Yahoo! (NASDAQ: YHOO) founder and former CEO Jerry Yang leaves the company’s board. (Reuters)
The World Bank sharply cuts global growth forecasts. (Reuters)
Greece and private creditors race to settle on a deal to avoid a financially dangerous default. (Reuters)
Fallout from the Chinese housing bubble may hit GDP. (Reuters)
More Americans use savings to help during what remains a harsh economic climate. (Reuters)
Olympus says the potential of an equity partner would be delayed until new management receives appointments. (Reuters)
Kraft Foods (NYSE: KFT) plans to cut 1,600 people when it breaks into two companies. (Reuters)
Asia-based companies may buy Research In Motion (NASDAQ: RIMM); Samsung states it has no interest. (Reuters)
Calpers plans to sell much of its real estate portfolio. (WSJ)
A Harvard Business School project finds that graduates voice concerns about the tax code and political gridlock. (WSJ)
More companies buy Apple (NASDAQ: AAPL) Macs than in past years. (WSJ)
Wells Fargo (NYSE: WFC) and Citigroup (NYSE: C) report loan growth as they announce earnings. (WSJ)
More Chinese citizens now live in cities rather than rural areas. (WSJ)
Spain plans to cut debt within it major states. (WSJ)
The National Science Board says more R&D jobs have moved to Asia. (WSJ)
The National Automobile Dealers Association says new fuel economy rules would damage sales. (WSJ)
An Abu Dhabi-based fund puts money into struggling UniCredit. (WSJ)
The FDIC proposes bank stress tests. (WSJ)
The United States Conference of Mayors says few cities have added jobs since the recession. (NYT)
Prime Minister Lucas Papademos says many investors in Greek sovereign paper will take large losses. (NYT)
Factory growth in the U.S. beats that among all G7 nations. (FT)
The World Bank says developing nations should prepare for a poor economic environment. (FT)
Bank of America (NYSE: BAC), Barclays (NYSE: BCS), Credit Suisse (NYSE: CS) and Goldman Sachs (NYSE: GS) will all bid for AIG (NYSE: AIG) debt portfolios held by the U.S. government. (FT)
Central banks increase the gold they lend for the first time in a decade. (FT)
Douglas A. McIntyre
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