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Monday, February 28, 2011 12:20 AM PST

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Today's Business News: Asia shares up but more emerging market outflows Blackstone to buy Centro U.S. assets for $9.4 billion: source Economists list U.S. budget deficit as No. 1 worry Oil spike may split Fed and ECB China's Wen puts social stability at heart of economy SEC market-abuse chief takes trader-based approach Gov. Christie says trade not a partisan issue Berkshire Hathaway's 4Q net income up 43 percent New Irish leader Enda Kenny often underestimated Court OKs $624M payout to Countrywide investors Crisis-hit Irish PM concedes election wipeout Best Buy, Home Depot find tough times in China Foreclosures helping change color of some suburbs Oil above $99 as Libya's oil industry in chaos State budget crisis looms over governors meeting High Gas Prices Prompt a Renewed Interest in Solar-Powered Cars Europeans Opting for MBAs Closer to Home Asia shares up but more emerging market outflows Sun, 27 Feb 2011 10:38 pm PST Reuters - Asian shares rose on Monday as financial shares clawed back some of last week's losses and higher oil prices buoyed energy stocks, but gains were capped by fears of further outflows from emerging equities to developed markets. Full Story Top Blackstone to buy Centro U.S. assets for $9.4 billion: source Sun, 27 Feb 2011 10:51 pm PST Reuters - Private equity firm Blackstone Group (BX.N) will pay about $9.4 billion for the U.S. shopping mall assets of Australia's debt-laden Centro Properties (CNP.AX) after winning a three-way bidding contest, a source with knowledge of the transaction said on Monday. Full Story Top Economists list U.S. budget deficit as No. 1 worry Sun, 27 Feb 2011 09:20 pm PST Reuters - The massive U.S. budget deficit is the gravest threat facing the economy, topping high unemployment and the risk of inflation or deflation, according to a survey of forecasters released on Monday. Full Story Top Oil spike may split Fed and ECB Sun, 27 Feb 2011 12:05 pm PST Reuters - The Federal Reserve and European Central Bank may go their separate ways if Middle East unrest provokes a sustained, inflationary oil price spike. Full Story Top China's Wen puts social stability at heart of economy Sun, 27 Feb 2011 12:47 am PST Reuters - Fighting inflation is a priority for China and the government must ward off threats to social stability stemming from rapid price increases and pressure to raise the value of the yuan, Premier Wen Jiabao said on Sunday. Full Story Top SEC market-abuse chief takes trader-based approach Fri, 25 Feb 2011 09:34 am PST Reuters - The Securities and Exchange Commission market-abuse unit is using new approaches to in an effort to better identify insider trading and abusive conduct by market professionals. Full Story Top Gov. Christie says trade not a partisan issue Fri, 25 Feb 2011 07:35 pm PST AP - New Jersey Gov. Chris Christie said Friday that trade shouldn't be a partisan issue if America wants to get a leg up in the global economy. Full Story Top Berkshire Hathaway's 4Q net income up 43 percent Sat, 26 Feb 2011 10:21 am PST AP - Warren Buffett's Berkshire Hathaway reported a 43 percent jump in fourth-quarter earnings Saturday largely because of strong performance at its railroad business and a paper gain of $1.4 billion on the company's derivative contracts and investments. Full Story Top New Irish leader Enda Kenny often underestimated Sun, 27 Feb 2011 02:21 pm PST AP - Opposition leader Enda Kenny has already shattered Ireland's 80-year-old political monopoly. Now he faces an even more challenging assignment — rebuilding Ireland's economy, nearly brought to its knees by reckless property speculation and bank lending. Full Story Top Court OKs $624M payout to Countrywide investors Fri, 25 Feb 2011 05:57 pm PST AP - A federal judge on Friday approved a $624 million settlement in a lawsuit brought by several New York public pension funds against fallen mortgage giant Countrywide Financial Corp. Full Story Top Crisis-hit Irish PM concedes election wipeout Sat, 26 Feb 2011 01:16 pm PST AFP - Irish Prime Minister Brian Cowen conceded defeat Saturday in the general election, after his ruling Fianna Fail party was crushed by voters angry over the collapse of the economy and an EU-IMF bailout. Full Story Top Best Buy, Home Depot find tough times in China Fri, 25 Feb 2011 04:02 am PST AP - Home Depot is no longer open for home improvements in Beijing. Best Buy Inc. decided its brand name electronics stores were not best for China. Full Story Top Foreclosures helping change color of some suburbs Sun, 27 Feb 2011 09:02 pm PST AP - Three years ago, Lamar Grace left Detroit for the suburb of Southfield. He got a good deal — a 3,000-square-foot colonial that once was worth $220,000. In foreclosure, he paid $109,000. Full Story Top Oil above $99 as Libya's oil industry in chaos Sun, 27 Feb 2011 11:41 pm PST AP - Oil prices jumped above $99 a barrel Monday in Asia as Libya's violent power struggle continued to disrupt crude output in the OPEC nation. Violent protests in Oman also raised fears political upheaval could impact other crude exporters. Full Story Top State budget crisis looms over governors meeting Fri, 25 Feb 2011 06:05 pm PST AP - Confronting crushing budget woes, many of the nation's governors are calling for painful spending cuts. But beyond that, their approaches are diverging drastically, from union-cramping proposals in Wisconsin and other states to higher taxes in Illinois and elsewhere. Full Story Top High Gas Prices Prompt a Renewed Interest in Solar-Powered Cars Sat, 26 Feb 2011 12:57 pm PST ContributorNetwork - Solar-powered cars may be appearing at a dealership near you in the not so distant future. The vehicles run on the sun's energy and have demonstrated at races held annually in Australia. Reducing America's dependence upon foreign oil and "green" fuel initiatives have prompted renewed interest in the viability of solar powered automobiles. Plug-in electric vehicles coming off the assembly lines can now be powered via solar panels attached to car's roof and the owner's homes. Full Story Top Europeans Opting for MBAs Closer to Home Fri, 25 Feb 2011 05:08 am PST BusinessWeek - Scottish business school student Steven Renwick used to harbor what he called a "vague aspiration" to get his MBA from an American institution such as the Stanford Graduate School of Business. Then he took a closer look at the price tag. The cost of a two-year degree at a top U.S. business school would easily set him back more than $150,000, an investment of time and money he was not comfortable making. Says Renwick: "It seemed like a massive opportunity cost." Full Story Top

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