ECONOMY & MARKETS

The average fuel economy of 2012 model year vehicles is 14 percent higher than the same mark of just four years earlier, according to a University of Michigan study, confirming automakers' push to appeal to consumers' desires for more fuel efficient vehicles.

While Valentine's Day has always been sure to disappoint lonely hearts, this year's festivities also may dishearten the retailers used to sweetheart sales during the period, various economic indicators suggest.

U.S. stocks bounced back Monday from Friday's biggest loss of the year as Greece's parliament passed the deeply unpopular austerity bill to secure international rescue funds. The strict financial reform includes a 22 percent cut to minimum wage and 150,000 public-sector job cuts. Rioters protesting the measures set fire to buildings in downtown Athens.

Lower value of the United States government's stock in General Motors Co. and American International Group will dump $21 billion more on the 2013 budget President Barack Obama released on Monday.

Nearly half of cash-back cards, or 48 percent, paid 1 percent cash back from the first dollar of spending, up 44 percent last year, according to a credit card study conducted by Bankrate.com. Fourteen percent of cash-back cards paid more than 1 percent.

President Barack Obama's election-year budget draws a sharp contrast with his Republican opponents by proposing to raise taxes on the rich while directing funds for infrastructure.

The Malkin family, owner of the Empire State Building and other properties in New York and Connecticut, has filed for an initial public offering that will allow the public to own a piece of the storied Art Deco landmark.

The State Bank of India (SBI), the country's biggest lender, reported an unexpected rise in bad loans for the third quarter, taking the shine off healthy growth in loan demand and interest income that helped it post a 15 percent rise in net profit.

Sales at U.S. retailers probably climbed in January as Americans bought more new cars and shoppers took advantage of post-holiday promotions, a sign that the U.S. economy is recovering, economists said before a report this week.

U.S. stock markets may begin the week with gains as stocks in Asia and Europe advanced after Greek parliament approved austerity measures demanded by Eurozone leaders to secure a bailout package and avoid a messy debt default.

The top aftermarket NYSE gainers Friday were: National Bank of Greece, LinkedIn Corp, Dolby Laboratories, Alliance One International and Vmware. The top aftermarket losers were: Cobalt International Energy, Global Cash Access Holdings, Talisman Energy, C.R. Bard and NYSE Euronext.

The top after-market NASDAQ gainers Friday were: Meru Networks, Energy XXI, Idenix Pharmaceuticals, Fortinet and Achillion Pharmaceuticals. The top after-market NASDAQ gainers losers: Neurocrine Biosciences, Smith Micro Software, FriendFinder Networks and Dunkin' Brands Group.

Japan's economy shrank a bigger-than-expected 0.6 percent in October-December, hurt by slowing global growth, Thai floods and a strong yen, casting doubt about expectations that growth will resume this quarter as Europe's debt crisis clouds the outlook.

When they saw the house on El Dorado Drive in this Los Angeles suburb being painted a startling orange and green and giant billboards hung on the outside, Scott and Beth Hostetler's neighbors were initially angry and confused. Some even considered calling the police.

China is half a world away from the 2,300-acre family farm in east-central Iowa where John Weber and his son plant corn and soybeans.

The average price for a gallon of gasoline in the United States rose nearly 12 cents in the past three weeks to about $3.51, due in part to higher prices for North Sea crude oil, according to the nationwide Lundberg Survey.

Despite a mediocre earnings season and signs of an overbought market, Wall Street bulls are likely to remain in control this week.

A few months ago economists were all but certain the U.S. economy would slow sharply at the start of this year, with many warning that recession risks were growing.

A source has told American Banker that the terms of this week's massive national mortgage servicing settlement have not been finalized, and that politics drove Thursday's announcement

According the Indian Health Services, the rate of alcoholism among Native Americans is six times the U.S. average.

Despite a mediocre earnings season and signs of an overbought market, Wall Street bulls are likely to remain in control next week. There are a number of catalysts that have helped the market this year, including a slew of improved economic data and the Federal Reserve's vow to keep interest rates low.

The Greek government told rebellious lawmakers on Saturday to back a deeply unpopular European Union/International Monetary Fund rescue package in parliament or send the nation down an unknown, dangerous path to default and international economic isolation.

America Movil SAB, the Mexican telecommunications firm, plans to make capital expenditures of $8.5 billion to $9 billion in 2012 as part of its investment plan in networks and focus strategy on subscriber growth.

The trustee supervising the liquidation of MF Global Holdings' brokerage has said that there is a shortfall of at least $1.6 billion to pay commodity customers' claims.

According to Dow Jones' World Solar Energy index, solar stocks rallied this month, up 17 percent on indications of rising demand for solar panels, particularly in China, and price stabilization.

Standard & Poor's downgraded the credit ratings of 34 Italian banks after lowering the country's credit just a month earlier.

Investors flocked to the security of safe-haven assets Friday, like U.S. Treasuries and cash dollar holdings, ahead of what is expected to be a volatile weekend in Athens, already rocked by riots and tense government negotiations.

Economically inclined Twitter users flocked to the hashtag #FedValentines on Friday, pairing references to the Federal Reserve with the romantic holiday, which arrives on Tuesday.

After a tough week on Wall St. following a disappointing earnings report, questions are being asked about the daily deal company's longterm strategy