- (Bloomberg) -- U.S. financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is “effectively insolvent,” said New York University Professor Nouriel Roubini.
- U.K. consumer prices rose 3.1% YoY
- The British Pound fell against the dollar and hit a record low against the yen. Jim Rogers, chairman of Singapore-based Rogers Holdings, said the “U.K. is finished” and investors should sell the currency.
- Japan’s consumer confidence fell from 28.4 to 26.2 in December -- the lowest on record
- Canada cuts rate to record 1% -- signals more easing.
- Germany's BMW is looking into applying for state guarantees to back up its borrowings.
- Fiat is acquiring a 35% stake in Chrysler.
- Continuing hot and dry weather in Argentina continues to support corn and beans.
- Gazprom resumed gas supplies across Ukraine to Europe
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