Financial news on February 21, 2009

Business and Financial news
‘Buy America’ in Stimulus (but Good Luck With That)

The idea of the clause is to rev up the American economy, but the stimulus bill is full of exceptions, allowing many imports. Read more..

By LOUIS UCHITELLE - The New York Times

China Starts Investing Globally

Long spurned in the international market, China has invested $41 billion in global oil projects this week alone. Read more..

By DAVID BARBOZA - The New York Times

Endowment Director Is on Harvard’s Hot Seat

With its endowment suffering its worst loss in 40 years, Harvard is scrambling to pay its short-term bills. Read more..

By GERALDINE FABRIKANT - The New York Times

Energy Costs Push Up Consumer Prices in January

Prices advanced for the first time since July, but a severe economic downturn was likely to keep inflation muted in the months ahead. Read more..

By JACK HEALY - The New York Times

Italian Utility Buys Out Spanish Partner in Venture

Enel, Italy’s biggest utility, agreed to buy a 25.01 percent stake in Endesa from Acciona. Read more..

By BLOOMBERG NEWS - The New York Times

Kirin to Buy Stake in Philippine Brewer

The Kirin Holdings Company of Japan plans to take a 43 percent stake in the San Miguel Corporation’s Philippine beer unit, San Miguel Brewery. Read more..

By BLOOMBERG NEWS - The New York Times

Madoff Never Made Supposed Investments

A report raises the question of how fake statements were generated in the absence of any genuine trading. Read more..

By DIANA B. HENRIQUES - The New York Times

Markets Close Lower as Fears Over Banks Persist

White House assurances helped stem some losses after fears that the country's largest banks could be nationalized roiled stock markets. Read more..

By JACK HEALY - The New York Times

Mary Jacobus, a Times Co. Executive, Dies at 52

Ms. Jacobus was a New York Times Company executive who had headed The Boston Globe and later led the company’s chain of regional newspapers. Read more..

By RICHARD PÉREZ-PEÑA - The New York Times

Not All Certificates of Deposit Are Plain Vanilla — or Safe

A scandal involving securities that were called C.D.’s suggests that even these conservative investments warrant a close look. Read more..

By RON LIEBER - The New York Times

See what else happened on February 21, 2009