NEWS
- U.S. Senate Democratic leader says $15 billion auto bill essentially complete
- Chinese to spur slowing economy, European data bleak
- China's exports, imports fall as economy hits wall
- Output sinks across Europe, car factories hit
- Rio Tinto to cut 14,000 jobs, slash spending
MARKETS
- Equities rise on bailout hopes
- Oil up $2 after overnight slump, awaits U.S. data
- Yen edges down against the dollar and euro, stock gains
warm investor appetite for risk
QUOTES
- "The general requirements for next year's economic work are maintaining stagble but rapid economic growth by boosting domestic demand." - statement by China's Central Economic Work Conference on state radio.
- "Global demand for Chinese products is vanishing." - Gene Ma, economist at China Economic Monitor, a Beijing consultancy. - "Drastic times call for drastic measures. They've addressed all parts of the equation. They've definitely gone into survival mode, which is appropriate given the market circumstances." - Tim Schroeders, portfolio manager at Pengana Capital, Melbourne, on Rio Tinto job cuts.
- "Industrial output in the euro zone has fallen into a very deep recession, suggesting that GDP in Q4 could contract even more sharply in Italy, France and Germany than is currently assumed." - Holger Schmieding, a Bank of America economist.
EVENTS/DATA
Wed, Dec. 10
- German Nov. wholesale prices, French and Italian October
industrial production, Italian Q3 GDP
- U.S. Oct. wholesale inventories
- ECB's Jurgen Stark speaks at event in Germany
- U.S. November budget report (Compiled by London World Desk +44 207 542 2590)