GLOBAL MARKET HIGHLIGHTS
Bushs Fiscal Vision 12-17-04 (PBS) At an economic conference Wednesday, President Bush pledged to reduce the growing deficit to help boost the dollar abroad. Two economists discuss the president's fiscal plans for the country. 
Dollars and Deficits 12-17-04 (Yahoo) Some economists see the currency's dive as a sign that America's borrowing and spending spree is beginning to compromise its economic future. Consumers -- following the lead of the administration -- are carrying a hefty load of debt with very little savings. The optimists say that as long as the economy continues to grow, all will be well. But a growing chorus of critics warns that there's a price to pay for all those unpaid bills. 
U.S. Economic Data Gives Dollar Relief 12-17-04 (Yahoo) BERLIN - The U.S. dollar rose slightly against the euro Thursday as the U.S. government reported a current account deficit in the third quarter that was a record high — though not as large as had been predicted. 
Split decision on U.S. economy 12-17-04 (Yahoo) Economists assembled in Washington by the White House for a high-profile summit Wednesday maintained forcefully that the American economy is robust and growing. But many experts outside the Bush administration's circle of advisers and allies insist the president is overlooking warning signs that could affect the economy's long-term health. 
Account Deficit Hits Record $164.7B in 3Q 12-17-04 (Yahoo) WASHINGTON - The deficit in the broadest measure of trade climbed to a record high of $164.7 billion in the third quarter of this year, reflecting Americans' hardy demand for imported oil and foreign-made goods. 
Iraq Awards First Post-War Oilfield Contracts 12-17-04 (Yahoo) BAGHDAD (Reuters) - Iraq (news - web sites)'s oil ministry has awarded the country's first post-war oilfield development contracts to Turkish and Canadian firms, an oil official said on Thursday
Almighty dollar not so mighty anymore 12-16-04 (Yahoo) Too many influnces caused by the dollar low...

 LATIN AMERICA
In Sao Paulo, Houses of Rich, Poor Rub Shoulders 12-17-04 (Yahoo) SAO PAULO, Brazil (Reuters) - The gap between rich and poor in Brazil is huge but when it comes to housing, they often live side-by-side. Developers boldly spend millions building high-rise towers and luxury condominiums overlooking shack-filled slums. In the United States or Europe that would a spell doom for a project. Not in Brazil. 
Brazil, Land of Itsy-Bitsy Bikinis, Gets Fatter 12-17-04 (Yahoo) SAO PAULO, Brazil (Reuters) - It may be known as the land of slender supermodels, champion soccer players and itsy-bitsy bikinis, but Brazil is increasingly fattening up like the United States. A government study released on Thursday said 40 percent of Brazilian adults, or about 40 million people, are considered overweight and another 11.1 percent are obese. 
Brazil corruption charges urged 12-17-04 (BBC) More than 90 people in Brazil face possible charges after a two-year state inquiry into money laundering. 
Argentina Turns Polo Fame Into Polo Fortunes 12-17-04 (Yahoo) LOBOS, Argentina (Reuters) - Prince Harry and the Duchess of York aren't the only foreigners helping to turn Argentina's stellar polo scene into a thriving business. 

 RUSSIA
Q&A: The battle for Yukos 12-17-04 (BBC) The long-running battle between the Russian government and leading oil producer Yukos is coming to a head. 
Russian Oil Company Takes Dispute to U.S. Court 12-17-04 (Yahoo) Russian oil company Yukos files suit against the Russian government in U.S. Bankruptcy Court in Houston, Texas, attempting to head off an auction of its main production unit. NPR's Adam Davidson reports. 
Russian oil fight lands in Houston bankruptcy court 12-17-04 (Yahoo) Russian political intrigue has been rattling the international oil business all year, and on Wednesday the Moscow-based brawl between the Kremlin and energy giant Yukos actually tumbled into a Houston bankruptcy court. 
YUKOS Awaits U.S. Ruling on Break-Up Order 12-17-04 (Yahoo) MOSCOW (Reuters) - Embattled Russian oil major YUKOS should hear later Thursday whether a U.S. bankruptcy court will back its last-ditch attempt to halt the sale due Sunday of its main production unit. 
Yukos Wants Judge to Block Auction of Unit 12-17-04 (Yahoo) HOUSTON - The chief financial officer for Russian oil giant Yukos testified Thursday that the company properly filed its request in Houston when it asked a judge to block this weekend's auction of its main production subsidiary in Moscow. 

 OIL PRICES

Alaska Files Protest to Pipeline Price Hike 12-17-04 (Yahoo) ANCHORAGE - Alaska has filed a formal protest of a proposed rate increase by the owners of the trans-Alaska oil pipeline to ship crude oil down the 800-mile line. 
OPEC Sees Lower Oil Demand Growth in 2005 12-17-04 (Yahoo) LONDON (Reuters) - The OPEC (news - web sites) oil cartel on Thursday said it expected a surge in oil demand to slow next year, projecting weaker economic growth in North America and China. 
Oil Falls More Than $1 from 2-Week High 12-17-04 (Yahoo) LONDON (Reuters) - Oil prices fell over a dollar on Thursday, tumbling from a two-week high as traders took profits after dramatic gains on Wednesday driven by renewed fears over fuel supplies for the northern winter.