Marketplace Morning Report for Friday, December 9, 2011

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European leaders meet in Brussels for yet another summit to determine the fate of the EU, and Britain has announced it won't sign off on any fiscal union. Another summit wraps up in South Africa today, as the UN concludes its climate talks. Richard Cordray was blocked by Senate Republicans from an appointment as head of the Consumer Financial Protection Bureau. And wheat prices are falling, but that doesn't mean your cereal will be any less expensive.

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Americans purchase more even as net worth shrinks

From July to September, American families purchased more, even as their net worth shrank faster than it has at any time since the worst of the financial crisis.
Posted In: consumer confidence, retail sales, consumer spending

Wheat prices down 25% this year

Farmers are hurting as wheat prices drop, but it doesn't necessarily mean the price of bread and cereal for consumers will also fall.
Posted In: wheat prices, food costs, farming

European summit almost gets the job done

A deal was reached among the majority of countries in the European Union at today's summit, but a few countries are sticking on the sidelines.
Posted In: Europe debt crisis, david cameron

PODCAST: A less-than-perfect (European) Union

European leaders meet in Brussels for yet another summit to determine the fate of the EU, and Britain has announced it won't sign off on any fiscal union. Another summit wraps up in South Africa today, as the UN concludes its climate talks. Richard Cordray was blocked by Senate Republicans from an appointment as head of the Consumer Financial Protection Bureau.
Posted In: Europe debt crisis, United Nations

Markets hoping that EU deal goes through as planned

The EU plan still has to be ratified, and if the deal collapses, it could hit everything from the stock markets to the job outlook for Americans.
Posted In: stock market, Europe debt crisis

Markets had European debt drama 'baked in'

European countries agree to a deal on balanced budgets and debt reduction. A unanimous vote wasn't reached, but the BBC's Andrew Walker says investors already had limited expectations.
Posted In: eurobond, Europe debt crisis, bonds, david cameron

Do multinational summits actually work?

Some economists say today's summit will be remembered as a successful moment -- when eurozone countries met and got their act together. Katharina Gnath is an associate fellow at the German Council on Foreign Relations and has studied G8 and G20 summits.
Posted In: summit, Europe debt crisis, European Union

Mid-day Extra: What sets Brussels apart

Brussels isn't the first city people may think of in Europe, but it is home to both the United Nations and the European Commission. Today, European leaders came to a tentative deal there to save the EU.
Posted In: Belgium, Brussels

Massive protest planned in Russia

The biggest anti-Kremlin demonstration in recent Russian history is planned for tomorrow. It follows smaller protests all this week, after Russian elections delivered a victory to Russian Prime Minister Vladimir Putin's ruling political party
Posted In: Russia, protests

Will a balanced budget requirement come to the U.S.?

As news from Europe points to greater fiscal scrutiny for countries in the EU, questions are raised as to whether a balanced budget amendment here at home could finally pass.
Posted In: Washington D.C., federal budget

Senate Republicans block Cordray nomination to CFPB

U.S. Senate Republicans blocked former Ohio attorney general Richard Cordray's appointment as director of the CFPB. The new bureau is a centerpiece in the Dodd-Frank financial reform law.
Posted In: Richard Cordray, CFPB, Consumer Financial Protection Bureau

United Nations climate summit wraps up

With a low bar set, there is hope that attendees of the summit can at least agree to make a plan to stop climate change
Posted In: United Nations, climate change

Britain refuses to join in European treaty changes

An agreement among almost all of the European Union members was made in Brussels today, but Britain has decided to stay out of the plan, and insists that official EU institutions do as well.
Posted In: Europe debt crisis, david cameron, fiscal union, EU

Ex-Bank of England member: Central bank action an ominous sign

Markets breathed a sigh of relief last week as central banks around the world agreed to joint action to fight the European debt crisis. But according to someone on the front lines in 2008, this could mean things are worse than we know.
Posted In: European Central Bank, Bank of England, Europe debt crisis

How China is feeling the euro debt crisis

The crisis in Europe has hurt worldwide demand for goods, and workers in China are protesting against the lost wages that come with decreased output
Posted In: China, Europe debt crisis, protests, manufacturing

UN climate summit to conclude in South Africa

Delegates are expected to stay up late into the night at the UN climate summit, and rumors are swirling that baby steps are being taken towards a legally-binding climate change deal by 2015.
Posted In: climate, United Nations, climate change

Most euro leaders agree on plan for fiscal austerity

Britain and three other countries are out of the picture, but those remaining believe the new treaty will mean much more balanced budgets on the continent in the future.
Posted In: Europe debt crisis, fiscal union

Music from this show

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Be Easy
Sharon Jones & The Dap-Kings
Seventeen Years
Ratatat
Something About Us
Daft Punk