Financial news on February 14, 2009

Business and Financial news
A Stress Test for the Latest Bailout Plan

Timothy Geithner’s bailout plan includes a so-called stress test to figure out how crippled big banks would be under various economic assumptions. Read more..

By JOE NOCERA - The New York Times

Diversity Is Even More Important in Hard Times

Eric J. Foss, Pepsi Bottling’s chief, says it’s important for a business to look like its customers. Read more..

By WILLIAM J. HOLSTEIN - The New York Times

Europe Slump Deeper Than Expected

Euro-zone counties are hit hard as global businesses cut back on new orders to lighten their inventories. Read more..

By ERIC PFANNER - The New York Times

Ex-BDO Partner Pleads Guilty in Tax Shelter Case

The criminal charges stemmed from a bogus scheme that let wealthy investors evade paying more than $200 million. Read more..

By LYNNLEY BROWNING - The New York Times

Legacy of a Crisis: A Generation Shy of Risk

Young investors caught in the financial downturn still have time on their side. Read more..

By RON LIEBER - The New York Times

Peanut Corporation of America to Liquidate

The peanut processing company at the heart of a national salmonella outbreak is going out of business. Read more..

By ANDREW MARTIN - The New York Times

Pretax Loss Weakens British Banking Merger

The Lloyds Banking Group said that HBOS, the mortgage provider it bought, would report a $12 billion loss for 2008. Read more..

By JULIA WERDIGIER - The New York Times

Rituals of the Rich Meet Realities of the Economy

In Manhattan’s most exclusive enclaves, even the longtime rituals of the wealthy are being tested. Read more..

By GERALDINE FABRIKANT - The New York Times

Stimulus Plan Places New Limits on Wall St. Bonuses

A provision buried in the stimulus bill passed by Congress would impose restrictions on executive bonuses at companies reaping bailout money. Read more..

By EDMUND L. ANDREWS and ERIC DASH - The New York Times

STMicroelectronics Wins Case Against Credit Suisse

Credit Suisse has been ordered to pay more than $400 million to the semiconductor maker to resolve claims of misleading it into buying auction-rate securities. Read more..

By BLOOMBERG NEWS - The New York Times

See what else happened on February 14, 2009