24/7 Wall St.

Italy’s political problems may hurt the chances of the European Central Bank to battle the European Union’s financial problems. (Reuters)

China’s PMI likely fell in February, a possible sign the world’s economy has slowed. (Reuters)

The Tribune Company hires bankers to sell its major dailies. (Reuters)

New Jersey approves online gambling and Atlantic City casinos will be allowed to take bets. (WSJ)

Bernanke says the Fed will buy bonds as long as unemployment stays high. (WSJ)

Builders are building homes that are more expensive to buy than some existing homes, making a two-tiered housing market. (WSJ)

Cablevision Systems Corp. (NYSE: CVC) sues Viacom Inc. (NASDAQ: VIAB) because the entertainment company makes it carry low-rated networks in exchange for access to higher rated ones. (WSJ)

Clearwire Corp. (NASDAQ: CLWR) will take financing from Sprint Nextel Corp. (NYSE: S), which will make a potential buyout of the 4G company by Dish Network Corp. (NASDAQ: DISH) more complex. (WSJ)

Wall St.’s bonus pool reaches $20 billion. (WSJ)

California’s energy infrastructure may weaken as demand challenges supply from traditional sources, wind and solar. (WSJ)

The FAA may allow Boeing Co. (NYSE: BA) to test the 787 in the air to examine problems with its electrical systems. (WSJ)

Taiwan PC maker Asus will increase its assault on the U.S. market. (WSJ)

J.P. Morgan Chase & Co. (NYSE: JPM) will cut 17,000 jobs. (WSJ)

Austerity measures will eliminate a huge number of government jobs. (NYT)

Jim Millstein, who worked in the Treasury Department, has been retained to renegotiate loans of busted LBO Energy Future Holdings. (FT)

China begins to more aggressively regulate its “shadow banks.” (FT)

Nokia Corp. (NYSE: NOK) will try to compete with BlackBerry (NASDAQ: BBRY) now that its assault on Apple Inc. (NASDAQ: AAPL) has failed. (Bloomberg)