Mid-day Update

Jon Corzine heads to Congress today to answer for the collapse of brokerage firm MF Global. The European Union is looking to the International Monetary Fund for bailout help, and that could have ripple effects in the U.S. Reporter Sally Herships looks at what other businesses can gain from big-box storse like Costco and Walmart. And the countdown to a big European summit is nearing its end.

With increased competition from online retailers, stores across the country are taking steps to make the holiday shopping experience a bit faster.

President Obama continues his quest to extend payroll tax cuts, and delivered a big speech on the economy yesterday in Kansas. Republican Presidential Candidate Newt Gingrich is ahead in the polls, but far behind in raising funds for his campaign. The fate of the Consumer Financial Protection Bureau remains unknown, and today the FDA decides whether one drug should be sold over-the-counter.

The Rock and Roll Hall of Fame inductees for 2012 were announced today. The Beastie Boys, Red Hot Chili Peppers, and Guns N' Roses made the cut.

The latest threat for Europe comes from Standard & Poor's: a possible downgrade of 15 countries if the debt problems continue. Irish citizens are bracing for the fourth year of austerity. Author Robert Neuwirth says the informal economy could soon make up two-thirds of the world's workforce. Pollution in China could be a benefit for the U.S., and Microsoft sets out to revamp XBox Live.

Italian Prime Minister Mario Monti unveiled a firm austerity plan for his country. In the wake of a tempestuous month for leadership, we take a look at accountability, both in Europe and at American universities. Allan Sloan explains the payroll tax cuts, and reporter David Gura spotlights the increasing wealth gap.

The big monthly jobs numbers come out today. Dan Gorenstein finishes his two part series on unemployment, speaking with employment officials about what citizens can do. As the European debt crisis continues, it could start affecting U.S. exports. The Green Bay Packers are publicly owned, but those shares are really more about sentiment than actual value. And new car share programs in Germany are aimed at younger drivers.