The Swiss National Bank, led by Philipp Hildebrand, will leave the three-month Libor target rate at 0.25 percent at its quarterly monetary assessment, according to all 19 economists in a Bloomberg News survey. The central bank announces the decision at 2 p.m. in Zurich.

The SNB has held its main rate close to zero for a year and sold Swiss francs to keep a lid on the currency and counter the threat of deflation. While SNB board member Thomas Jordan said last month that it’s too early to start raising borrowing costs, the central bank has already softened its tone on currency interventions as the economy gathers strength.

“They will continue pointing to the risks to the economy, but the statement will be on a more positive note,” said Fabian Heller, an economist at Credit Suisse Group AG in Zurich, who sees the SNB rate unchanged until “at least” September. “They will maintain their language on the currency” though policy makers may become “more tolerant” of a further appreciation over time, he said.

‘Excessive Appreciation’

The franc was little changed today, at 1.4616 per euro as of 7:39 a.m. in Zurich from 1.4611 yesterday. It strengthened earlier to 1.4606, the highest since before the SNB began selling the currency in March 2009.

The SNB relaxed its language on the franc at its last assessment in December, saying it would act to prevent “any excessive appreciation” of the currency. It had previously pledged to prevent “any appreciation.” Since then, the franc has gained 3.3 percent versus the euro. It has also been boosted as concern over Greece’s ability to tackle its budget deficit drove investors to sell the euro.

While a weaker currency helps bolster Swiss exports by making them more competitive abroad, it can also ease deflation threats by boosting costs of imported goods credit reports free. Swiss consumer prices showed annual gains over the past three months after falling for most of 2009.

The Swiss economy is gathering strength after expanding 0.7 percent in the fourth quarter. Manufacturing growth accelerated in February and leading economic indicators climbed for a 10th month. Nestle SA, the world’s largest food company, on Feb. 19 said sales growth will accelerate this year.

New Outlook

At its last monetary assessment in December, the SNB forecast that the economy will probably expand between 0.5 percent and 1 percent this year. Inflation may average 0.5 percent this year and 0.9 percent in 2011, it said.

While the SNB will raise both the growth and inflation projections, it will “keep the monetary stance unchanged for now,” said Reto Huenerwadel, an economist at UBS AG in Zurich. “This specifically includes the possibility of continued foreign currency interventions.”

The Swiss central bank also said in December that it will stop buying corporate bonds introduced to fight a recession. Jordan said last month that the economy weathered the recession much better than anticipated.

Other central banks are also withdrawing their stimulus measures. The European Central Bank said last week it will continue to tighten the terms of some of its loans to banks and the U.S. Federal Reserve last month raised the discount rate, the rate it charges banks for direct loans.

Switzerland’s recovery “has been more lively than we had expected,” said Dirk Schumacher, an economist at Goldman Sachs Group Inc. in Frankfurt. “While the SNB will likely acknowledge the improved economic outlook, it is still too early for an end to the intervention policy or for an interest-rate hike.”

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"I have two cell phones and a pager," he said. "I have taken partial sick days or just worked from home, but I haven’t had a real one in over six years."

The swine flu epidemic had employers desperately trying to keep sick workers at bay, calling into question companies that didn’t. But the economic meltdown has stepped up pressure on worker bees and bosses alike to produce from home rather than heal in bed, said Dave Couper, a career coach and corporate human resources consultant in Los Angeles.

"There’s an implicit requirement to be at work — partly because of the fear of losing your job if you’re not there," he said. "Before, companies were OK about people being out sick. Now I don’t see that as much. I’ve known people who have e-mailed from their hospital room or been on conference calls where they can hardly speak they’re so sick. The recession has made it worse."

The self-employed — those with access to technology and connectivity anyway — and employees in small companies with fewer prospective subs really feel the squeeze with the sneeze.

Ashleigh Harris gives her San Francisco startup, which makes a new type of training wheel for kid bicycles, high marks for flex time. But with only three full-time positions, herself and the CEO included, calling in sick means work languishes.

"Things need to get done when they need to get done when it comes to building a successful startup," said Harris, the marketing director. "So if that means hopping on a conference call from my cell when I’m in bed, or sending a few key e-mails to hit deadlines, I’m more than happy to do it."

Some workers fear demerit systems for calling in sick — or they’re up against policies that allow no sick pay at all. According to the U.S. Bureau of Labor Statistics, 39 percent of private-sector employees fall into the latter category, including many millions in the service industry.

A survey of U.S. workers conducted in 2008 by the Families and Work Institute, a nonprofit research group that monitors the changing work force, found that 63 percent received at least five paid days off per year for personal illness.

Low earners were much less likely to receive that number, which has been on a downward trend since 1997.

"More than half the work force says their employers call them at times when they’re not supposed to be working, on a pretty regular basis," said Ellen Galinsky, the group’s president and co-founder.

But even those who set their own sick policies feel crunched. Gina Kazimir has an online communications firm in Bel Air, Md., and prides herself on speedy service.

"I don’t take any days off. Even when I had swine flu, I checked e-mail at least once or twice a day — and I was so sick I could barely shower," she said. "Vacations are a challenge. I usually make sure I have some wireless access just in case."

Her availability to clients is expected, she said, "but I’m not sure that it increases productivity. It’s definitely bad for being sick."

