Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.
- President Obama opened negotiations with Republicans over the so called “fiscal cliff” by asking for $1.6 trillion in new revenue over ten years. [Washington Post]
- Workers in Spain, Portugal, Greece and Italy are striking against austerity today. [New York Times]
- Toyota recalled 2.7 million cars worldwide today, its second recall in the last two months. [CNN Money]
- The UK’s central bank warned that the British economy may contract again over the last three months of 2012. [Associated Press]
- California is set to spend billions of dollars on clean energy investments over the next few years. [Reuters]
- Eurozone factory output fell by the most in nearly four years. [CNBC]
- China plans to spend $32 billion on its railroads by Christmas. [Quartz]