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Good morning. Here’s what you need to know:
- Asian markets were mixed in overnight trading, with the Nikkei up 1.91%. European markets are mixed in early morning trading as well, and futures suggest a higher open in the U.S. See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
- The U.S. producer price index rose more than expected. Read analysis here >
- Initial jobless claims were worse than expected. Read analysis here >
- Singapore has tightened its monetary policy in a move that will strengthen the country’s currency against the dollar. The dollar index is at a 2010 low, and the dollar is near parity with the Australian dollar. The battle over currencies is one of our stories to watch, check out the other 10 here >
- China’s foreign currency reserves reached a new all-time high of $2.65 trillion. Reserves increased 16.5% year-over-year, and this is likely to put more pressure on China to revalue the yuan. Check out these 15 facts about China that will blow your mind >
- OPEC’s meeting in Vienna is likely to produce no changes in the oil cartel’s output. The group, led by Saudi Arabia, are content with current pricing that sees a barrel worth $70 to $80. Check out the 15 oil and gas pipelines changing the world’s strategic map >
- Swiss investment banking giant UBS will not be taking legal action against ex-corporate chiefs for their pre-financial crisis decision-making. The company’s review noted failures it its growth strategy and a lack of capable risk analysts.
- The German economy will expand 3.5% in 2010, rather than the 1.5% originally projected, according to German organisations. This is due to an increase in export demand and domestic consumer consumption.
- French Unions yet again intend to strike today, with some transport workers taking their third consecutive day off. The protests aim to halt the increase in the retirement age to 62, from 60. Here’s the real reason it’s doomed to crisis after crisis >
- Vodafone stock is surging as a result of increased confidence its U.S. division, Verizon, will start paying the parent company a dividend. Vodafone owns 45% of Verizon.
- Bonus: The real reason for Courteney Cox’s split with husband David Arquette was her growing “emotional affair” with Cougartown co-star Brian Van Halt, according to Radar Online.