by Laura Conaway

Good morning, and welcome to Wednesday's reading list.

The International Monetary Fund says the global economy is showing signs of recovery. Among the biggest risks now: governments competing with the private sector for loans in a tight credit market. We saw hints of that this week at the Americas Conference, where a World Bank official estimated Latin American nations will need to borrow $400 billion next year.

The U.S. Commerce Department says the economy was shrinking less last quarter than it originally thought. In the second quarter, gross domestic product appears to have been contracting at an annualized rate of 0.7 percent, instead of at 1 percent. GDP shrank at a yearly rate of 6.4 percent in the first quarter.

Nations will spend $100 billion adapting to climate change next year, a new World Bank study suggests.

The latest payrolls report from ADP suggests that U.S. companies cut 254,000 jobs in September. That's down 44,000 from August. The official unemployment number for September is due from the Bureau of Labor Statistics. Early bets have it rising from 9.7 percent to 9.8 percent.

Mega-lender CIT is readying a Hail Mary pass, handing control to its bondholders — if they'll take it.

GM is giving up on selling new cars to Californians in eBay auctions. California dealers suggest the program wasn't a huge hit. A GM spokesperson told the Detroit Free-Press he didn't know how many cars had been sold that way, then added, "We are calling it a success."