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Spike in Prius complaints may not be all it seems (AP) AP - Reports of sudden acceleration in the Toyota Prius have spiked across the country. But that doesn't mean there's an epidemic of bad gas pedals in the popular hybrid.   Mexico's Slim becomes 'world's richest' person (AP) AP - Mexican telecom tycoon Carlos Slim is the world's richest person, jumping past Americans Bill Gates and Warren Buffett to become the first person from a developing nation to top the list, according to Forbes magazine. China inflation accelerates in February (AP) AP - China's inflation spiked higher in February, raising the chances that Beijing might need to cool the recovery in the world's third-largest economy.   Senate passes jobless aid, business tax breaks (AP) AP - The Senate voted Wednesday to extend key pieces of last year's economic stimulus measure, including help for the jobless and money to help financially strapped states pay for health care for the poor. US Senate adopts aid for unemployed (AFP) AFP - The US Senate has adopted a 140-billion-dollar raft of measures aimed at shoring up unemployment benefits and setting out tax breaks to spur job creation.   Budget deficit sets record in February (AP) AP - The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year's record for the full year. SEC chief economist leaving (AP) AP - The chief economist of the Securities and Exchange Commission, who is an expert on the financial instruments that figured largely in the 2008 crisis, is leaving his position for the private sector.   Okla.'s jobless rate continues to improve in Jan. (AP) AP - Oklahoma's jobless rate declined to 6.7 percent in January. Hill International 4th-quarter profit rises (AP) AP - Construction consultant Hill International Inc. said Wednesday that its fourth-quarter profit more than doubled as revenue from its project management and construction claims units rose and selling, general and administrative expenses fell.   Britain confronts debt of Greek proportions (AP) AP - Government debt is growing, as is the deficit. The economy is struggling to get out of recession and there is talk of spending cuts or higher taxes. The unions are on edge. And the currency is plummeting. Quinn seeks income tax hike for schools (AP) AP - Calling himself a realist, Gov. Pat Quinn on Wednesday scaled back his proposal to raise income taxes, shifting to a call for an increase of just one percentage point to be used solely for preventing deep cuts to education.   US views Doha framework as 'not satisfactory': lawmaker (AFP) AFP - The United States is unhappy with the current framework of the Doha Round of negotiations to forge a global trade accord, a key lawmaker said Wednesday after talks with WTO chief Pascal Lamy. Wal-Mart spent $1.78 million lobbying in 4Q (AP) AP - Wal-Mart Stores Inc., the world's largest retailer, spent nearly $1.78 million lobbying in the fourth quarter on a wide range of issues from health care reform to organized crime and food safety issues, according to a recent disclosure report.   Home loan demand nudges higher in latest week (Reuters) Reuters - U.S. mortgage applications nudged higher last week, reflecting increased demand for home purchase loans even as interest rates trekked higher, data from an industry group showed on Wednesday. ND oil rig count tops 100 (AP) AP - The number of rigs piercing North Dakota's oil patch has topped 100 for the first time in nearly three decades, the state Department of Mineral Resources said Wednesday.   GM CEO says U.S. will make money on bailout (Reuters) Reuters - General Motors Co will pay back roughly $8 billion in debt to the United States and Canada before June and could go public in a way that would allow taxpayers to make a profit on the bailout, Chief Executive Ed Whitacre said on Wednesday. Real Estate's Link to the Small Business Credit Crunch (BusinessWeek) BusinessWeek - It's no secret that small businesses in the U.S. face difficulties accessing credit. According to a survey of a random sample of 751 small businesses conducted by Gallup at the end of 2009 for the National Federation of Independent Business Research Foundation, 44% of small businesses seeking credit in 2009 received only some or none of the money they sought. This level of credit access compares poorly with mid-2000, when nine of every 10 companies seeking credit received it. While there is broad agreement that a small business credit problem exists, there is less consensus about its causes. ...

