Model Alessandra Ambrosio
Image: Joe Seer/Shutterstock
Good morning. Here's what you need to know.
  • Asian markets traded mostly lower overnight, led down by the Australian ASX 200, declining some 1.3%. European markets are nearly entirely in the green, while U.S. futures point to a positive open. 
  • The Italian government issued €9 billion of 179-day bills to strong demand. The notes sold at 3.251%, down from 6.504% as recently as November 25, a 325 basis point improvement. The sale had a bid-cover ratio of 1.69.
  • The European Central Bank's overnight deposit facility set a record high on Tuesday as deposits topped €452 billion at the bank, up from €411 billion a day earlier. Banks are increasingly turning to the ECB to buffer themselves from other risk-taking financial institutions.
  • Japan announced disappointing economic data overnight, with household spending falling 3.2% and retail sales off 2.3%. Economists had forecast a 1.2% decline and 0.1% gain, respectively. Industrial production also fell during the month in the island nation.
  • South Korean business confidence declined to a 30-month low following Kim Jong-il's death and continued stress in Europe, the Bank of Korea announced. Manufacturer outlook fell four points to 79, while consumer confidence dipped below 100. 
  • The People's Bank of China will force all gold exchanges to halt operations, excluding the official exchange in Shanghai. China's central bank cited irregular activities and possible illegal activity for ending trading.
  • Online spending in the U.S. surged 15% this holiday season, comScore estimates. The market research firm forecasts that consumers in the U.S. purchased more than $35 billion worth of goods and services through the Internet, up nearly $5 billion from last year.
  • Morgan Stanley plans to layoff up to 580 employees from its New York offices, including its flagship 1585 Broadway location. The investment bank issued a WARN notice to New York state, a requirement when a company with more than 50 employees plans on cutting headcount in the state.
  • The New York Times Company plans to sell 16 regional newspapers to Halifax Media Holdings LLC for $143 million. The sale includes the The Press Democrat in California, the News Chief in Florida, and The Tuscaloosa News in Alabama.
  • Google social network Google+ is adding 625,000 new users a day, Ancestry.com founder Paul Allen reports. At that pace, the company will top 300 million users by the end of 2012. Google+ currently has some 62 million members.