Stockholm - Stockholm-based Carnegie Investment Bank AB lost its operating license Monday and has been taken over by the Swedish National Debt Office.

The Swedish Financial Supervisory Authority (FSA) on Monday said Carnegie during a long period of time had taken "exceptional risks" by giving large loans to a single client.

Carnegie has been under review by the financial watchdog since it recently disclosed a writedown of 1 billion kronor (126 million dollars) over "an individual credit commitment" in its third-quarter report.

Abuja - German President Horst Koehler signed two bilateral economic policy accords with Nigeria on Monday, after calling for a permanent seat for Africa on the United Nations Security Council.

Koehler, continuing his six-day visit to Nigeria, said that in efforts to reform the UN Security Council, there must be a "fair representation of Africa," although he did not specify which country should be considered to hold the seat.

Nagpur, Nov 10 : India sealed their first test series victory over Australia in seven years on Monday after Amit Mishra and Harbhajan Singh spun the hosts to a resounding 172-run win in the fourth and final test.

Speaking to media today in the post match news conference in Nagpur, which hosted the last match batsman Saurav Ganguly said that the performance is more than satisfactory.

Short squeeze likely over if the rate can trade 1.3000 handle this week. Expect a rotation lower as the rate continues to consolidate in two-way action. Traders note large stops at the 1.2950 area with more over 1.3000 but offers likely to cap on first try.

Russians buying EURO around the 1.2860 area last week traders say; offers from same likely were seen in GBP this morning. Bids on dips from profit-taking shorts some desks report. Rate possibly getting spillover effect from GBP and vice-versa suggesting both pairs may track each other near-term. Support also from cross-spreaders as they unwind Yen.

Shanghai - Roger Federer lived through a second opening-match loss in a shaky start on Monday at the Masters Cup as the top seed went down to Gilles Simon 4-6, 
6-4, 6-3.

The Red group upset was the second in three months for the unheralded Frenchman who only got into the elite field when Rafael Nadal withdrew with a knee injury.

Andy Murray joined his fellow year-end newcomer with a victory, taking down former number one Andy Roddick 6-4, 1-6, 6-1.