turbulent times for Europe's banks.

http://online.wsj.com/article/SB122567668816992135.html?mod=djemEMU

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