* MORNING WRAP
December 11th, 2007# TEXAS INSTRUMENTS SEES 4Q EPS 50C-54C; ANALYST EST. 51C
# China Inflation Surges to 11-Year High; Trade Surplus Swells
# Oil Rises on Speculation Fed Cut Will Help U.S. Avoid Recession
# Novartis Plans to Reduce Workforce, Bureaucracy, WSJ Reports
# Xstrata May Open Takeover Talks With Possible Bidders, FT Says
# Fiat May Spin Off Auto Unit, Marchionne Tells Automotive News
# Rio Tinto Applies in U.K. for Deadline on BHP Takeover Proposal
# GBL May Raise Lafarge Stake to as Much as 30%, Director Says
# SWISS RE SAYS BUYBACK LIKELY TO BE COMPLETED AHEAD OF TIME
# WASHINGTON MUTUAL (WM US) down 8.9% after hours in the U.S. cut dividend to
15cts, taking provisions $1.5bln and cuts 6% of workforce