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Retailers to shine light on consumer health LONDON (Reuters) - Updates from three of Britain's biggest retailers will shed more light on the strength of consumer spending after a weather-impacted start to 2010 and their fears that the upcoming election could hit confidence.   BP bidding on a package of Devon's assets: sources NEW YORK/LONDON (Reuters) - BP Plc is bidding on a package of Devon Energy Inc assets that the U.S. energy company put up for sale late last year, according to sources familiar with the matter. BA cabin crew talks break down LONDON (Reuters) - Talks between British Airways and labour unions aimed at averting a strike by the airline's cabin crew have broken down, the Trades Union Congress said on Wednesday.   Bank shares rally, oil hits eight-week high NEW YORK (Reuters) - Financial firms led U.S. and European stock markets higher on Wednesday, with U.S. bank shares hitting a 16-month peak, while gyrating crude oil prices ended the day at an eight-week high. Greece says EU could intervene WASHINGTON/BRUSSELS (Reuters) - Greek Prime Minister George Papandreou said on Wednesday the EU stood ready to intervene if speculation against his country's debt continued and euro zone sources said finance ministers would discuss next week a mechanism to support Greece.   AGL open to deals with Shell on gas PERTH (Reuters) - Australia's AGL Energy Ltd. , which shares a major coal seam gas field with Arrow Energy , is open to deals with Royal Dutch Shell if it succeeded in acquiring Arrow, the Australian Financial Review said. Banks face costly refinancing LONDON (Reuters) - Big domestic banks need to raise as much as 750 billion pounds in the next three years to support balance sheets and liquidity as the government prepares to wind down support for the sector, analysts said.   Brown says UK to maintain AAA credit rating LONDON (Reuters) - Prime Minister Gordon Brown said on Wednesday he believed Britain would maintain its coveted top credit rating and announced a pay freeze for senior civil servants and military officers to help tame a record deficit. Burberry accuses TJX of selling fakes NEW YORK (Reuters) - Burberry Group Plc , a maker of luxury apparel, scarves and handbags, has sued TJX Cos , accusing the operator of the off-price TJ Maxx, Marshalls and HomeGoods stores of selling counterfeit goods.   BA, American, Iberia offer EU concessions BRUSSELS (Reuters) - British Airways , American Airlines and Spain's Iberia have offered to cede a number of lucrative trans-atlantic slots in a bid to gain EU antitrust immunity for their alliance.

Japan's economic recovery slower than thought TOKYO (AFP) - Japan's economy grew at a slower rate than previously thought in the fourth quarter of 2009, new data showed Thursday, raising fresh concerns over the country's recovery from a crushing recession.   S.Korea central bank freezes key rate SEOUL (AFP) - South Korea's central bank Thursday froze the key interest rate at a record low 2.0 percent for a 13th month amid uncertainty about the economy at home and abroad. New Zealand central bank holds rates at record low WELLINGTON (AFP) - New Zealand's central bank said Thursday it would hold the official interest rate at a record low 2.5 percent and signalled the first rise was likely around the middle of the year.   US Senate adopts aid for unemployed WASHINGTON (AFP) - The US Senate has adopted a 140-billion-dollar raft of measures aimed at shoring up unemployment benefits and setting out tax breaks to spur job creation. BA, American, Iberia offer EU concessions  BRUSSELS (Reuters) - British Airways , American Airlines and Spain's Iberia have offered to cede a number of lucrative trans-atlantic slots in a bid to gain EU antitrust immunity for their alliance.   British Airways strike looms as last-ditch talks fail LONDON (AFP) - Talks to avert a strike by British Airways cabin crew over working conditions failed on Wednesday, raising the threat of a walkout as early as next week. BA cabin crew talks break down  LONDON (Reuters) - Talks between British Airways and labour unions aimed at averting a strike by the airline's cabin crew have broken down, the Trades Union Congress said on Wednesday.   AGL open to deals with Shell on gas PERTH (Reuters) - Australia's AGL Energy Ltd. , which shares a major coal seam gas field with Arrow Energy , is open to deals with Royal Dutch Shell if it succeeded in acquiring Arrow, the Australian Financial Review said. Burberry accuses TJX of selling fakes  NEW YORK (Reuters) - Burberry Group Plc , a maker of luxury apparel, scarves and handbags, has sued TJX Cos , accusing the operator of the off-price TJ Maxx, Marshalls and HomeGoods stores of selling counterfeit goods.   Mexican Carlos Slim world's richest in new ranking NEW YORK (AFP) - The world's new richest man, Mexican Carlos Slim, and a fresh crop of billionaires in Asia helped lead a comeback for the wealthiest few on the planet in 2010, Forbes magazine said Wednesday.

