Euro-area exports fell in September as the regionís economy slipped into a recession for the second time in four years. Exports from the 17-nation currency bloc declined a seasonally adjusted 1.1% from August, when they gained 3.3%, the European Unionís statistics office in Luxembourg said today. Imports dropped 2.7% and the trade surplus widened to 11.3 billion euros ($14.4 billion) from a revised 8.9 billion euros in the previous month. The sovereign debt crisis in the euro area is taking its toll as governments impose budget cuts to narrow their fiscal deficits. GDP in the monetary union fell 0.1% in the third quarter after a 0.2% decline in the previous three months. Greeceís economy has contracted for 17 straight quarters and the Portuguese economy completed its second year of quarterly contractions.
Kirin follows Heineken with $2.2-billion bid
Kirin Holdings Co, Japanís largest drinks maker, may pay S$2.7 billion ($2.2 billion) to expand in Southeast Asia, following brewers Anheuser-Busch InBev and Heineken NV as they buy into emerging-market growth. Kirin is seeking to acquire Fraser & Neave Ltdís food and beverages unit as part of a proposed takeover of the Singapore- based company by a group led by Overseas Union Enterprise Ltd. The OUE group offered S$13.1 billion for F&N yesterday, topping a bid from Thai billionaire Charoen Sirivadhanabhakdi, and said Kirin will buy the food and beverage unit. Shares of Kirin fell the most in a month today on concern whether the investment will
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