Financial news on March 01, 2008

Business and Financial news
Aloof From Recession

There are plenty of industries that have historically done well in recessions — particularly those that serve basic needs like food, energy and health care. Read more..

By DAN MITCHELL - The New York Times

Buffett’s State of the World: There’s Folly in Wonderland

Warren Buffett’s annual letter to shareholders, which was released Friday, has become something of a business institution, with the hope that he will shed light on his investments. Read more..

By FLOYD NORRIS - The New York Times

Concerns About the Climate That Go Beyond Snow

Rob Katz, chief executive of Vail Resorts, recently discussed global warming; Vail’s focus, environmental and otherwise; and his company’s customers. Read more..

By PATRICIA R. OLSEN - The New York Times

Eclectic Mix to Testify at Hollywood Detective’s Trial

Four people will testify that they paid Anthony Pellicano to wiretap their adversaries illegally and listened as he played back the results, prosecutors say. Read more..

By DAVID M. HALBFINGER - The New York Times

Frugality Can Be Acquired, but It Can’t Be Bought

Consumers, long held up as the saviors of the American economy as it rose, are taking some of the blame for its fall. Read more..

By CAITLIN KELLY - The New York Times

Head of Financial Products Unit Stepping Down at A.I.G.

American International Group said Friday that the head of its financial products unit was stepping down after the insurer reported $11.1 billion in losses on contracts sold to fixed-income investors. Read more..

By BLOOMBERG NEWS - The New York Times

Long Slump May Mean Drug Stocks Are Bargains

Widespread calls by political leaders to overhaul the health care system have hit the stocks, as has consternation over the feeble state of the industry leaders’ pipelines. Read more..

By CONRAD DE AENLLE - The New York Times

Markets Fall on Drumbeat of Grim Reports

The Standard and Poor’s 500-stock index and the Dow Jones industrial average capped their worst four months since 2002. Read more..

By VIKAS BAJAJ and MICHAEL M. GRYNBAUM - The New York Times

U.S.-Europe Team Beats Out Boeing on Big Contract

A $40 billion Air Force contract for aerial refueling tankers is now partly in the hands of a foreign company. Read more..

By LESLIE WAYNE - The New York Times

U.S. Seeks Sanctions Against Lender

Countrywide Home Loans engaged in questionable conduct in a bankruptcy case involving two borrowers, the United States Trustee contended in a lawsuit filed Thursday. Read more..

By GRETCHEN MORGENSON - The New York Times

See what else happened on March 01, 2008