A disorderly default of Greece would cost one trillion euros as contagion would spread sovereign debt problems to Spain and Italy, the Institute of International Finance says. (Reuters)
AIG (NYSE: AIG) raises $6 billion as it sells part of its stake of AIA at a low valuation. (Reuters)
Shareholders sue Tokyo Electric Power for $67 billion. (Reuters)
The approval of biotech generics is slower than expected. (Reuters)
The Fed’s Fisher says there are risks to a Fed buyback of more bonds. (Reuters)
Yahoo! (NASDAQ: YHOO) reportedly will lay off large numbers of people. (Reuters)
Research In Motion (NASDAQ: RIMM) will be forced to drop what it charges carriers for its service as its sales fall. (Reuters)
General Motors (NYSE: GM) will pay 320 million euros for its piece of Peugeot. (Reuters)
China put $17 billion into oil and gas operations in Canada and the U.S. since 2010. (WSJ)
Companies ask Congress to allow them to put less into pensions because of the low rates they pay out now. (WSJ)
Over $550 billion of LBO debt is due to be paid by European-based banks in the next five years. (WSJ)
Germany’s main opposition party raises objections to giving bailout funds to the region. (WSJ)
A quarter of all global mining and metals deals last year involved coal firms. (WSJ)
Core Wireless Licensing, a patent associate of Microsoft (NASDAQ: MSFT), sues Apple (NASDAQ: AAPL) over intellectual property claims. (WSJ)
India bans cotton exports. (WSJ)
Problems with Ford (NYSE: F) touchscreens hurt its reputation with consumers. (NYT)
A Journal Health Affairs study questions the savings from electronic medical records. (NYT)
The Fed says as much as 27% of student loans to 37 million people are past due by at least 30 days. (NYT)
The Teacher Retirement System of Texas buys a $250 million piece of Bridgewater. (NYT)
The Asia division of Goldman Sachs (NYSE: GS) lost money last year. (Bloomberg)
China is the largest source of software applications makers for Facebook. (Bloomberg)
Douglas A. McIntyre
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