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Morning briefing: WTO ruling expected in Boeing dispute, U.K. unemployment claims rose unexpectedly

arnold.jpg

California Gov. Arnold Schwarzenegger with Hyundai-Kia Automotive Group chairman Chung Mong-koo (left) and an officer from South Korea's Ministry of Land, Transport and Maritime Affairs.

(Photo Credit: Reuters/Yonhap)

1. Japan intervened in the currency market for the first time in six years, buying dollars to stop the surge of the yen, which is at a 15-year-high and hurting exporters like Sony.

2. The World Trade Organization is expected to issue a preliminary ruling regarding the dispute between the European Union and the United States over multi-billion-dollar U.S. government support for Boeing.

3. The European Commission published draft rules on trading of derivatives and short-selling, saying these financial vehicles operate in "Wild West territory."

4. The annual inflation rate in the 16-country euro zone dipped in August, the European Union's Eurostat statistics agency said Wednesday.

5. Unemployment claims in the U.K. rose unexpectedly in August for the first time since January, data from the Office of National Statistics showed Wednesday. The unemployment rate fell by 0.1 percent to 7.8 percent in the three months until July.

6. German prosecutors confirmed they an investigation into whether Deutsche Telekom's CEO and other company executives pressured government officials in Macedonia to shut competitors out of the market.

7. Greece warned it would likely miss its target for increasing government revenue this year.

8. Foreign investment in China slowed in August, the government reported. It rose 1.4 percent from a year earlier to $7.6 billion but that was down from July's 29.2 percent jump.

9. Speaking in Seoul, California Gov. Arnold Schwarzenegger (R)urged the U.S. Congress to ratify pending free trade agreements with South Korea, Panama and Colombia, saying that they are vital to the Obama administration's goal of doubling exports in the next five years.

10. BP's departing boss Tony Hayward will sit for questions from U.K. lawmakers about the Gulf of Mexico oil spill and whether the country's offshore oil safety rules need to be modified.

By Ariana Eunjung Cha  |  September 15, 2010; 8:28 AM ET
Categories:  *Morning briefing  
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Next: Industrial growth slowed in August

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