News Headlines - 25 October 2011

▽The deadline Europe cannot afford to miss - BBC
http://www.bbc.co.uk/news/business-15456175
By the early hours of Thursday, we may finally discover how much firepower has been amassed to try and blast away the debt turmoil steadily spreading from Europe's financially wayward periphery to its core.
At 18.00 local time in Brussels, all 27 leaders begin their crucial and once-delayed summit.

▽Turkey quake: Aftershock causes prison riot - BBC
http://www.bbc.co.uk/news/world-europe-15455591
An aftershock has been blamed for sparking a riot in a prison in the eastern Turkish city of Van, one of the places worst affected by Sunday's earthquake.
Smoke was seen billowing from the compound following reports that prisoners set fire to the jail because authorities refused to let them out.

▽BP sells $15bn in assets in preparation for legal battle over Macondo spill - The Guardian
http://www.guardian.co.uk/business/2011/oct/25/bp-sells-assets-macondo-legal-battle?newsfeed=true
BP is to raise a further $15bn (£9.4bn) by selling off assets ahead of a massive legal case over the Gulf of Mexico accident amid rising concern that the fines and liabilities could be higher than expected.

▽Amazon profit forecast disappoints, stock slumps - Reuters
http://www.reuters.com/article/2011/10/25/amazon-idUSN1E79O1FZ20111025
Amazon.com Inc shocked investors with a far weaker-than-expected outlook for the crucial holiday season quarter as it spent heavily on its new Kindle Fire tablet computer.
The stock tumbled 12 percent Tuesday in extended trading as the news raised concern that Amazon was losing some of the revenue momentum that had helped investors overlook its razor-thin profit margins.

▽Japan MP urges Olympus probe as ex-CEO contacts FBI - Reuters
http://www.reuters.com/article/2011/10/25/olympus-parliament-idUSL3E7LP1Z920111025
A senior Japanese lawmaker demanded a probe of "outlandish" advisory payments at Olympus and its ousted chief executive said he was in contact with the U.S. Federal Bureau of Investigation (FBI), piling pressure on the embattled company.