World Business News

Nokia's new Lumia smartphones will go on sale in November, taking on the iPhone 5 and Samsung Galaxy S III ahead of the Christmas season, but some analysts said the prices for the colourful handsets looked high.

Chinese gadget fans are scouring the Internet grey market to locate Apple Inc's (AAPL.O) new iPhone 5, giving an early indication of robust demand in Apple's second-biggest global market.

India is emerging as the sole bright spot for global steelmakers as brisk demand coupled with scarcity of raw material looks set to buoy imports by Asia's third-largest economy in the next two years, bucking a slowdown that has hit even top consumer China.

A separate report on Wednesday showed import prices rose in August as the cost of imported oil jumped, a factor that could weigh on American consumers and temporarily boost inflation.