A Quick Glance at News

v Spain’s banks face a capital shortfall that could climb to 105 billion euros ($135 billion), almost double the estimate the government provided last week, according to Moody’s Investors Service.

v The dollar weakened versus most of its 16 major peers on expectations the Federal Reserve will sustain monetary stimulus. European stock futures fell, after the region’s benchmark gauge rallied the most in three weeks.

v Oil traded near the highest close in a week after a measure of U.S. manufacturing beat economists’ forecasts and before a report forecast to show shrinking fuel supplies in the world’s biggest consumer of crude

v Oil advanced to a one-week high as U.S. manufacturing unexpectedly expanded and Spanish banks’ capital deficit dropped in September from June

v Google Inc. (GOOG) has surpassed Microsoft Corp. (MSFT) to become the world’s second-largest technology company as computing over the Internet reduces demand for software installed on desktop machines

v Asian shares and the euro rose on Tuesday after a surprising expansion in U.S. factory activity helped investors override concerns about weak overall global growth, and some market players said riskier assets should continue to find support.

v The Reserve Bank of Australia cut its main cash rate a quarter point to 3.25 percent on Tuesday, the third cut in six months as the slowdown in China, a high local dollar, soft export prices and benign inflation all argued for easier policy.

v U.S. manufacturing unexpectedly grew last month for the first time since May but euro zone factories suffered their worst quarter since early 2009 and China lost steam, suggesting the global economy faces hurdles as it tries to outrun recession.

v Greece unveiled on Monday a harsher austerity budget for 2013 which aims to pave the way for an international aid crucial to keep the country afloat as its finance minister met global lenders, who still object to some of the measures.

v Spain is ready to request a sovereign bailout as early as next weekend but Germany has signaled that it should hold off, European officials said on Monday. Madrid has announced severe 2013 budget and economic reforms and the result of stress tests on its banks, moves seen to clear the way for such aid.

v The Bank of Japan is expected to keep monetary settings unchanged on Friday even as weakening manufacturing activity in Asia continues to cloud the outlook, preferring to spend some time reviewing the effect of its policy loosening last month.

v For the first time in months, the European Central Bank's main focus at this week's policy meeting will be interest rates and whether they can be reduced to support a recession-bound euro zone economy.

v Samsung Electronics Co. said Apple Inc. (AAPL)’s iPhone 5 infringes its patents, escalating a global fight over mobile devices after winning a court order lifting a ban on U.S. sales of the Galaxy Tab 10.1 tablet computer