ECONOMY & MARKETS

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Nikkei Tops 10,000, Retreats

Japan's Nikkei average breached 10,000 for the third straight session before trimming gains to 0.9 percent Tuesday, lifted by defensive buying as investors looked for signs of further easing from the Bank of Japan.

Gas Price Rise Spurs Highest-Ever Fuel Economy Average Of Sold Vehicles

Ford Fusion
In an auto industry placing increased emphasis on fuel economy in its vehicles, Ford Motor Co. serves as the poster child. The average fuel economy of Ford's sold passenger vehicles and trucks jumped by an average of 4.9 miles per gallon in February from the year-ago period. Unsurprising in those results is the credit due to the Ford Fusion and Focus, on which the company has placed an emphasis on greater fuel economy.
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AOL chairman and Chief Executive Officer Tim Armstrong speaks at the Reuters Global Media Summit in New York

AOL to Cut 40 Jobs: Report

AOL is set to make an announcement of firing 40 employees, which will include the team working on the AOL Instant Messenger Service, according to a report in Bloomberg.
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Asian Shares Dip On Concerns About China

Asian shares fell Monday as investors paused to assess the effect of strong U.S. jobs data, which scaled back expectations for more easing ahead of this week's Federal Reserve meeting, while concerns over China's slowdown also weighed on sentiment.
A shopper walks at the Dragonmart mall in Dubai, February 26, 2012.

China's Trade Balance Swings To Large Deficit From Small Surplus

In a stunning move, China's trade balance fell to a deficit of $31.5 billion in February from a surplus of $6.5 billion in January, according to data in multiple media reports on Saturday -- and the country's trade deficit may be its largest in the 21st century.

What The 2011 Disaster Did To Japan's Economy

After the devastating 3/11 earthquake, tsunami, and nuclear catastrophe, the reconstruction efforts to get under way in earnest this year will boost Japan’s gross domestic product, but this does not mean the country will be any better off, according to a report by research consultancy Capital Economics.
Applicants Fill Out Forms During a Job Fair at the Southeast LA-Crenshaw WorkSource Center in Los Angeles

Weekly US Economic Snapshot: How Are We Doing?

The economic picture got considerably messier this week, as positive data on job creation battled with gasoline-price-fueled inflation concerns in economists', policymakers' and consumers' minds. Joyous declarations that the economy is finally getting better have turned into more studious critiques of how the incipient recovery is actually affecting poor, working-class and middle-class people.
Greece

Greek Bond Deal Technically Default, Triggering CDS Payouts: ISDA

The International Swaps and Derivatives Association decided Friday that Greece’s debt swap was a restructuring credit event. Its decision triggers payouts on almost $3.2 billion of credit default swaps -- insurance-like contracts aimed at protecting creditors from loss.
Iron and Steel Industry in China

China, India See Banks As Key To Economic Revival

Leaders of China and India, two of the world's biggest economies, are responding to a decline in their nation's blistering rates of growth by focusing on virtually identical ways to stimulate bank lending and regain financial momentum.
OPEC

OPEC Pumps Record Volumes Despite Iran Slide

Europe's debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday, adding it was still pumping above its target despite a slide in Iranian production.

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