All Things Digital: One-Third of the World’s Population Online by the End of 2010. The number of people online has doubled in the last five years to two billion, and will reach one-third of the world’s population by the end of 2010, according to statistics from the International Telecommunications Union. Connection in the developing world is growing at a faster clip, but only 21 percent of people in developing countries will be online, as opposed to 71 percent in developed countries.
Wall Street subway by epicharmus via Flickr
Barron’s: No Chinese Wall of Worry. After an 11% spurt in seven days, Chinese stocks look clear for further gains – and: An Options Play on China’s Leading ETF.Here’s a strategy to profit from a potential rise in the fund’s volatility.
BBC: Cameron unveils armed forces cuts.Harrier jump jets, HMS Ark Royal and planned Nimrod spy planes have been axed in the defence review and 42,000 jobs will go by 2015.
Bloomberg: Stocks, Oil Fall on China Rates, Apple Outlook; Dollar Rallies. Stocks slid, dragging the MSCI World Index down from a six-month high, while the dollar rallied and commodities retreated as China raised interest rates and Apple Inc. ’s profit forecast missed analyst estimates.
BusinessWeek: Tech Fund Managers Focus on Cloud. Managers of Bloomberg’s top-ranked technology funds talk about what they see ahead.
CNBC: ‘Buyers Strike’ May Not Hold Back Market From More Gains.The second half of 2010 has proven something about Wall Street: Stocks not only don’t need good news to rally, they don’t need many real investors, either.
Forbes: Google Exec Fires Back At Steve Jobs. Android creator Andy Rubin responded on Twitter to criticisms Jobs made about Google’s smart phone strategy.
MarketWatch: Crude closes below $80. Oil closes down 4.3%, posting its worst one-day drop in eight months, ahead of a key report.
Reuters: Morgan leads big earnings day. Several well-known companies, including Morgan Stanley, Wells Fargo, and eBay announce earnings on Wednesday
The Business Insider: Here’s why every trend that was boosting the economy is now turning against it.
The Financial Times: UK and US seek own paths from disaster.
The Guardian: Goldman Sachs cuts bankers’ payouts. Investment bank is battling to improve its reputation but it has been ostracised by some European states.
The New York Times: Many Buildings, but Few People. China’s sizzling economy created a speculative real estate market. Most of the complexes in Ordos, Inner Mongolia, above, are sold but uninhabited.
The Telegraph: Protectionism is ‘dangerous’. Ex-Chancellor Nigel Lawson on cuts, currency wars, and over-regulation.
The Wall Street Journal: Agenda: U.K. Preparing
to Do Less With Less. Iain Martin: Clear away all the rhetoric, and it becomes clear that the U.K.’s defense review amounts to a considerable down sizing of British ambitions.