Wednesday, January 14, 2009

Quick Overview

  • U.S. retail sales fell 2.7% in December, the sixth consecutive decline.

  • Industrial production in the Euro area fell 1.6% MoM, and 7.7% YoY.

  • Japan’s machine orders, fell 16.2 % MoM -- the biggest decline since the survey began in 1987

  • Canada's Nortel Networks filed for U.S. bankruptcy-court protection

  • Fears of mass unemployment and social unrest in China have prompted the Communist Party to issue a stern warning over protests.

  • The number of Internet users in China has reached 298 million

  • Bank lending rose19% in China last month, showing that Beijing's stimulus measures are working.

  • (WSJ) The U.S. government is close to committing billions in additional aid to Bank of America as it tries to digest its acquisition of Merrill Lynch.

  • Standard & Poor's has downgraded Greek sovereign debt in a move that will make it even harder for the country to finance its ballooning deficits

  • A federal judge denied another bid by prosecutors to jail Madoff.

  • The U.S. Navy was granted a one-year permit to train with sonar and bombs in Hawaii waters so long as it “tries” to protect whales and other marine animals from harm.

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