Technology Helps Small Businesses Restore Competitiveness to U.S. Economy – Smallbiz Technology

A new report from the Center for Public Policy Innovation shows how small and medium-sized companies can help grow the economy through competition. The report finds that even as America works through fiscal challenges, small businesses are using technology to better compete with large corporations. Cloud services, for example, allow small businesses to go after larger projects. The report also highlights the importance of small businesses in economic growth and explores ways to foster innovation.

Gas Prices: Could Surge at Pump Derail Recovery? – The Christian Science Monitor

Surging fuel prices are looming as a major threat to the financial health of U.S. consumers and the economy. Crude futures jumped to a nine-month high on Monday after Iran said it had halted some oil shipments, spurring a quick jump in prices at gas stations. Drivers started off this week paying $3.565 per gallon of regular gas, up more than 5% in the last month. The price surge has hit California particularly hard with statewide average pump price for regular gas crossing over the $4 mark this past weekend, nearly 9% higher than a month ago.

Mardi Gras Helps Fatten New Orleans Businesses – USA Today

Mardi Gras season attracts hundreds of thousands of visitors to New Orleans each year with an estimated direct economic impact of $144 million, according to a recent study conducted by Tulane University. Some studies estimate the economic impact at more than $500 million, but there’s no way to tell for sure since the city doesn’t sell tickets for the parties and parades. More than 100 parades roll through the streets of New Orleans in the weeks leading up to Fat Tuesday. Each rider can spend as much as $2,000 to $3,000 in fees, costumes, and throws, while thousands more are spent on cakes, grand balls, and parties.

U.S. and Mexico Announce Accord to Boost Offshore Oil, Gas Exploration – The Hill

Secretary of the Interior Ken Salazar announced that an agreement was reached Monday between the United States and Mexico to allow drilling for oil and natural gas along the border between the two countries. The interior department’s Bureau of Ocean Energy Management estimated that there are 172 million barrels of oil along the 1.5 million acres that will be opened up for drilling.

Is China's Next CEO Good for Business? – The Wall Street Journal

Chinese Vice President Xi Jinping, who is expected to become the next head of the Communist Party in China, visited the United States last week, telling American company leaders that U.S.-China relations are at a "new historical starting point." Xi's trip was focused on strengthening relationships with the U.S. government and private sector. While Xi's plans for China are not yet clear, the country's new five-year plan holds subsidies for Chinese industry, which could hurt U.S. business competitiveness.

Detroit Is Finally Closing The Car Quality Gap With Japan – Business Insider

Over the past five years, global competition has forced American automakers to improve the quality and reliability of their vehicles. The emphasis on quality means less problems with cars and puts the consumer in the driver’s seat with more buying options. Cars are so close on reliability that automakers are now trying to set themselves apart with cutting-edge exterior designs and luxury features. In 2006, Detroit automakers decided to shift their focus away from trucks and SUVs and began competing more heavily in the car market against Japanese manufacturers resulting in increased competition and a smaller quality gap with brands from other countries.

Fed Writes Sweeping Rules From Behind Closed Doors – The Wall Street Journal

The Fed has taken on a much larger regulatory role than at any other time in history, holding 47 separate votes on financial regulations since July 2010. These changes are happening behind closed doors, despite the push for transparency in its interest-rate policies and emergency-lending programs earlier this year. Fed Chairman Ben Bernanke and the Fed’s four other governors have held two public meetings, emailing the remaining 45 votes to the central bank’s secretary. This approach to writing financial regulations is starkly different from the 1980s and 1990s, when it held up to 31 public meetings a year.

In other news…

Overall Economic Growth in Developed Nations Slows – Los Angeles Times

10 Thinkers That Executives Actually Listen To – Business Insider

America's Blue Collar Nostalgia Masks Future Challenges – Businessweek

Eurozone Approves New $173B Bailout for Greece – CNN

Small Business: Low Hanging Fruit for Better Margins – Forbes

Win Every Sale with Visual Thinking – Inc.

As Job Market Mends, Dropouts Fall Behind – The Wall Street Journal

Starbucks’s Schultz to Expand Jobs Fund After Raising $2 Million – Businessweek

Craft Brewer has 50 Million Reasons to 'Like' Facebook Fans – USA Today