Wednesday morning links

TOP STORIES
Overdue Home-Equity Credit Lines Rise Most Since 1987, ABA Says - Bloomberg
Oil Demand Will Grow, Despite Prices, Report Says - NY Times
When the cups are down: 600 Starbucks to close - USA Today
German firm halts bank note sales to Mugabe regime - AP
U.S. auto sales in the ditch in June - LA Times

MARKETS
Opec head sees new oil price rise - BBC
Gold eases as firm dollar fuels profit-taking - Reuters
ECB unveils new gold sales totalling 30 tonnes - AFP

ECONOMY
ADP Says U.S. Companies Decreased Payrolls by 79,000 - Bloomberg
Deepening Cycle of Job Loss Seen Lasting Into ’09 - New York Times
10 reasons to love a recession - MSN Money

HOUSING
Manhattan Second-Quarter Apartment Sales Drop Most Since 1998 - Bloomberg
As Foreclosures Escalate - New York Times
Bush: Housing deal possible with 'less politics' - AP

FED/TREASURY
Paulson Calls for Process to Liquidate Failing Firms - Bloomberg
Lockhart Sees Little Growth Improvement in 2008 - WSJ Real Time Economics
Consumer expectations more dangerous than inflation - Globe & Mail

INTERNATIONAL
ECB's Trichet Sees Risk of `Exploding' Inflation - Bloomberg
Nikkei hits longest losing streak in 43 years - Reuters
Europe Producer-Price Inflation Accelerates to Record - Bloomberg
Nickell Sees U.K. Rate on Hold as Loans Near `Famine' - Bloomberg

INTERESTING
Sparks fly over rate plan by Southern California Edison - LA Times
Obama Got Discount on Home Loan - Washington Post