National Business

Republic Bancorp founder Bernard Trager dies at 83

Bernard Trager, the longtime chairman and founder of bank holding company Republic Bancorp Inc., has died. He was 83.

Fishermen and federal officials grappled Friday with the increasingly bleak prospect of finding some way for the historic New England industry to avoid collapse amid troubles with the health of Gulf of Maine cod.

Bank failures in Ill, Ind bring 2012 total to 9

Regulators on Friday closed small banks in Illinois and Indiana, increasing to nine the number of U.S. bank failures this year, a slower pace than in 2011, when there were 92 bank closures.

S&P lowers rating on 34 Italian banks

Standard & Poor's Ratings Services on Friday lowered its ratings on 34 Italian banks, citing concerns over Italy's financial vulnerability and expectations for weak profits at the banks.

Greek premier says default would lead to 'chaos'

Greece's future in the eurozone came under renewed threat Friday as popular protests again turned violent and dissent grew among its lawmakers after European leaders demanded deeper spending cuts.

Summary Box: Stocks fall as Greek deal is held up

BAILOUT BLUES: U.S. stocks took their biggest slide so far this year on news that European countries that share the euro with Greece want it to make deeper spending cuts in exchange for bailout money. Stocks had risen just a day before on hopes the bailout was imminent.

How the major stock indexes fared on Friday

Stocks had their worst day of the year Friday after Greece hit a roadblock on its way to a critical bailout. The S&P 500 index had its first down week of the year.

As Facebook IPO nears, the case for dull stocks

Investors thinking of buying a piece of Facebook after it goes public are hoping it will perform like Google, whose stock has risen 500 percent since its debut seven and a half years ago.

A look at economic developments around the globe

A look at economic developments and activity in major stock markets around the world Friday:

Summary Box: 2012 deficit trails previous year

DEFICIT SHRINKS: The federal deficit is running lower through the first four months of the budget year than the previous year. Through January, it totaled $349 billion - $70 billion less than the same period last year.

Setback in Greek deal sends investors into bonds

The latest setback in Greece's efforts to avoid defaulting on its debt sent investors rushing back into U.S. Treasurys Friday.

Summary Box: Commodities fall on Greece debt woes

GREEK WOES: Commodity prices fell broadly as a plan to fix Greece's crippling debt crisis remained far from settled, renewing concerns about global economic growth.

Most commodity prices fall on Greece debt woes

Commodity prices fell broadly Friday after a plan to fix Greece's crippling debt crisis suffered a setback, renewing concerns about global economic growth.

Earnings schedule for week of 2/13/2012

Major companies tentatively scheduled to report quarterly earnings next week:

Summary Box: NYSE Euronext 4th-qtr profit shrinks

DEAL COSTS: NYSE Euronext on Friday said costs related to its collapsed merger with German stock market Deutsche Boerse shrank fourth-quarter net income.

Business events scheduled for the coming week

MONDAY, Feb. 13

Oil prices tumble on European debt concern

Oil prices fell Friday with a critical bailout plan for Greece's economy in limbo, again raising the specter of bank failures and reduced oil petroleum in Europe. Here's how energy contracts traded.

MF Global trustee sees shortfall of $1.6 billion

The trustee overseeing MF Global's liquidation said Friday that the shortfall between the funds under his control and the amount customers of the failed brokerage are expected to claim is at least $1.6 billion.

Euro falls against dollar on Greek default fears

The euro fell sharply against the dollar Friday on fears that Greece won't be able to avoid a default.

Summary Box: Barclays cuts bonuses after '11 fall

BONUSES CUT: Barclays PLC revealed Friday that it is slashing its bonus pool after earnings at its investment banking division fell sharply and dented overall profitability.

First Solar shares plunge on project delay

First Solar is warning that a construction delay threatens to undo its sale of a large solar project planned for Los Angeles County to power producer Exelon Corp.

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