Cliff diving continues: Dow -1.43% to 12574. S&P -1.38%. Nasdaq -1.28%. Stoxx 50 -0.9%.U.K. -1.1%. Germany -1%. France -0.89%.
Rate cuts to begin next year? Inflation numbers provide a brief spark of hope: inflation slowed to its weakest rate in nine months in October. The wholesale price index rose 7.45% in October (expectations of 7.90%) from a year earlier as food prices cooled, down from September’s 7.81% rise. (WSJ)
Another way to cut debt: issue more equity… and blame the regulators. DLF will issue fresh equity shares in the next fiscal to dilute promoters’ stake to 75%. (ET) [stockquote]DLF[/stockquote]
Should we cheer that NPA’s are not that bad or should we worry about loose reporting? State Bank of India today said it has discovered an anomaly in the computation of stressed assets for the September quarter, which reduces the slippages by around Rs 1,400 crore. (ET) [stockquote]SBIN[/stockquote]
Corruption brining us down BRIC by BRIC: the Russia and China story.