Citigroup (NYSE: C) stated today that it has named Willem Buiter as chief economist, effective January 2010. Buiter is currently Professor of Political Economy at the London School of Economics. Since 2005, he has been a consultant with Goldman Sachs (NYSE: GS) advising clients on a global basis. He "will work across the entire Citi platform as a senior adviser on global economic issues," the company disclosed in a press release. –MarketWatch
Coca-Cola (NYSE: KO), the world’s largest soft-drink maker, plans to more than double bottling plants in China over the coming decade, aiming to triple sales in its third largest market by sales volume. The beverage maker plans to increase the number of retail refrigerators and other cold drink equipment sixfold by 2020 to make its products, including Sprite and Minute Maid, more readily available in the world’s most populous nation, Coca-Cola China President Doug Jackson stated in a presentation to investors. China’s growing economy, which is poised to overtake Japan as the world’s second largest, and its urbanization present an “enormous” opportunity for Coca-Cola, Jackson said. –Bloomberg
Stocks futures were modestly higher as traders continue to assess the fallout from Dubai World’s debt crisis. About 30 minutes before the start of trading, Dow Jones Industrial Average (DJIA) futures were up by about six points. S&P 500 and Nasdaq 100 futures were also higher. Changes in futures do not always accurately predict early market moves after the opening bell. The dollar and Treasuries were lower while oil prices were little changed and gold prices were slightly lower. –The Wall Street Journal
The United Arab Emirates has pledged to stand behind foreign and domestic banks in Dubai, offering additional money while extolling the strength of the Gulf nation’s financial sector as world markets brace for a potential day of reckoning Monday over Dubai’s crushing debt. In a statement Sunday, the UAE’s central bank said it had sent notice to Emirati banks and foreign banks with branches in the country making clear they would have access to "a special additional liquidity facility." –Daily Finance
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