Stocks open higher: Not much cheering on the Greek austerity deal, but the Dow is up about 50 points.
Obama proposes tax change: The president wants the wealthiest Americans to be taxed on dividends at their top rate. For the top 2 percent of income-earners, that would be nearly 40 percent. From the NYT:
Mr. Obama once again proposed no change for taxing dividends of Americans with taxable income less than $250,000. Taxpayers in the 10 percent and 15 percent tax brackets - that is, households with up to about $100,000 in income - pay no income taxes on dividends or capital gains. Those in the 25 percent and 28 percent brackets pay a 15 percent rate on income from both dividends and capital gains.
Apple crosses $500 a share: Keep in mind that the stock was trading in the low $300s last June. At last check, shares had fallen below $500.
Apple suppliers to be inspected: An independent group called the Fair Labor Association will examine working conditions in Chinese factories where iPads and iPhones are assembled. This follows a NYT story that reported on accidents and long hours. (AP)
Skepticism about Greek deal: Several additional hurdles are facing Greek officials and already there's talk by one of the party leaders about renegotiating the terms. From AP:
The European Union's Economic Affairs Commissioner Olli Rehn on Monday called the Greek parliament's approval of a further round of budget cuts a "crucial step forward," but Germany insisted it will still take some time before the second bailout is delivered. Germany, which as Europe's biggest economy pays the largest part in bailout deals, said it won't give its final approval for the new aid payments until early March - after it is clear how well a debt relief deal with private bond holders would work and its parliament has voted on the new measures.
Modest expectations for 2012: Economists surveyed by the WSJ expect growth this year of 2.5 percent, up from 1.6 percent in 2011. They also expect U.S. employers to add more than two million jobs over the next 12 months, which would be the best spurt since 2006.
California solar deal in jeopardy: A construction permit from L.A. County is holding up the sale of a 230-megawatt plant in the Antelope Valley that First Solar sold to Exelon Corp. The deal could be nixed if the Energy Department doesn't begin funding a loan to finance the transaction. (WSJ)
Olympic ad sales looking good: NBC has sold more than $900 million worth of advertising for the summer games in London, which already exceeds the $850 million for the 2008 Beijing Summer Games. (NYT)
NBC News moving out of Burbank: the L.A. bureau for "NBC Nightly News," Telemundo, and local affiliates KNBC and KVEA will relocate to a new facility on the Universal lot by late 2013. (LAT)