According to Reuters, the head of the World Bank sees the US moving into recession and a slowdown in Europe but believes that developing countries are not being hurt by the current economic situation.
Reuters writes that the CEO of Merrill Lynch (NYSE: MER) does not think the company will have to raise more money and that its worst risks are behind it.
Bloomberg reports that housing starts probably hit a 17-year low last month and that factory output probably fell.
The Wall Street Journal reports that Alitalia’s board unanimously accepted Air France-KLM’s bid to takeover the troubled airline.
The Associates Press reports that wheat prices have tripled in the last ten months.
Douglas A. McIntyre
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