10 Most Important Business Stories for Today

BOSTON ( TheStreet) -- Slovakia, the European Financial Stability Facility, and the euro debt crisis once again lead your quick fix of company, market, economic and investing news for Wednesday, Oct. 12.

The Big Story

Slovakia does its best impression of the U.S., as its politicians hold Europe captive. Wall Street Journal

U.S. Treasury Secretary Tim Geithner, an expert on all things bailout-related, says the Europeans need to do more to resolve the crisis. He's thinking bazooka. Bloomberg

Today in tall tales: France says it will not tap into the EFSF to recapitalize its banks. Reuters

By the way, unemployment in the U.K. is now at 8.1%, the highest since 1996, with young workers suffering the most. Reuters

Quote of the Day

"I want to go to war with China and make America the most attractive place in the world to do business," GOP presidential hopeful Rick Santorum said about the economic competitiveness of the U.S. compared to China. Bloomberg

Company News

Sony ( SNE) is not having a good day. First, its Bravia flat-screen TVs started to melt, and now its PlayStation Network was hacked again. Bloomberg and Gizmodo

Ahead of earnings, is JPMorgan Chase ( JPM) a safe haven? MarketWatch

The investment case for U.K. hedge fund Man Group is that the company is a takeover target. FT Alphaville

Markets

Stocks and bonds may not look attractive due to volatility, but the real estate market is buzzing. Calculated Risk

Hey, corporations: Don't hold out hope for another tax-repatriation holiday. USA Today

A new plan to deal with the mortgage crisis in the U.S. would use accounting tricks not seen since the S&L crisis in the 1980s. Credit Slips

More potential trouble ahead in China: In order to fund the world's largest high-speed rail network, China's Ministry of Railways has to pay higher interest rates to persuade people to buy its debt. WSJ China Realtime

Investment Strategy

Earnings season has officially begun. Turns out, though, the market stinks for investors during earnings reporting time. CXO Advisory

Stock gurus aren't what they used to be. Also, get off my lawn. MarketWatch

Odds and Ends

Get your Apple ( AAPL) iPhones and iPads ready: The long-awaited iOS 5 drops today. Mac Rumors

The trial of Michael Jackson's personal doctor continues. Here's my favorite vocal performance by the late King of Pop in a song not his own. YouTube

-- Written by Robert Holmes in Boston.

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