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Tuesday, March 1, 2011 12:01 AM PST

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Today's Business News: Asia stocks rise and China manufacturing slows Bernanke to tread cautiously before Congress February auto sales seen up but oil risk looms Retail sales seen up in February Consumer spending slows, factories roar A look at economic developments around the globe Summary Box: Metals rise on positive economic data Live Nation's loss for 2010 more than triples EU seeks to bridge divisions over competitivity pact Geithner wants housing overhaul bill in 2 years FDIC calls for big bank restructuring AT&T Retail Stores Will Sell Amazon's Kindle 3G Summary Box: Health Care REIT in $2.4B deal Pakistan hikes fuel prices; inflation likely to rise VanceInfo tops; sees tax break Toyota recalls 145,000 Corolla cars in Brazil Style Q&A Asia stocks rise and China manufacturing slows Mon, 28 Feb 2011 09:58 pm PST Reuters - Asian stocks rose on Tuesday, tracking U.S. shares which gained on optimistic remarks from influential investor Warren Buffett, while Chinese manufacturing growth slowed to a six-month low. Full Story Top Bernanke to tread cautiously before Congress Mon, 28 Feb 2011 09:23 pm PST Reuters - Federal Reserve Chairman Ben Bernanke will likely remain skeptical about the strength of the economic recovery in testimony on Tuesday, despite recent data pointing to improvement, signaling the central bank is unlikely to cut short its $600 billion stimulus plan. Full Story Top February auto sales seen up but oil risk looms Mon, 28 Feb 2011 10:35 pm PST Reuters - U.S. auto sales are expected to show a gain of about 20 percent from the still-depressed levels of a year earlier in February, but the recent rise in oil prices could slow or even derail the industry's recovery, analysts and industry executives say. Full Story Top Retail sales seen up in February Mon, 28 Feb 2011 09:20 pm PST Reuters - February sales numbers that top U.S. chains report later this week will be the first sign of shoppers' ability and willingness to pay more for clothing and household items now that gas prices are rising. Full Story Top Consumer spending slows, factories roar Mon, 28 Feb 2011 02:44 pm PST Reuters - U.S. consumer spending barely edged up in January as households took advantage of tax cuts to rebuild their savings, suggesting spending would offer only a modest lift to the recovery in the first quarter. Full Story Top A look at economic developments around the globe Mon, 28 Feb 2011 11:22 am PST AP - A look at economic developments and activity in major stock markets around the world Monday: Full Story Top Summary Box: Metals rise on positive economic data Mon, 28 Feb 2011 01:19 pm PST AP - RISE IN METALS: Metals used largely for manufacturing rose as new reports offered more signs of an improving U.S. economy. Full Story Top Live Nation's loss for 2010 more than triples Mon, 28 Feb 2011 02:07 pm PST AP - Live Nation Entertainment Inc., the concert promoter that merged with Ticketmaster last year, said Monday that its net loss for 2010 more than tripled as concert attendance fell and ticket sales for other events also declined. Full Story Top EU seeks to bridge divisions over competitivity pact Mon, 28 Feb 2011 11:18 am PST AFP - European Union president Herman Van Rompuy sought Monday to bridge divisions over deepening economic coordination in the eurozone, scaling down a disputed Franco-German plan opposed by several states. Full Story Top Geithner wants housing overhaul bill in 2 years Mon, 28 Feb 2011 06:45 pm PST AP - Treasury Secretary Timothy Geithner is telling Congress that the Obama administration wants Congress to approve legislation overhauling Fannie Mae and Freddie Mac, the nation's troubled housing finance giants, within two years. Full Story Top FDIC calls for big bank restructuring Mon, 28 Feb 2011 10:19 pm PST Reuters - America's big international banks may have to restructure and downsize their operations now, unless they can prove they will be easy to dismantle in another financial crisis, said U.S. regulator Sheila Bair. Full Story Top AT&T Retail Stores Will Sell Amazon's Kindle 3G Mon, 28 Feb 2011 01:58 pm PST NewsFactor - AT&T said Monday that it will sell Amazon.com's Kindle 3G for $189 at more than 2,000 AT&T retail stores across the U.S., beginning March 6. The wireless device already uses AT&T's nationwide network to process e-book downloads and related user activities. Full Story Top Summary Box: Health Care REIT in $2.4B deal Mon, 28 Feb 2011 03:09 pm PST AP - THE DEAL: Health Care REIT Inc. agreed to buy 147 skilled nursing and post-acute care properties owned by Genesis HealthCare Inc. in a deal worth $2.4 billion. The deal gives Health Care REIT post-acute and skilled nursing facilities in metropolitan areas across the Northeast and Mid-Atlantic regions. Full Story Top Pakistan hikes fuel prices; inflation likely to rise Mon, 28 Feb 2011 09:42 pm PST Reuters - Pakistan increased petrol prices by 9.9 percent on Tuesday, reflecting the global rise in oil, the state Oil and Gas Regulatory Authority (OGRA) said, in a move that could create fresh problems for the government. Full Story Top VanceInfo tops; sees tax break Mon, 28 Feb 2011 04:02 pm PST Investor's Business Daily - The Chinese outsourced IT services firm's Q4 EPS increased 38% to 22 cents, a cent better than estimates, on continued growth in the greater China market. Revenue also grew 38% to $59.6 mil, also topping expectations. Gross margin narrowed to 37.4% from 37.7% on rising wage pressure. Operating expenses leapt 52%. VanceInfo Technologies (NYSE:VIT - News) guided Q1 and 2011 EPS down, but a change in Chinese taxes could send yearly EPS above views. Shares rose 2.6% to 33.20. Full Story Top Toyota recalls 145,000 Corolla cars in Brazil Mon, 28 Feb 2011 10:50 pm PST AP - Toyota is recalling 145,000 Corolla cars in Brazil for fuel leaks in the latest in a slew of global quality problems ailing the world's biggest automaker. Full Story Top Style Q&A Mon, 28 Feb 2011 05:08 am PST BusinessWeek - Q: I'm a vegan and don't wear leather. What should I do as far as shoes for a corporate job interview? Full Story Top

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