Some of the more interesting and important items for March 7th :
- Hostilities in Libya Continue as Gas Rises Again to National Average of $3.52 a Gallon, Highest in March Since 1990 – ABC News – The national average is $3.52 per gallon, up from $3.38 per gallon last week and 77 cents high than a year ago. This is the highest price ever posted during the month of March.
- Consumer Credit in U.S. Increased $5.01 Billion in January – Bloomberg – U.S. consumer borrowing increased for a fourth straight month in January, led by a gain in non- revolving loans such as those for automobiles and education, the Federal Reserve reported today.
- BBC News – Greece debt rating cut further by Moody’s – Moody's cited "endemic tax evasion", "very ambitious" austerity plans, and the possibility that the EU may force a debt restructuring on Greece after 2013 as reasons for its decision.
- Drug Firms Face Billions in Losses as Patents End – NYTimes.com – At the end of November, Pfizer stands to lose a $10-billion-a-year revenue stream when the patent on its blockbuster cholesterol drug Lipitor expires and cheaper generics begin to cut into the company’s huge sales.
- Microsoft Is Said to Pay Nokia More Than $1 Billion in Accord – Bloomberg – Microsoft Corp. (MSFT) will pay Nokia Oyj (NOK1V) more than $1 billion to promote and develop Windows-based handsets as part of their smartphone software agreement, according to two people with knowledge of the terms.
- German business lobbies call for tough euro rules | Reuters – BERLIN (Reuters) – Germany's main business lobbies on Sunday called on countries sharing the euro currency to adopt tough rules at an upcoming summit aimed at sorting out Europe's debt crisis.