Oil prices climb as Iran threatens EU supply cut (AP)

AP - Oil prices climbed nearly 2 percent Tuesday after Iran again threatened to cut off supplies to Europe.

Coca-Cola beats Street, eyes cost savings (Reuters)

Reuters - Coca-Cola Co reported better-than-expected quarterly results and announced a new cost-savings program that it will use to boost its brands and mitigate higher commodity costs.

Glencore-Xstrata deal meets shareholder opposition (Reuters)

Reuters - At least two top 10 shareholders in miner Xstrata plan to vote against a takeover by commodities trader Glencore, threatening the creation of a powerhouse spanning mining, agriculture and trading.

Wall St edges higher as Greece draws up bailout terms (Reuters)

Reuters - U.S. stocks traded edged higher on Tuesday as investors awaited the outcome of discussions on a bailout package for Greece that would help the country avoid a chaotic default.

Coca-Cola adjusted 4Q results beat Street (AP)

AP - Coca-Cola reported an effervescent fourth quarter Tuesday, as the company sold more of its drinks globally and its earnings beat analyst expectations.

UBS Q4 profit hit by fallout from trading scandal (AP)

AP - Switzerland's biggest bank, UBS AG, saw its profits slide by 76 percent in the fourth quarter, in a further sign that a $2 billion trading scandal last year has dented business at a time of economic weakness in Europe and abroad.

Watchdogs to drag shadow banks into the light (Reuters)

Reuters - Beyond the reach of regulators, and about half the size of the world's banking industry, a thriving breed of "shadow banks" is emerging that could trigger the next chapter in the global financial crisis.

Delaware officials wrestle over mortgage deal (Reuters)

Reuters - Delaware stands to leave up to $40 million in homeowner relief on the table, if it does not join a multi-state mortgage settlement, according to a letter from the state's banking commissioner seen by Reuters on Tuesday.

Greece drafts bailout text for parties as talks inch forward (Reuters)

Reuters - Greece's government is preparing a document with a list of painful reforms needed to clinch a new financing package, a government official said on Tuesday, moving Athens one step closer to a deal needed to avoid a chaotic debt default.

AP Enterprise: Brown bank regulator an insider (AP)

AP - Gov. Jerry Brown's appointee to head the department that oversees banking, financial and consumer regulations in California led a trade association that fought against tighter lending restrictions before the subprime mortgage crisis exploded and was an executive with Washington Mutual when the now-failed bank was among the most aggressive marketers of loans to high-risk borrowers.

Bernanke repeats vow to shield U.S. from Europe fallout (Reuters)

Reuters - Federal Reserve Chairman Ben Bernanke on Tuesday renewed a pledge to prevent Europe's financial crisis from damaging the U.S. economy in testimony before Congress that mirrored remarks he made last week.

Toyota lifts profit forecast as disaster woes fade (AP)

AP - Toyota's quarterly profit slid 13.5 percent on production setbacks caused by last year's tsunami disaster and the flooding in Thailand, but Japan's top automaker raised its annual earnings forecast, saying a recovery is on track.

UBS warns of poor Q1 as investment bank struggles (Reuters)

Reuters - Swiss bank UBS predicted further weakness in investment banking after a restructuring of the business failed to prevent an earnings hit from the euro zone debt crisis and worries about the global economy.

Walmart names ex-Woolworths veteran as new China CEO (Reuters)

Reuters - Wal-Mart Stores Inc has named an industry veteran, but a relative newcomer to China, to run what is a strategically crucial business for the world's biggest retailer as it faces tougher competition in the fastest growing major economy.

The Worthless Junk the 1 Percent Waste Their Money On (ContributorNetwork)

ContributorNetwork - COMMENTARY | Strictly speaking, the 1 percent -- people whose incomes put them above the other 99 percent of us, starting at about $340,000 a year as of 2009, according to IRS data -- don't actually spend much of their money.

Merger fails, but D.Boerse CEO says allies a must (Reuters)

Reuters - D.Boerse CEO eyes new allies as NYSE deal crumbles Deutsche Boerse (DB1Gn.DE) does not believe it can survive in the long term without a new partner despite the collapse of its proposed $7.4 billion merger with NYSE Euronext , its chief executive told a German newspaper.