A Quick Glance at News

v The European Central Bank is weighing a plan to cap borrowing costs for struggling euro-zone governments by buying unlimited amounts of bonds, the German news magazine Der Spiegel reported Sunday.

v Europe’s leaders plan a week of intensive shuttle diplomacy to help defuse the continent’s debt crisis, amid dissension on the European Central Bank’s role and how to help Greece.

v The ECB’s governing council may decide at its next meeting in early September to set yield limits on the debt of each country.

v ECB President Mario Draghi said earlier this month the central bank could purchase sovereign debt alongside euro-area bailout funds. While the ECB said that it would undertake bond purchases only if countries applied for similar support from Europe’s rescue fund and accepted strict conditions in return, Italy and Spain have yet to decide whether they’ll request help.

v China’s stocks fell to the lowest level since March 2009 on concern the government will hold off from easing monetary policy after real-estate prices rose in the largest number of cities in 14 months.

v U.K. home sellers cut asking prices by a record for the month of August after the London Olympic Games and an uncertain economic outlook distracted potential buyers, according to Rightmove Plc. (RMV)

v Asian shares inched lower on Monday, taking a break from recent gains when investor risk appetite had risen on hopes that Europe's policymakers will take decisive steps to tackle the euro zone's debt crisis in coming weeks.

v Japan's Nikkei share average inched higher on Monday to hit a three-month closing high for the second session in a row as risk appetite remained robust and a softer yen provided support to recently battered exporters.

v Brent crude futures inched up on Monday to more than $114 a barrel after the United States ran into opposition to its plan for a release of strategic petroleum reserves, while hopes for a revival in North Sea crude output also limited gains.

v Platinum stretched its gains into a third session on Monday as supply worries lingered after violence at a major mine in South Africa, the world's top platinum producing country, while gold was steady amid continued uncertainty over monetary policy.

v Toyota Motor Corp. (7203) and Honda Motor Co. (7267) can thank government aid for helping auto industry sales grow faster in Japan than any major market this year. As state subsidies are about to run out, so may the euphoria.

v J.M. Smucker shares led S&P 500 gainers Friday morning, advancing 5% to $83.18 after the company resumed volume growth for its food and coffee products during the quarter ended July 31.