A Quick Glance at News

v European stock futures fell and commodities declined as Chinese services industries expanded at the weakest pace since at least March 2011 and Spain’s prime minister said a bailout request isn’t imminent. Australia’s dollar weakened to a one-month low and Treasuries gained.

v Oil dropped for a second day after U.S. crude stockpiles climbed for a fourth week and a measure of China’s economy declined, signaling fuel demand may be faltering in the world’s biggest users of the commodity.

v Rachael Wright had culinary training, a bachelor’s degree in nutrition and a dream of putting her education to work. After a couple of years waiting tables and trying to launch her career, Wright finally went where the jobs are: quick-service food.

v China’s non-manufacturing industries expanded at the weakest pace since at least March 2011 as officials struggle to reverse a slowdown in the world’s second- biggest economy.

v Portuguese debt agency IGCP will offer to exchange bonds due next year for securities maturing in three years as it tries to regain access to long-term debt markets.

v Australia’s central bank will reduce its benchmark interest rate to the lowest in the body’s 53-year history, according to credit markets that more accurately picked yesterday’s cut than economists.

v Iron ore, the commodity most leveraged to China’s growth and Australia’s biggest export earner, is heading for the longest bear market in 20 years.

v The dollar firmed while most riskier assets fell on Wednesday as data from China and Australia deepened gloom about the global economic outlook, further reducing risk appetite already hurt by uncertainty about the timing of Spain's request for a bailout.

v Japan's Nikkei average fell to a three-week closing low on Wednesday as investors remained cautious ahead of a serious of key events this week, including policy meetings by the European Central Bank and the Bank of Japan and U.S. jobs data.

v Iran would enrich uranium up to 60 percent purity if negotiations with major powers over its nuclear program fail, an Iranian lawmaker said on Tuesday, in comments that may add to Western alarm about Iranian intentions

v Greece held a new round of talks with foreign lenders to bridge differences over 2 billion euros of disputed austerity cuts on Tuesday, with time running short to clinch a deal before a meeting of euro zone ministers next week.

v Australia's seasonally adjusted trade deficit widened to 2.02 billion Australian dollars ($2.06 billion) in August, from A$1.53 billion in July, according to data released Wednesday by the Australian Bureau of Statistics.

v The Asian Development Bank on Wednesday slashed its forecasts for growth in emerging Asia, highlighting a significant slowdown in the region's giants, China and India, and warning of risks from the euro-zone debt crisis and possible U.S. fiscal tightening.

v J.P. Morgan has cut its earnings estimates for Alcoa Inc. (AA: news, chart, profile) following softer aluminum prices. The broker has lowered third-quarter earnings per share (EPS) estimates to $0.01, from $0.04 previously forecast. The alumina producer is due to report earnings on Oct. 9. In a research note.