Business News at 8:00 p.m. The supervisor is Greg Stec (800-845-8450, ext. 1680). For photos, ext. 1900. For graphics and interactives, ext. 7636. Expanded AP content can be obtained from http://www.apexchange.com. For access to AP Exchange and other technical issues, contact customersupport(at)ap.org or call 877-836-9477. If you have questions about transmission of financial market listings, please call 800-3AP-STOX. A selection of top photos can be found at: http://bit.ly/APTopPhotos . All times EST. Editors: The business desk is closing and will reopen Friday at 6 a.m. This is a digest of stories moving overnight. If you have issues overnight please call 212-621-1600. DEVELOPING Tuesday: MARKETS & ECONOMY: MORTGAGES-LATE PAYMENTS, HFR Home loans made during the housing boom are declining as a share of all mortgages gone unpaid. The trend helped bring the national rate of late payments on home loans at the end of 2012 to the lowest level in four years, credit reporting agency TransUnion said Tuesday. By Alex Veiga. Eds: The story may not be published, broadcast or posted online before 12:01 a.m. EST on Tuesday. BUDGET DEFICIT WASHINGTON â¿¿ The Treasury reports on the budget deficit for January. The deficit widened to $292 billion in the first three months of the budget year, which began Oct. 1. But earlier this month, the Congressional Budget Office projected an annual deficit of $845 billion for 2013. If correct, that would mark the first time the deficit had fallen below $1 trillion during the Obama administration. By Martin Crutsinger. AP Photos. Eds: Report due at 2 p.m. EST JOB OPENINGS WASHINGTON â¿¿ The government reports on JOLTS -- the Job Openings and Labor Turnover Survey -- for December. In November, the number of available jobs ticked up to a seasonally adjusted 3.67 million. That left 3.3 people competing for each opening, more than the 2-to-1 ratio typical in a healthy economy. Companies added a modest number of jobs in January, and the government said hiring was much stronger at the end of the year than it first estimated. By Christopher S. Rugaber.
SMALL BUSINESS OPTIMISMNEW YORK â¿¿ Small business owners have started 2013 with low expectations for the economy and their companies. That's the finding of a survey released Tuesday by the National Federation of Independent Business. HFR 730 a.m. TUESDAY FEB. 12. LEW-TREASURY WASHINGTON â¿¿ The to-do list that awaits Jacob Lew, President Barack Obama's choice to be Treasury secretary, is daunting. Bridge disputes in Congress on taxes and spending. Shrink budget deficits. Manage tense economic ties with China. Press Europe to reduce debts while fighting a recession. Defend the U.S. financial overhaul law. Prevent a global currency war. and those are just the obvious challenges. Lew's job isn't quite as perilous as the one that greeted the now-departed Timothy Geithner four years ago. But if the Senate backs Lew's nomination after a committee hearing Wednesday, he will likely have to marshal all his strengths as a budget specialist and perhaps overcome inexperience in some areas to achieve significant success. By Martin Crutsinger. STATE OF UNION-ECONOMY WASHINGTON â¿¿ As President Barack Obama delivers his State of the Union speech Tuesday night, he presides over an economy much healthier than the one he inherited four years ago. Yet growth remains slow and unemployment high. In early 2009, the U.S. economy was in the midst of a full-blown panic sparked by the collapse of a housing bubble. Companies were slashing jobs. The unemployment rate was surging. Auto sales in January 2009 had reached a 26-year low. Now, companies are hiring modestly but steadily. Employers added an average of 181,000 jobs a month in 2012 and 175,000 in 2011. Still, unemployment remains far higher than the 5 percent to 6 percent that economists regard as normal. By Christopher S. Rugaber and Paul Wiseman. EARNINGS: EARNS-COCA COLA The Coca-Cola Co. reports quarterly financial results. By Candice Choi.
EARNS-MCGRAW-HILLMcGraw-Hill Cos. reports quarterly financial results. â¿¿ EARNS-REYNOLDS â¿¿ Reynolds American Inc. reports quarterly financial results. â¿¿ EARNS-GOODYEAR TIRE â¿¿ Goodyear Tire & Rubber Co. reports quarterly financial results. â¿¿ EARNS-MICHELIN â¿¿ Michelin reports financial results. â¿¿ BRITAIN-EARNS-BARCLAYS â¿¿ Barclays PLC reports quarterly financial results. INTERNATIONAL: â¿¿ EU-FINANCIAL CRISIS â¿¿ EU finance ministers meet to discuss the current financial crisis.