BA strike talks end without deal Talks between British Airways and Unite aimed at averting strike action by cabin crew break down without agreement.   Winter insurance claims hit £650m Insurers paid out £650m from 335,000 claims made as a result of damage caused by the wintry weather in the UK. Mexican shakes up world rich list Mexican Carlos Slim Huan overtakes Bill Gates as the world's richest man, according to the Forbes 'rich list'.   Smaller losses at Northern Rock Northern Rock says that it made "good progress" in 2009, after reporting a sharp fall in its annual losses. US reports record budget deficit The US government records a budget deficit of $221bn (£147.6bn) in February - the largest monthly deficit in its history.   Banking fraud 'moves to internet' Fraudsters are continuing their switch from traditional card fraud to raiding online bank accounts, research suggests. Pompey axe 85 jobs to cut costs Administrators at Portsmouth FC start to make employees redundant, with 85 people losing their jobs.   Banks face harsher stress tests Further stress-testing of UK banks will take place to ensure they can survive a 'double-dip' recession, regulators say. Warning on packaged bank accounts Bank accounts which charge fees for extra benefits may be being mis-sold, the Financial Services Authority has warned.   Photographer Annie Leibovitz snaps up debt rescue deal Photographer Annie Leibovitz does a deal with Colony Capital to clear huge debts that meant she may have lost her library of famous pictures. Mobile phone that allows boss to snoop Mobile technology that could allow prying bosses to monitor every movement of their staff is developed in Japan.   High flyer The extra ordinary life of the man from the Pru Independent day The Independent could be free under a new owner   Bright ideas Why intellectual property is not a luxury The Latin web Brazil exploits potential as web use spreads   Robert Peston How much stress can the banks take? Wind power? Can you fit a wind turbine in a housing estate?   UK economy 'still growing weakly' The UK economy grew by 0.3% in the December to February period, says the National Institute of Economic and Social Research. EMI names ex-ITV boss as chairman Troubled record company EMI - whose artists include Coldplay - has named former ITV boss Charles Allen as its new chairman.   UK industrial output falls back Industrial production in the UK fell unexpectedly in January, dropping by 0.4% form December, official data has shown. Economic storm not over, says PM Gordon Brown warns of economic storms ahead but vows not to "let you down" as the date of the Budget is announced.   EU rule change 'may cut red tape' Small firms may be exempted from having to draw up and lodge annual accounts, after MEPs approve changes to European Union rules. Airlines offer slots in EU probe British Airways, American Airlines and Iberia offer to give up take off and landing slots in London and New York, say EU watchdogs.   China's exports see big increase China's exports surged 46% in February, figures show, raising hopes of a strong recovery in global trade. Cardiff given tax bill deadline Cardiff City are given eight more weeks by the High Court to settle an outstanding tax bill.   British Gas faces strike ballot British Gas workers are to vote in a strike ballot over allegations of bullying by management, and on changes to working conditions. Budget to be held on 24 March This year's Budget will be held on Wednesday 24 March, Chancellor Alistair Darling confirms.   Top public servants' pay frozen Thousands of top-earning public sector workers, including judges and NHS managers, will have their pay frozen next year. Standard Life enjoys profit boost Insurance firm Standard Life reports better-than-expected profits and unveils plans for a further cost-cutting.   Insurers 'face $7bn Chile bill' The earthquake in Chile may cost the global insurance industry as much as $7bn (£4.7bn), Swiss Re estimates. Oil price fall hits Tullow profit Oil firm Tullow says profits for 2009 fell by 93% but it is optimistic after major new discoveries in Uganda and Ghana.   Cathay Pacific returns to profit Cathay Pacific reports a return to full-year profit as cost cutting and bets on the price of fuel pay off. Payment protection rules delayed The Financial Services Authority is delaying its plans to combat the mis-selling of payment protection insurance.   Npower will cut gas bills by 7% Energy company Npower is to cut domestic gas bills by 7% from 26 March, following price cuts by other suppliers. 'Sharp cut' in pensions deficit A sharp cut has been reported in the deficit of final salary pension schemes in the private sector, figures show.   'Low morale' hits tax authority Low morale and poor leadership is affecting performance at HM Revenue and Customs, a report by MPs says. German exports fall unexpectedly German exports fell unexpectedly in January, with analysts saying that the cold weather that month was to blame.   Obama backs Greece on speculators President Barack Obama has 'responded positively' to calls to clamp down on market speculators, says the Greek PM after talks. UK trade gap widens in January The UK goods trade deficit with the rest of the world widens in January, causing the pound to dip below $1.50.   Aer Lingus to make 670 job cuts Aer Lingus announces plans to lay off 670 staff, including nearly a quarter of its cabin crew, as part of restructuring plans. EU concern over end of tanker bid Brussels says it hopes European aerospace group EADS was not prevented from fairly bidding for a major US defence deal.   BA strike action talks continuing Talks aimed at averting strike action by BA cabin crew are continuing at the TUC, after a deadline was extended. Toyota rejects electronics fears Toyota rejects claims that faulty electronics could be behind its worldwide recall of more than eight million cars.   Car sales see continued recovery UK car sales in February were up by 26.4% compared with the same month last year, industry figures show. China denies World Cup sweatshop A Shanghai company denies it used sweatshop labour to produce World Cup mascots, as Fifa suspends its contract.   £10m to get students into sport Universities are to be given £10m of National Lottery money to encourage more students to get involved in sport. Guidelines for financial journalists

The Softer Side of Hardware Home Depot is testing a warm-and-fuzzy approach to selling hammers, lighting and garage doors that targets female shoppers.   Electronic Arts Buying Game Studios From Elevation Pandemic, BioWare to change ownership, join 'Madden' team. Disney to Sell Mickey-Inspired Fruit, Veggie Products Disney plans to sell a line of products called Disney Garden.   Wikipedia Moving From Florida to San Francisco Online encyclopedia to move cross-country in January to hub of tech world. Gas, Car Sales Fuel Retail Sales Growth Retailers' sales rose 0.6 percent last month and gasoline stations turned in their biggest jump in sales since May.   Oracle Makes $6.66 Billion Bid to Buy BEA Systems The business software maker confirmed today it offered BEA Systems $17 per share, a 25 percent premium over Thursday's closing price of $13.62. AT&T CEO Stan Sigman To Retire AT&T Inc. said on Thursday that the head of its wireless unit, Stan Sigman, was retiring, and it appointed Ralph de la Vega as his successor.   State Treasurer Wants Probe of Countrywide CEO State Treasurer Richard Moore has asked the U.S. Securities and Exchange Commission to investigate the timing of stock sales made by the chief executive of mortgage lender Countrywide Financial Corp.

