Quick Overview

• UBS said a trader of its investment bank unit has caused a loss estimated at USD 2bln  
  

• Moody's cutting the long-term credit rating of Crédit Agricole and Société Générale

• The U.S. EIA reported:
• Oil inventories fell by 6.7 million barrels
• Gasoline supplies rose by 1.9 million barrels,
• Distillates fuel inventories rose by 1.7 million barrels

• Italy cleared a 54-billion-euro emergency budget plan aimed at balancing public finances by 2013

• Eurozone industrial production rose by 1.0% in July.

• Indian inflation rose to 9.78% in August from 9.22 in July.

• The number of U.S. homes that received an initial default notice rose 33 % MoM