It's the economy (Tuesday, July 27, 2010)

Small business owners are happiest in parts of BC, Intervention staved off a 2nd depression and China knows its limitations, some of the items of interest in our financial reviews for Tuesday.

Globe and Mail-- European banks get boost as fears over stress tests ease
Globe and Mail-- BP plans asset sale of up to $30-billion
Globe and Mail-- Selling the high life in hard times
National Post-- Many seniors losing out on benefits
National Post-- GM says goodbye to Windsor
National Post-- Oil sands emissions dwarfed by coal
Vancouver Sun-- Metro Vancouver, Kelowna small business owners happiest in Canada
Vancouver Sun-- B.C. adopts new limits for greenhouse-gas emissions with new ‘cap and trade’ system
New York Times-- BP’s Blueprint for Emerging From Crisis
New York Times-- In Study, 2 Economists Say Intervention Helped Avert a 2nd Depression
New York Times-- The Case for $320,000 Kindergarten Teachers
USA Today-- New BP CEO Robert Dudley takes on huge challenges
USA Today-- Companies hold record $837B in cash, yet won't hire workers
Guardian UK online-- Tony Hayward's parting shot: 'I'm too busy to attend Senate hearing'
Guardian UK online-- Former Northern Rock finance director banned for life and fined £320,000
Guardian UK online-- British retailers enjoy summer boost
The Independent-- Don't forget the real victims of BP's 'Deepwater' disaster
The Independent-- UK Coal separates mining and property businesses
Telegraph UK online-- Jim Rogers predicts a new recession in 2012
Telegraph UK online-- Drip after drip of deflation data
Telegraph UK online-- World splits in two as East tightens while West stays super-loose
Melbourne Herald Sun-- Scrap the NBN and hey presto, another $18b saved
Melbourne Herald Sun-- Virgin banks on NSW for money business
Sydney Daily Telegraph-- BP declares $19bn loss as CEO Tony Hayward steps down
People's Daily-- Expert: China won't take more responsibility than it can handle
People's Daily-- China's economy likely to see slowdown, not double dip: central bank
China Daily-- China promises bigger private role in industry
China Daily-- China to continue proactive fiscal policy in H2
Times of India-- Foxconn shuts India plant after 250 workers hospitalised
Times of India-- Moody's ups India's local currency rating