TPG may invest $1 billion in troubled Olympus. (Reuters)
President Obama to ask for a $1.2 trillion increase in the national debt ceiling. (Reuters)
China’s foreign currency reserves drop to $3.18 trillion, a sign that exports have slowed enough to change monetary policy. (Reuters)
Novartis (NYSE: NVS) will cut 2,000 jobs in the U.S. (Reuters)
Apple (NASDAQ: AAPL) stops iPhone sales in China when crowds become unruly. (Reuters)
Several buyers, including Delta (NYSE: DAL) and US Air (NYSE: LCC), may approach American Airlines parent AMR about a buyout. (Reuters)
Yields fall at Italy and Spain debt sales. (Reuters)
Research In Motion (NASDAQ: RIMM) may have retained Goldman Sachs (NYSE: GS) to look at strategic alternatives. (Reuters)
The Fed may force Bank of America (NYSE: BAC) to leave a number of businesses and some areas of the country. (WSJ)
Goldman Sachs approaches federal officials about buying the troubled bond portfolio of AIG (NYSE: AIG). (WSJ)
A strategic review of PepsiCo (NYSE: PEP) by its board likely will not prompt the firing of its CEO, Indra Nooyi. (WSJ)
China sets new rules to make it easier for foreign investors to put capital into the country. (WSJ)
A Wynn Resorts (NASDAQ: WYNN) shareholder files suit about a possible donation the company made to a university in Macau. (WSJ)
Low retail sales raise concerns about the pace of the recovery. (WSJ)
An agency of the U.S. government pressures AMR to keep its pension plans intact. (WSJ)
Eurozone factory output drops in November, based on year-over-year numbers. (WSJ)
The government probes potentially illegal financial activities at Diamond Foods (NASDAQ: DMND). (WSJ)
Several lenders to Sears Holdings’ (NASDAQ: SHLD) suppliers want faster payments to those suppliers. (WSJ)
BMW and Mercedes increase production in the U.S. (WSJ)
Peugeot would like to form a broad alliance with another car company. (WSJ)
International bond investors largely believe a deal on Greek debt will be done, but not on the terms Greece expects. (WSJ)
China may invest some of its foreign reserves in stocks to get better returns. (WSJ)
Corn prices fall on new, higher estimates of U.S. production. (WSJ)
Members of the 2006 Fed did not anticipate the housing collapse. (NYT)
CVS Caremark (NYSE: CVS) pays $5 million for charging too much for some drugs. (NYT)
Target (NYSE: TGT) will set up small Apple stores inside its retail locations. (NYT)
The creditworthiness of U.S. companies fell over the past 30 years, according to S&P. (FT)
Google (NASDAQ: GOOG) and LG discuss a new TV project. (Bloomberg)
Eastman Kodak (NYSE: EK) approaches Citigroup (NYSE: C) for capital it might use as part of a bankruptcy. (Bloomberg)
Douglas A. McIntyre
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