Good morning. Here’s what you need to know:
- Asian markets were mostly red last night, with Shanghai down 0.92%. European markets are even worse, based on trouble with Ireland, Portugal and Spain. Follow the action at Money Game > Also, See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market >
- More artillery fire was reported in the Koreas as fears of war continue. The KOSPI in Seoul was down over 1 per cent. See photos of the North Korean rocket attack >
- Fitch boosted Hong Kong’s credit rating to AA+, applauding the island’s handling of the financial crisis and its booming property market. But it remains one of 12 cities with the most overpriced homes >
- Spanish bond yields are soaring to record spreads and stocks are getting crushed too. All this over rumours that Germany would refuse a bailout. Here’s a guide to the Spanish debt crisis >
- The EU denies claims that it is pushing Portugal toward a bailout. The FT had quoted a source in the German finance ministry who said saving Portugal was the best way to save Spain. Learn more about the sovereign debt crisis >
- Austerity riots have moved to Italy. Students occupied the Colosseum and buildings across Italy to protest cutbacks to university funding.
- Black Friday shoppers are out en masse, beginning what analysts say could be the best holiday shopping season in years. Check out 11 signs holiday retail competition is even more intense than ever >
- New York’s high taxes have created a $20 million-a-month cigarette black market, robbing the state of tax revenue. Check out the biggest state budget gaps of 2011 >
- Federal officials discovered another drug tunnel from Mexico and San Diego. The tunnel is half a mile long and filled with marijuana. Check out amazing photos of Mexican cops destroying 134 tons of weed >
- Brazillian cops in military vehicles are entering the fifth day of battle against gangs in Rio. The explosive battle, part of an effort to clean the streets in time for the World Cup in 2014, has killed at least 23. See why investor love Brazil >
- BONUS: Irina Shayk, the 24-year-old girlfriend of soccer player Christiano Ronaldo, accuses GQ of photoshopping images of her to appear nude.
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