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1. Fed becoming worried about stimulus side effects

Federal Reserve officials are increasingly concerned about the potential risks of the U.S. central bank's asset purchases on financial markets, even if they look set to continue an open-ended stimulus program for now. In a surprise to Wall Street, minutes from the Fed's December policy meeting, published on Thursday, showed a growing reticence about further increases in the central bank's $2.9 trillion balance sheet, which it expanded sharply in response to the financial crisis and recession of 2007-2009.

1.Suppliers hint at changes to MacBook Air -- Digitimes. While it's a given that the MacBook Air is coming up for a redesign, it's a question of degree. The industrial design won't change much, according to a report from the Taiwanese site. One of the first MacBook Air rumors of the season alludes to internal changes but few external tweaks. A fresh report from the not-always-reliable Taipei-based Digitimes claims the "industrial design will not see any major changes" in 2013. Apple introduced the accentuated wedge aesthetic in late 2010, so about a year and a half will have transpired if new MBAs are introduced in the first half of 2013.

Why The Dow Fell Off a Cliff. The Dow Jones Industrial Average tumbled 158 points, or 1.2%, today as the market appeared to face the music that is the fiscal cliff. President Obama met with top legislators, but would not offer Republicans a new plan. Revelations of the impasse sent the Dow diving late in the session. With the House set to reconvene on Sunday, investors will hope for some sort of Hail Mary pass to avert the fiscal cliff by year's end on Monday. Without a bill, income taxes will go up for all Americans starting Jan. 1 and spending cuts will kick in on government programs. The CBOE Volatility Index , Wall Street's volatility measure, or "fear factor," jumped 17% to $22.72.

Crispin Odey suffers £6m pay cut. Crispin Odey, one of the UK’s most successful hedge fund managers, suffered a pay cut of more than a third this year but still took home £9.4m. Income at Odey Asset Management, the £4.1bn fund he founded, dropped by £5m to £40m in the year to April 2012 largely as a result of a £6m drop in performance fees to £2.5m.

LSE strikes a cut price deal for LCH. Clearnet. The London Stock Exchange has agreed to buy 60pc of British clearing house LCH. Clearnet at a reduced €15-a-share (£12.25) as the two sides edge towards a deal that was put into doubt by regulatory changes in Europe.