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Marketplace Morning Report for Friday, December 9, 2011
Dec 9, 2011

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.

Segments From this episode

Markets hoping that EU deal goes through as planned

Dec 9, 2011
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.

UN climate summit to conclude in South Africa

Dec 9, 2011
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.

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

Dec 9, 2011
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.

Most euro leaders agree on plan for fiscal austerity

Dec 9, 2011
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.

United Nations climate summit wraps up

Dec 9, 2011
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

How China is feeling the euro debt crisis

Dec 9, 2011
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

Mid-day Extra: What sets Brussels apart

Dec 9, 2011
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.
Brussels is the home of the European parliament.
Mark Renders/Getty Images

Do multinational summits actually work?

Dec 9, 2011
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.

Wheat prices down 25% this year

Dec 9, 2011
Farmers are hurting as wheat prices drop, but it doesn't necessarily mean the price of bread and cereal for consumers will also fall.

Britain refuses to join in European treaty changes

Dec 9, 2011
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.

Markets had European debt drama 'baked in'

Dec 9, 2011
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.

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

Dec 9, 2011
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.
The European Central Bank is joining with other central banks to stop a credit crunch, but it could be a sign that there is more danger on the horizon.
DANIEL ROLAND/AFP/Getty Images

European summit almost gets the job done

Dec 9, 2011
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.

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

Dec 9, 2011
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.
European Union leaders pose for a family picture during an European Union summit at the EU headquarters on December 9, 2011 in Brussels.
JOHN THYS/AFP/Getty Images

Massive protest planned in Russia

Dec 9, 2011
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

Americans purchase more even as net worth shrinks

Dec 9, 2011
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.

Senate Republicans block Cordray nomination to CFPB

Dec 9, 2011
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.

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.