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Lagarde also has some warnings about the U.S. fiscal cliff. “We all recognize that political calendars impact the timing of key decisions. But the current uncertainty presents a serious threat for the United States and, as the world’s largest economy, for the global economy.”

Lagarde calls for action on debt crisis, fiscal cliff. IMF chief Christine Lagarde told European policy makers to get their act together and implement their plans to save the euro — including the formation of a banking union, Bloomberg reports. In the euro region, “markets have been buoyed. … Now they want to see coordinated implementation — multiple players playing one game,” Lagarde said in prepared remarks for a speech in Washington today.

New Facebook research draws criticism. Facebook has tapped a service called Datalogix that can tell if users buy products advertised on the social network. Datalogix uses a database of 70 million households to match identifying information such as loyalty cards against information submitted by users to establish Facebook accounts. The two companies have measured 45 campaigns so far, write the FT’s Emily Steel and April Dembosky [registration req'd], and the practice is raising complaints from privacy advocates who say such usage, which automatically opts users into the studies, violates a $9.5 million settlement with the FTC.

Thin display drives iPhone 5 shortfall. Apple’s decision to create a smartphone that boasts a thinner, lighter touch screen contributed to the component shortfall that caused demand to outstrip supply of the iPhone 5 on its debut weekend, Bloomberg’s Adam Satariano and Jun Yang write. Apple had enlisted Sharp, Japan’s largest maker of liquid-crystal displays, to round out its stable of suppliers and lessen its reliance on longer-term partner LG Display. But Sharp is struggling to reduce defects in the new screens, which combine the display and the touch sensor into a single part, and was unable to start shipments until after the iPhone debut.

Google’s share of China’s search market has dwindled but the company says it still makes money selling advertising on its global sites to Chinese customers. Google’s Android mobile phone operating system also is widely used in China.

“This is part of an ongoing effort across Google to bring
greater focus to our portfolio of products,” Meadows said.
“Our goal is to simplify and improve the Google experience for
our users and to devote more resources to high impact
products.”

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