Another this time is different that's not actually different, global industrial production recovery edition: The developed world is collectively showing the kind of sluggish recovery you'd expect in the aftermath of a financial crisis and it's not clear when that will change. Cardiff's post takes a look at how global industrial production in the past few years has differed from its recovery in the three prior global cyclical troughs. The answer: not by much. Portugal's growing discontent: Angela Merkel's visit this week to Portugal seemed very much designed to show that austerity is indeed the answer to the eurozone's woes, and that Greece is something of an outlier, a black sheep. Masa's post argues that the country's smooth progress through the "adjustment programme" is crucial for Merkel's credibility at home and abroad, so signs of its people's growing discontent with the reforms will be a cause of concern to Berlin. Another day, another dollar (thrifty): High-speed trading critics are abuzz this morning as an apparent mini-flash crash took place in shares of Dollar Thrifty Automotive Group. Arash Massoudi's post looks into what might have caused it, and notes that rival Hertz had a similar-ish price move. Goldman's Blankfein in warning over cuts: The financial industry should not go "overboard" in cutting costs in reaction to current market conditions, the chief executive of Goldman Sachs has warned, a day before the bank is poised to announce one of its smallest ever groups of new partners, the FT reports. "Our industry has a long history of letting too many people go at the bottom of the cycle and hiring too many at the top," Lloyd Blankfein told an industry conference in New York on Tuesday. Obama seeks advice to avoid fiscal cliff: Barack Obama promised on the morning after his election victory last week that he would reach out to his opponents and take action on the nation's most pressing needs. But as he heads into a high-profile meeting with business leaders on Wednesday, the view from Washington to Wall Street is that the list of those expected to attend from some of the largest companies in the US tells a slightly different story, reports the FT. The White House invited many of the usual executives to whom it turns for consultation. Not invited were any representatives of the largest Wall Street banks or financial institutions that are big players in the capital markets and are important actors during negotiations concerning the fiscal cliff. Fresh scandal rocks Pentagon: The US national security establishment was rocked by further personal scandal when the Pentagon announced its top Afghanistan commander was under investigation for potentially "inappropriate communication" with one of the women at the centre of the controversy surrounding the former Central Intelligence Agency director, David Petraeus. The Pentagon said on Tuesday it was examining email contacts between General John Allen and Jill Kelley, who does volunteer work at a military base in Tampa, Florida. Ms Kelley's complaints about email harassment by another woman led to Mr Petraeus's downfall, the FT reports. New China leadership takes shape: The curtains were pulled down on the 18th Congress on Wednesday with the election of a new Central Committee, setting the stage for the long-awaited unveiling of its new leaders on Thursday. Xi Jinping, who is expected to succeed Hu Jintao as party general secretary on Thursday and as president in March, led the list of Central Committee members, which included Li Keqiang, the man seen as successor to Premier Wen Jiabao, reports the FT. Japanese PM offers to dissolve Diet: Prime Minister Yoshihiko Noda has offered to dissolve parliament on Friday and call a general election if the main opposition party agrees to action on electoral reform. The embattled leader of the Democratic Party of Japan made the dramatic offer in a debate with Shinzo Abe, leader of the opposition Liberal Democratic party, the FT reports. Gold to top $2,000, says Deutsche's Raymond Key: Central banks" stimulus measures are going to drive the price of the yellow metal above the $2,000/oz mark, said Raymond Key, global head of metals trading at Deutsche Bank, reports Bloomberg. "We'll take out $2,000, we'll go higher," said Key in an interview in Hong Kong while at the London Bullion Market Association's annual conference. "That's on the view that they'll continue to print money," he added. Markets: Moves in some major barometers point to mild risk appetite, with the dollar index dipping 0.1 per cent, US benchmark Treasury yields adding 3 basis points to 1.63 per cent and copper up 0.2 per cent to $3.48 a pound. But the picture in stocks is more confused as the FTSE All-World index is barely changed near two-month lows, the FT's global markets overview writes.