BOSTON ( TheStreet) -- The decision on rates by the European Central Bank ahead of the emergency European Union summit leads your quick fix of company, market, economic and investing news for Thursday, Dec. 8.
Thursday's 5 Biggest Stories
Listen, Mario, the ECB rate cut is nice and all. But tell us about more bond purchases, man! MarketWatch Meanwhile, all eyes are on Brussels as the emergency European Union summit on the debt crisis begins. LA Times The outlook for a resolution can't be too positive if European central banks are prepping for a euro breakup. WSJJon Corzine should be scared. If we've learned anything, testifying before Congress ruins everyone. Just ask Lloyd Blankfein and Vikram Pandit. Washington Post Your Mildly Positive News Alert: French banks' capital shortfall shrank from the gaps reported in October. Bloomberg
Quote of the Day
"I simply do not know where the money is ... There were an extraordinary number of transactions during MF Global's last few days," former MF Global CEO Jon Corzine will tell the House Agriculture Committee, according to prepared remarks. WSJ
Costco Wholesale ( COST) is also seeing costs rise. Bloomberg How serious is Apple ( AAPL) about television? The new iMac refresh could include TV functionality. ForbesMcDonald's ( MCD) comp store sales for November crush it around the world. MarketWatch Local banks are on high alert after a letter bomb was found at Deutsche Bank ( DB) in Germany. Fox News
I don't want to alarm you, but the market is testing the same levels it broke through after the Lehman Brothers collapse. Market Anthropology Everyone is so caught up in the euro crisis that the U.K. feels a little left out. After all, they'll sink along with the eurozone countries. NYT Nearly 40,000 full-time jobs in Australia were lost last month as the unemployment rate rose to 5.3%. Canberra Times
Bank of America ( BAC) shares have been on a tear lately. Here's how they could get back to $7. Slope of Hope How the euro debt crisis has created plenty of opportunity in emerging markets stocks. Pragmatic Capitalism It's the most wonderful time of the year ... for small-cap stocks! Stock Traders' Almanac
Odds and Ends
So much for conviction: An Occupy Wall Street protestor now has a job on Wall Street. CNN "Europe," "Occupy," and "Merkozy" lead a completely arbitrary list of top finance terms in 2011. Reformed Broker All of this repeated talk of Europe has my favorite U.K. band on my mind. Your Thursday morning video comes from The Smiths. YouTube-- Written by Robert Holmes in Boston. >To contact the writer of this article, click here: Robert Holmes. >To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet. >To submit a news tip, send an email to: firstname.lastname@example.org.