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Good morning. Here’s what you need to know:
- Asian markets rebounded overnight, with the Nikkei up 2.06%. Major European indices are all positive in early morning trading, and U.S. futures suggest a positive open. See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
- Ireland’s central bank governor says the country is expecting a bailout in the “tens of billions” of euros range. IMF and EU officials are now in Dublin hammering out the details of the potential bailout of the country and its banking sector. For background, here’s how Ireland got to this point >
- Initial jobless claims came in slightly lower than expected, at 439,000. Read analysis here >
- The Philadelphia Fed survey for November came in VERY strong at 22.5. Read analysis here >
- The Chinese government is preparing a series of new rules aimed at halting the steep rise in commodity prices in the country. They include increasing the supply of food in the economy, providing support for poor families, and auctioning off reserve sugar. Here is the inflation deluge behind the rise in Chinese food prices >
- Commodities trading house Glencore’s profits rose 42% through September 2010, to $2.54 billion. The company is now considering a $10 billion IPO in London.
- SAB Miller saw its profits spike in the first half of its fiscal year, April to September. Earnings rose 19% to $1.47 billion in this time period.
- The General Motors IPO has been successful, with the company raising $20.1 billion. The U.S. government still owns 33% of the company. Check out the presentation GM used to sell the IPO >
- Sears has seen it fiscal Q3 profits fall as a result of declining same store sales in its department stores. The company reported a loss of $218 million, worse than expectations.
- The State of California has been forced to alter the structure of its recent bond sale as the municipal bond market has come under stress. The state has cut the amount of long-term tax free bonds it is bringing to market, as well as other changes. Here are 16 reasons California is the next Greece >
- Bonus: Eva Longoria has confirmed her divorce from Tony Parker, but not rumours it was driven by an affair Parker was having.