Quick Overview

• Hungary’s economy minister, said the ruling party made communication ‘blunders' by raising the issue of a possible default, but insists Hungary is not the next Greece
  

• Coastal factories are raising salaries, local governments are hiking minimum wage standards -- the cost of doing business in China is going up, and that could drive up consumer prices in the United States and Europe.
  

• OJ Producer Cutrale said Brazil's citrus crop sees its worst harvest in seven years due to bad weather and diseases.
  

• As much as 32.3 billion tons of oil can be discovered in China in the future, the 21st Century Business Herald reported Monday, citing experts from the Research Institute of Economics and Technology.

• GE said the company aims to cut by half its holdings of commercial real estate.
  

• (Bloomberg) -- The U.S. panel investigating the causes of the financial crisis issued a subpoena to Goldman Sachs Group Inc. after the Wall Street firm failed to hand over documents in a “timely manner.”

• Now some positive news about the Euro: A majority of economists polled in Europe said the euro, only 10 years old, is unlikely to survive for another five years.

• Iran: 'Sheer lie,' central bank chief says of report that country will sell 45 billion Euros to buy gold, dollars.

• A soldier has been arrested in connection with the WikiLeaks release of a classified video of a 2007 helicopter attack that killed a dozen people in Baghdad, including two Reuters news staff, the military said.

• An Egyptian security official declared the blockade of Gaza a failure Monday and said his country will keep its border with the Palestinian territory open indefinitely.