Morning in brief: Emerging markets fall, Corzine “stunned” by missing MF Global funds

Fears of slowing growth in emerging markets pushes stocks down to a two-week low, while Toyota cuts its profit forecast for the present business year.

Markets

The MSCI Emerging Markets Index, the benchmark for emerging market stocks, drops to its lowest point in two weeks after China’s industrial production cools and South Korea’s central bank warns of slowing growth, says Bloomberg.

Companies

Toyota Motor Corp slashes its profit forecast for the current business year by more than half as its operations are affected by flooding in Thailand and the stronger yen, according to Reuters.

Jon Corzine, the former chief executive of MF Global, tells a congressional hearing he was “stunned” to learn that customer funds were missing after the broker-dealer filed for bankruptcy in October, the Financial Times reports.

International

China’s National Bureau of Statistics says consumer prices increased by 4.2% year-on-year in November, taking inflation in the country to its slowest pace in 14 months, according to the BBC.

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