- (AAGIY) AIA Group Ltd, Asia's No.3 insurer, reported a 40 % rise in value of new business in the year ended Nov. 30, 2011, helped by strong performance in China and Singapore.
- AIG said Q4 operating profit was 82 cents a share, above Wall Street’s consensus estimate of 63 cents a share.
- A drought threat posed across southern and western Minnesota is the most serious in over a decade, according to University of Minnesota Extension Climatologist Mark Seeley. Climate outlooks currently favor more rain than normal this spring across much of the state, but it might not be enough, Seeley says: “Many areas are so deficient in stored soil moisture they will need 150-200% of normal rainfall during March and April to make up the difference.”
- (NYT) President Obama asked Congress on Wednesday to scrub the corporate tax code of dozens of loopholes and subsidies to reduce the top rate to 28 percent, from 35 percent, while giving preferences to manufacturers that would set their maximum effective rate at 25 percent.
- The National Association of Realtors said existing home sales rose 4.3% in January.
- Singapore's CPI eased to 4.8% in January, down from 5.5% the previous month.
French CPI fell by 0.4% in January thanks to a drop of manufacturing costs, following a rise of 0.4% in December.
- YoY, French inflation rose by 2.3%.
- China discovered 1.37 billion tonnes of oil reserves last year, up 20.6% YoY.
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