More:
Selling Silly iPhone Apps in a Recession

Credit:
Economy Contracts 6.2%

Chevron Corp. is suing the city of Richmond over a business-license fee that voters passed last fall. In its suit filed Thursday in Contra Costa County Superior Court, Chevron claims that voter-approved Measure T violates state laws that ban taxes on business…

Read more:
Chevron sues Richmond over business-license fee

The economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession. The Commerce Department report released Friday…

Original post:
Economy shrinks even more than expected in 4Q

View original here:
Bleak Outlook for Hong Kong Property

See more here:
Microsoft Has Hope in Asian Piracy Fight

NEW YORK (Reuters) – Stock index futures fell on Friday, weighed by a drop in financial shares following news that the U.S. government is taking a large common equity stake in embattled lender Citigroup .

Read more here:
Stock futures slide as Citi deal fuels fear and banks drop

WASHINGTON (Reuters) – The U.S. government committed to holding up to 36 percent of Citigroup’s common shares in a deal to bolster the fallen financial giant’s capital base, and gave most of the bank’s board their marching orders.

Here is the original:
U.S. takes big stake in Citi

Government will pay as much as $25B for as much as a 36 percent ownership of struggling banking giant — ECONOMY SHRINKS

Source:
U.S. agrees to bigger stake to bolster Citigroup

WASHINGTON (Reuters) – The Treasury Department announced on Friday that it will convert a significant share of the preferred stock it holds in struggling bank Citigroup to common stock as long as others also do so.

Excerpted from:
U.S. Treasury says to convert Citi shares to common

LONDON (Reuters) – Part-nationalized Lloyds Banking Group unveiled a 10 billion pound ($14.28 billion) loss for 2008 and said it had not finalized a plan to put billions of pounds of assets into a UK government-backed insurance scheme.

Source:
Lloyds falls to $14 billion loss, in asset plan talks

Wells Fargo & Co.’s board has suspended its bonus policy for Chief Executive John Stumpf and its other top executives, according to a Securities and Exchange Commission filing on Friday. Wells Fargo’s board suspended the policy on Tuesday, retroactive to Jan….

Wells Fargo suspends bonuses for top executives

NEW YORK (Reuters) – Stock index futures turned lower on Friday on news the U.S. government is taking a large common equity stake in embattled lender Citigroup .

More here:
Stock futures drop after Citi’s government deal

Citigroup Inc. said Friday it reached a deal that will give the government an increased stake in the struggling bank. The company also said it recorded a goodwill impairment charge of about $9.6 billion due to deterioration in the financial markets. The…

Source:
Citigroup reaches aid deal with government

Wall Street signaled a flat open today as investors awaited a key government report on how the economy fared in the final three months of 2008. The market was also waiting for news that Citigroup Inc. has reached a deal…

See the original post here:
Wall Street signals flat opening awaiting economic measure