The International Monetary Fund points to the eurozone crisis as the most likely cause of a worldwide slowdown. (Reuters)
The House of Representatives Intelligence Committee will continue to probe Huawei and ZTE over suspicious activity. (Reuters)
Steve Ballmer of Microsoft Corp. (NASDAQ: MSFT) says his company will become more like Apple Inc. (NASDAQ: AAPL). (Reuters)
The United States sues Wells Fargo Co. (NYSE: WFC) for issuing government-backed mortgages that defaulted in large numbers. (WSJ)
Goldman Sachs Group Inc. (NYSE: GS) wants an exemption from Volcker rules about risky trading. (WSJ)
Toyota Motor Corp. (NYSE: TM) recalls 7.34 million cars worldwide. (WSJ)
Angela Merkel says she believes Greece can right its finances and remain in the eurozone. (WSJ)
The IMF says Spain and France will not hit budget targets. (WSJ)
Alcoa Inc.’s (NYSE: AA) results top consensus estimates. (WSJ)
LG Electronics will launch new smartphones with T-Mobile. (WSJ)
Wal-Mart Stores Inc. (NYSE: WMT) offers same-day delivery service for items ordered online to challenge Amazon.com Inc. (NASDAQ: AMZN). (WSJ)
Microsoft cuts Steve Ballmer’s bonus in part because of losses in its online operations. (WSJ)
Procter & Gamble Co. (NYSE: PG) votes to make it easier to add new directors as hedge fund chief William Ackman presses for changes in management. (WSJ)
European banks will sell more real estate to improve balance sheets. (WSJ)
Some economists believe the effects of the fiscal cliff will hit gross domestic product slowly. (NYT)
Total compensation on Wall St. rises 4% last year to $60 billion. (NYT)
The Federal Trade Commission investigates Google Inc. (NASDAQ: GOOG) for collecting patents and using them to challenge the intellectual property of rivals. (NYT)
The IMF warns that more capital has been withdrawn from Europe’s banks. (FT)
The IMF says that European banks may have to sell $4.5 trillion in assets by the end of next year if rescue packages are not in place. (Bloomberg)
Douglas A. McIntyre
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