FP roundup 10/29

Economy
Wall Street rallied again Tuesday, and Asian and European markets made moderate gains Wednesday.
The world's oilfields are declining faster than expected, according to a landmark IEA study leaked to the Financial Times.
Some luxury goods are becoming unfashionable.

Americas
A major drug cartel may have had a spy inside the U.S. Embassy in Mexico.
In an annual ritual, Cuba plans to formally protest the U.S. embargo at the United Nations.

Asia
Pakistan has just a few days before its foreign-exchange reserves run out. To make matters worse, a deadly earthquake just hit Baluchistan province.
China signed an oil-pipeline deal with Russia.
Voters in the Maldives decided not to reelect Maumoon Abdul Gayoom, Asia's longest-serving leader.

Middle East and Africa
Rebels in eastern Congo seized the border town of Rutshuru, sending U.N. aid workers scrambling for safety. Time's Alex Perry comments.
A flurry of suicide bombs struck northern Somalia.
Iran is opening a new naval base near the Strait of Hormuz.

Europe
Hungary is getting a $25.1 billion rescue package from the IMF.
Belarus, also hoping for a bailout, says it is ready to liberalize its economy.
British PM Gordon Brown is calling for a global bailout fund.

Today's Agenda
The markets expect a 2:15 p.m. interest-rate cut from the U.S. Federal Reserve's Open Market Committee. China cut its key rate earlier today.
The Czech Republic's prime minister is visiting the White House.
Obama airs his campaign infomercial.