Coca-cola Q4 drops 71%; German manufacturing drops 2.9%
US stocks were saddled with modest losses as investors awaited the outcome of discussions on a bailout package for Greece which is working on the final draft of an agreement with its creditors, on budget cuts needed for a second aid package. Meanwhile, US Fed Chief Ben Bernanke told Senate budget committee that the job market is still far from healthy and called on lawmakers to cut budget deficits. In Europe, Germany's industrial output unexpectedly plunged by 2.9 per cent in December from a month ago, the steepest fall since January 2009. In corporate earnings, Coca Cola's fourth-quarter net income dropped 71%, better than street estimates.
