The 10 things to watch in business on Tuesday September 29

Glencore shares tumbled to a record low; Asian markets are down; UK lending and money supply figures are coming

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The Independent Online

1. UK lending and money supply figures are coming. At 9.30 am UK time figures for private lending and the money supply for the UK economy in August will be released.

2. Asian markets are down. The Shanghai Composite is down 1.74 per cent, Hong Kong's Hang Seng is down 3.22 per cent and Japan's Nikkei is down 3.94 per cent.

3. Glencore shares tumbled to a record low. Shares in mining giant Glencore plunged 30 per cent after analysts raised fears about lower metal prices.

4. Unions are to begin talks over the future of SSI’s Redcar, one of the UK’s biggest steelmaking plants in the north-east of England, after the company announced its closure with the loss of 1,700 jobs, the BBC reports.

5. Chinese President Xi Jinping will make his first state visit to Britain next month, the British government said on Tuesday, 10 years after the last such visit by a Chinese president.

6. German prosecutors have launched a fraud investigation against ex-Volkswagen boss Martin Winterkorn.

7. India's central bank cut interest rates by 0.5 per cent for the fourth time this year as it aims to boost growth. The Reserve Bank of India (RBI) reduced its repo rate to 6.75 per cent from 7.25 per cent.

8. Societe Generale is considering closing 20 per cent of branches by 2020 in France as more clients go online.

9. Plumbing and heating giant Wolseley has reported a 10.1 per cent rise in revenue in its yearly earnings report.

10. Troubled insurance outsourcer Quindell targeted by £9 million class action lawsuit by a lawfirm.