Good morning New York The European house of mum and dad: Lisa picks up on a Spiegel article which set out to show that young Europeans in countries hit hardest by the Continent's economic crisis are finding it difficult to move out of their parents" home. In the course of questioning that idea Lisa stumbled upon some unexpected Danish loneliness. Reading the China GDP growth entrails: China's GDP grew 7.8 per cent in 2012; the slowest full-year of growth in 10 years, as the FT points out. Kate took a moment to pick through the viscera. The good news? The Albanese years: Neil provides a final word on Thursday's defenestration of Rio boss Tom Albanense and asks: could BHP Billiton follow Rio with an aluminium write down when it reports half year results next month? However fourth quarter growth was slightly higher than consensus forecasts at 7.9 per cent and ended an almost two-year run of declining quarterly growth numbers. Cameron's EU speech postponed after Algerian gas plant crisis: The UK prime minister cancelled a pivotal speech about Britain's future role in the EU due to grapple with Algerian operation to free dozens of gas plant workers, including several Britons, being held hostage by insurgents. BoJ eyes open-ended asset buying: Japan's government and central bank have agreed to set 2 per cent inflation as a new target next week via an open-ended commitment to asset buying. The central bank will also discuss at its policy review on Monday and Tuesday, scrapping interest it pays on banks" reserves, a move that will nudge money market rates to zero. Glencore and Xstrata agree deal extension: Glencore and Xstrata have extended the deadline for closing their $77bn tie-up for a third time after failing to get regulatory clearance quickly enough. The Swiss commodity trader and London listed miner confirmed on Friday they had put back the "long-stop" date to March 15. Without an extension to the current deadline of January 31 the deal would have collapsed (Financial Times). Intel's profits fall 15%: The world's biggest chipmaker's revenues and margins declined in 2012, as the company suffered from the downturn in its core PC market. Markets: Global stocks were sitting just shy of their best levels in more than four years as optimism about the world's two biggest economies boosted demand for growth-sensitive products, reports the FT's Global Markets truffle hound Jamie Chisholm. The FTSE All-World equity index was up 0.3 per cent to 232 after the Asia-Pacific region rose 1.1 per cent and as the FTSE Eurofirst 300 inched up 0.1 per cent at the open. Another 3 points higher for the All-World and it would be trading at levels not seen since the summer of 2008. US futures suggested Wall Street's S&P 500 would add fractionally to its latest five-year high of 1,481, so that is likely to give the global benchmark another leg up later in the day.