Obama Defies Pessimists on Economy and Markets A year after U.S stocks hit their post-financial-crisis low, asset prices have been overwhelmingly positive for the President   Senate Passes Bill Extending Jobless Aid The U.S. Senate approved a $138 billion measure that would extend unemployment benefits and provide additional aid to states in lawmakers’ second major effort this year to boost the economy. Obama: Billions in Health Spending Wasted President Barack Obama said he is ordering new efforts to curb waste and fraud in government health programs as he campaigns for an overhaul of the U.S. medical system.   Software Industry Loses Patience with China The Business Software Alliance complains to Washington about Beijing's policies Google Opens Apps Store to Attract Developers Google Inc., owner of the most popular Internet search engine, opened an online store that helps developers of business software sell their own programs.   Toyota, in Crisis, Turns to Discounts Toyota is offering 0% financing to bring back buyers, but David Welch wonders when the company will be able to restore pricing power Long Haul For FCC's Broadband Plan Parts of the National Broadband Plan, due March 16, are already meeting opposition   Archive: Gaga for Google Broadband City residents across the U.S. are campaigning for a slice of the millions Google plans to spend on broadband Web TV A Distant Dream for App Makers Developers who delight in creating software for smartphones say there's little incentive to build apps for TVs, which need too many approvals   China February New Lending Falls, Easing Risk of Asset Bubbles China’s lending fell in February after the government told banks to limit credit growth and raised reserve requirements. Yen Advances After China’s Reports Show Inflation Accelerated The yen rose against the euro and the dollar after Chinese reports showed inflation quickened, fueling concern the government will introduce further measures to temper growth.   Nomura Taps David Puritz of Deutsche Bank as Convertibles Head Nomura Holdings Inc., Japan’s biggest brokerage, hired David Puritz, head of U.S. convertible bond trading at Deutsche Bank AG, to run the business in New York, two people familiar with the situation said. Australian Employers Add Fewest Jobs in Six Months (Update2) Australian employers added the fewest jobs in six months in February, suggesting the central bank has room to slow the pace of future interest-rate increases.   China Inflation, Industrial Production Accelerate (Update1) China’s inflation reached a 16- month high, industrial output climbed and new loans exceeded forecasts, adding to the case for the government to pare back stimulus measures. Shinsei Said to Mull Canceling Merger, Selling Shares (Update1) Shinsei Bank Ltd., the Japanese lender backed by U.S. investor Christopher Flowers, may abandon its merger with Aozora Bank Ltd. and instead raise 75 billion yen ($830 million) selling shares, said a person with direct knowledge of the matter.   Bank of Korea’s Lee Keeps Rate at 2% at Final Meeting (Update1) Bank of Korea Governor Lee Seong Tae kept the benchmark interest rate unchanged at his final meeting as the government pressed for low borrowing costs to spur investment and cut unemployment. Experts Talk Budget Deficit, Wholesale Trade, Housing What Wall Street economists and strategists had to say about key developments on Mar. 10   Giving Women Entrepreneurs a Boost The glass ceiling still exists in old economy companies, but the new economy was supposed to open up new opportunities for women. Progress has been limited so far, but Women Equity for Growth, the first European investment program specialized in the financial and operational support of female-led ... Stock Picks: Chevron, NYSE Euronext, J. Crew, Analogic Wall Street analyst opinions on stocks making headlines in Wednesday's market   Vote for Tech's Best Young Entreprenuers Once again, the tech team at BusinessWeek is preparing our annual list of the best under-30 entrepreneurs. Who would you put on our list of the brightest young stars in the tech industry? Check out our online poll and nominate who you think are the most deserving start-up founders. When IT Security Advice Goes Overboard Sometimes we take computer security too far; just ask the administrators at Lower Merion School District

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