Bloomberg.com reports that "stocks retreated in Europe and Asia, led by financial companies, as Warren Buffett said 'the party is over' for insurers and investors speculated banks may have more credit-market losses."
The New York Times reports that a "complex system of credit ratings and insurance policies that Wall Street uses to set prices for municipal bonds makes borrowing needlessly expensive for many localities, some officials say."
According to the Financial Times, "Senior U.S. politicians lashed out at the decision to award EADS, the European defence group, a $35 billion contact to supply refuelling tankers to the air force instead of American rival Boeing."
The Institute for Supply Management manufacturing index fell to 48.3 percent in February, the lowest reading since April 2003. The report, which surveys top purchasing managers for their first-hand take on business conditions, is considered one of the best and earliest coincident indicators of the economy.
Jack Trout writes in Forbes that some of the most costly business mistakes can be made in trying to predict the economic future. For example, 30 years ago one business magazine predicted that “with over 50 foreign cars already on sale here, the Japanese auto industry isn't likely to carve out a big slice of the U.S. market."
Politico looks at the various stumbling blocks the McCain campaign has tripped over since he became the de facto Republican nominee. "The senator's general election campaign slowed by messaging miscues and money troubles," the article states.
According to Congressional Quarterly's Poll Tracker, "Gallup's daily tracking poll has shown a slow but steady increase in Barack Obama's lead over Hillary Clinton for five surveys now. The latest, conducted Feb. 28–Mar. 1, has him ahead of Clinton 50 percent to 42 percent with a 3 point margin of error."
In preparation for Tuesday's primaries, senators Hillary Clinton and Barack Obama traded criticisms at separate events in Ohio. Clinton questioned Obama's experience, and Obama derided her judgment in voting to authorize the invasion of Iraq.
In an article titled "The Myth of Objectivity," Newsweek looks at whether Hillary Clinton's joking indictment of the media's fawning over Barack Obama has merit. "Is the mainstream press unbiased? No, but we aren't ideological. What we really thrive on is conflict," the magazine reports.
Hillary Clinton is feeling the pressure to “bow out” if she does not win crucial victories in Ohio and Texas on Tuesday. Governor Bill Richardson of New Mexico said whoever has “a clear lead” after Tuesday should be the nominee, in hopes of mounting a unifying democratic campaign
Abortion is a key issue with young voters. According to an American University online survey, 23 percent of the 128 respondents said that they would not vote for a candidate who disagreed with them on abortion policy.
Russian state-run news agency RIA Novosti reports that Putin's chosen presidential successor, Dmitri Medvedev, won yesterday's elections by a landslide, receiving 70.22 percent of the votes. European election watchdog PACE questions the fairness of the elections, while also saying that the results reflected the "will of the electorate."
Palestinian President Mahmound Abbas of Fatah suspended peace talks with Israel on Sunday, "in the light of the Israeli aggression," Abbas stated. More than 100 Palestinians in Gaza have been killed during Israeli attacks since Wednesday, when the latest surge in violence began.
In a news analysis piece titled "Gaza Pitfalls in Every Path," New York Times writer Helene Cooper assesses the different courses of action open to Secretary of State Condoleezza Rice as she arrives today in the Middle East for peace talks.
The Economist reports on the problems facing new Russian President Dmitry Medvedev. "There is little reason to doubt that many, perhaps most, Russians are satisfied with Mr. Putin's apparently successful eight years in office and willing to accept his choice of Mr. Medvedev. Yet Mr. Medvedev's chances of maintaining this level of satisfaction seem remote," the magazine writes.
Four multi-million dollar homes in Seattle were burned Monday. Authorities believe the fires may have been set by eco-terrorists who took issue with claims that the homes were built in an environmentally friendly manner and believed they would pollute nearby Bear Creek.
The cover story of Sunday's New York Times Magazine looks at the growing practice of single-sex education: "Separating schoolboys from schoolgirls has long been a staple of private and parochial education. But the idea is now gaining traction in American public schools."