Global roundup: Dow -0.07% to 12787. S&P +0.06%. Crude -2.45% to $87.09. London +0.18%. Germany +0.69%. France +0.65%.
Hewlett Packard says it had been duped into overpaying for one of its largest acquisitions, leading to an $8.8 billion write-down and a huge quarterly loss. (WSJ) Indian ADRs feeling the heat: INFY -2.9%, WIPRO -1.6%. Stock to watch: [stockquote]MPHASIS[/stockquote]
Gold’s 12-year rally, the longest in at least nine decades, is poised to continue in 2013 as central bank stimulus spurs investors from John Paulson to George Soros to accumulate the highest combined bullion holdings ever. (Bloomberg) [stockquote]GOLDBEES[/stockquote]
The global economy is likely to be stuck in the “twilight zone” of sluggish growth in 2013, Morgan Stanley has warned, but if policymakers fail to act, it could get a lot worse. Under a pessimistic scenario global GDP is likely to plunge 2%. (CNBC)