Le Pen’s promise to take France out of the euro zone might well devastate Russia’s economy and financial stability. Russia holds close to 40 percent of its foreign currency reserves in euros. President Vladimir Putin said his country is “not interested in the collapse of the euro zone.” Source: Bloomberg
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Up to 30 Egyptian police officers have been killed in a shoot-out during a raid on a suspected hideout of fighters in the country’s Western desert, security sources say. Source Al Jazeera
A top Chinese official has claimed several high-ranking members of the Communist Party had plotted to seize power from President Xi Jinping.
These party members have since been arrested or jailed in a wide-reaching corruption crackdown launched by Mr Xi. Some observers have said the crackdown was used to conduct a political purge of Mr Xi’s opponents. Source BBC
Ericsson underperformed already low expectations as it reported a decline in third-quarter sales and big loss as the Swedish telecoms equipment maker continues to struggle. Sales in the third quarter fell by 6 per cent to SKr47.8bn, in line with analyst forecasts, but Ericsson announced an operating loss of SKr4.8bn, well ahead of average estimates of a loss of SKr3.5bn. Source Financial Times