1. Say this about Bank of America chief Brian Moynihan: He certainly knows how to talk the talk. In his letter to shareholders, Moynihan went out of his way to thank U.S. taxpayers for making $45 billion in TARP funds available. He also described how he is working closely with 'policy leaders' on financial reform. Whether he can walk the walk - i.e., turn around BofA's fortunes - is another matter. While the company did repay its TARP loan in December, it is still sitting on billions of dollars of vulnerable residential and commercial mortgage debt - one reason the company spent 8,000 words discussing risk in its annual report.
2. It is the eighth straight year that the metropolis has led Chinese cities in terms of consumer spending.
"While most Chinese brands remain unknown to the outside world, within China they are establishing themselves with ever more sophisticated campaigns," said Rupert Hoogewerf, Hurun Report chairman and chief researcher.