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Good morning. Here’s what you need to know:
- Asian markets were mostly down in overnight trading, with the Nikkei down 2.09%. Most European indices are lower this morning, and U.S. futures suggest a lower open. See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
- FOMC minutes are released today at 2:00 PM ET. The minutes pertain to the meeting held by the Federal Open Markets Committee from three weeks ago. Follow coverage of the release at Money Game >
- China has increased the reserve requirement for six of the country’s major banks to 17.5%. The move suggests continued concerns over the expansion of credit in the country. Think China is a bubble? Check out the most ridiculous bubbles in history >
- The conflict between China and Vietnam over the South China Sea was not resolved at the Asean forum. Vietnam wants the dispute to be dealt with peacefully, but China is not budging on its position, even though the U.S. is pushing for a regional resolution.
- Thailand is targeting foreign investors in the country’s bond market with a 15% tax on capital gains and interest payouts. The move is intended to slow the flow of capital into the country’s sovereign bonds and state-owned company debt. The global fight over currency in capital is one of our stories to watch, check out the other 9 here >
- Goldman Sachscut its price target for Deutsche Bank as a result of the firm’s new share sale and acquisition of Deutsche PostBank. The price target was cut 9.5% to $71.80.
- More strikes will hit France today, as workers protest the increase in the retirement age to 62 and increase in age for a full pension to 67. The strikes may already be hitting the French economy through the CAC 40, which is down over 1% this morning. Here’s why Europe is doomed to crisis after crisis >
- UK inflation has exceeded the government target of 3% for the sixth month in a row, hitting 3.1%. A survey on Q3 growth by the British Chamber of Commerce suggests a significant slowdown.
- Wall Street pay is set to rise to a record $144 billion, according to a Wall Street Journal survey. It suggests pay will be weak at Citigroup, but up at Goldman Sachs and Bank of America.
- The rapid increase in corn prices is hitting beef and pork markets as well. Retail costs for meat are likely to be at their highest level since the 1980s. If a food crisis erupts, here are the 25 countries that will be in trouble >
- Bonus: Courteney Cox and husband David Arquette have split after 11 years of marriage, according to Us Weekly.