An earlier version of this story incorrectly stated that Apple holds its shareholder meeting today. The event will not be held until Thursday.
BOSTON (TheStreet) -- Contracting manufacturing activity in China and Europe leads your quick fix of company, market, economic and investing news for Wednesday, Feb. 22.
Wednesday's 5 Biggest Stories
China's manufacturing activity spent a fourth straight month in contraction in February, with new export orders falling hard. [Reuters]
The story is the same in Europe, where eurozone composite PMI contracted unexpectedly in February. [MarketWatch]Obama is set to unveil a new revamped tax program that would lower the effective tax rate for corporations but would kill off other deductions. [WSJ] Regarding the second Greek bailout: ""Unfortunately it doesn't feel like the world has changed a whole lot." [Bloomberg] A U.S. consumer agency says that bank overdraft fees hurt consumers. Don't worry, the banks will find other ways to nickel and dime customers. [Reuters]
Company NewsDell (DELL) blames its bad quarter on hard drive supply issues. [Computer World] Citigroup (C) is staring at a multi-billion dollar hit on its stake in Morgan Stanley Smith Barney. [WSJ] There is a significance to the key reversal in Apple's (AAPL) stock last week. [MarketWatch] Oh, and Thursday is the day Apple shareholders meet for their annual meeting. [Reuters] Johnson & Johnson (JNJ) CEO Weldon has been recalled and pulled off of the shelf. [Chicago Tribune]
Odds and EndsDow 13,000 is either an awesome symbol of hope or completely meaningless, depending on who you ask. [Dealbreaker] Happy Wednesday. You're about halfway through this holiday-shortened week. Here's a song by The xx to start the day off. [YouTube] -- Written by Robert Holmes in Boston.
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