Quick Overview

• U.S. Retail sales were up 1.0% in November, more than expected. Excluding autos and gasoline, sales were up 0.9%.
  

• China's economy may have modest downslide after 2006, with its GDP growth to slow from the current 10.4 percent to 9.6 percent in 2007 and 8.7 percent in 2008, the World Bank said.
  

• The U.S. Department of Energy said that:
  Supplies of crude oil were down 4.3 million barrels last week to 335.4 million barrels.
  Supplies of unleaded gasoline were down 100,000 barrels
  Supplies of heating oil supplies were down 700,000 barrels.
  

• U.K.'s Unemployment rate at 5.5% from 5.6% the previous month.
  

• Russia is preparing to cut off natural gas supplies to neighboring Belarus and Georgia unless the two former Soviet republics agree by the year-end to pay much higher prices in 2007.
  
  

• Shanghai Baosteel, China's leading steel manufacturer, has produced X120, the world's strongest gas transmission pipeline steel, sources with the company said on Tuesday.
  
  
  

• Executives predict 'talent war' as companies compete for scarce Chinese-speaking graduates.