Unplugging when sick is also worse for Elie Rosenfeld in Teaneck, N.J. He heads a small niche advertising agency in nearby New York City. Not knowing what’s going on at the office "would drive me nuts," he said, so he managed a few hours of work each day during a recent bout of strep.

"I don’t even tell some clients that I’m away," he said. "I generally don’t expect employees to be connected the way I am, but I like them to check e-mail, etc., to be sure there isn’t something being missed."

The rise of mobile devices and computing systems that allow people to work remotely make it easier to keep the work flowing from sickbeds.

"What it comes down to is a need to refine corporate policy," said Cary Landis, chief executive of Virtual Global, a Morgantown, W.Va., provider of "cloud computing" systems that help employees work at home.

"Managers and HR executives need to take a look at those policies to make sure that we’re getting the most out of it without tying a virtual rope around people who are home sick or on vacation."

Galinsky, of the Families and Work Institute, agreed.

"Work is a marathon. We keep running harder and faster," she said.

"What we know from research is that work is really much more like interval training. You need time for reset and recovery."

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Bank Negara Malaysia increased its overnight policy rate to 2.25 percent from 2 percent, it said in Kuala Lumpur today. The decision was forecast by 13 of 29 economists surveyed by Bloomberg News. The rest expected no change.

The ringgit rose as economists predicted central bank Governor Zeti Akhtar Aziz will continue to raise rates. Asia is leading the global recovery from the worst recession since World War II and Australia, China, India and Vietnam have tightened monetary policy to fight inflation and avert asset bubbles.

“We should expect a few more upward adjustments,” Suhaimi Ilias, chief economist at Maybank Investment Bank Bhd. in Kuala Lumpur, said after the decision. “The central bank has the luxury of time to raise rates gradually. Other central banks will look at domestic conditions before making their moves.”

Indonesia’s central bank left its reference rate at a record-low 6.5 percent today. Australia this week raised its benchmark for the fourth time in five meetings, by 0.25 percentage point to 4 percent.

“The overnight policy rate was reduced to historic lows in early 2009 as a key measure to avert a severe and fundamental economic downturn,” the central bank said in a statement today. “These conditions no longer prevail. The domestic economy has since improved significantly and is now on a path of recovery.”

Ringgit Rises

Malaysia’s ringgit rose to 3.3585 a dollar after the rate decision, the strongest level in six weeks. The currency has gained 1.5 percent this year, making it the best performer after the Thai baht in Asia outside Japan.

“The Monetary Policy Committee decided to adjust the overnight policy rate towards normalizing monetary conditions and preventing the risk of financial imbalances that could undermine the economic recovery process,” the central bank said. “The stance of monetary policy continues to remain accommodative and supportive of economic growth.”

Asian policy makers risk creating asset bubbles and fueling inflation by keeping interest rates “too low for too long” in their attempts to boost domestic demand, Standard & Poor’s said in a report yesterday.

Malaysia’s Zeti has said in the past month that any increase in rates should be viewed as a “normalization” and not a “tightening free credit scores.”

Exports Climb

Southeast Asia’s third-largest economy emerged from its first recession in a decade last quarter, and Prime Minister Najib Razak has said he expects this year’s expansion to beat the official growth forecast of as much as 3 percent.

Malaysia’s exports may climb this year at twice the 3.5 percent pace predicted earlier as the global recovery revives overseas sales of Sime Darby Bhd.’s palm oil and Intel Corp.’s computer chips, International Trade and Industry Minister Mustapa Mohamed said this week.

Before today, the benchmark rate was at its lowest level since it was introduced in April 2004, and had been unchanged since February last year. Malaysia’s borrowing costs are among the lowest in Asia, below the Philippines’ 4 percent benchmark.

The benchmark FTSE Bursa Malaysia KLCI Index fell 0.2 percent at the close today.

Attract Capital

“A rate increase may be good to attract some capital inflows,” Geoffrey Ng, who manages $1.2 billion of assets as chief executive officer at HLG Asset Management Sdn. in Kuala Lumpur, said before the decision. “The foreign-exchange reserves have been rather flattish in recent months and the country has been facing quite a bit of capital outflows. On the flipside, the risk is that the equity market will take it in a wrong way.”

Malaysia’s consumer prices rose for a second month in January, climbing 1.3 percent from a year earlier.

Inflation may accelerate later this year as the government studies a revamp of its fuel subsidy. Malaysia aims to come up with a new fuel-subsidy system before presenting the nation’s annual budget in October, Domestic Trade and Consumer Affairs Minister Ismail Sabri Yaakob said today.

Prices will increase “gradually” this year and inflation should remain “moderate,” the central bank said. It’s forecast for inflation takes into account possible adjustments in “administered prices” and rising global commodity and food prices, it said.

Bank Negara policy makers next meet to review interest rates on May 13. The central bank kept the statutory reserve requirement unchanged today. The measure determines the amount of money lenders need to set aside as reserves.

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Fresh ideas to stimulate investment may be included in the government’s so-called New Economic Model, International Trade and Industry Minister Mustapa Mohamed said in an interview on Feb. 27. Prime Minister Najib Razak will unveil the strategy in about a month’s time, Mustapa said.

“In the past couple of years there’s been more outflows than inflows,” Mustapa said. “We are going to be more aggressive in promoting our people to invest in Malaysia. We have spoken to our GLCs, for example. They have got some plans, some of which have been presented to the government.”

Malaysia reported a net outflow of 17.8 billion ringgit ($5.3 billion) in direct investment in the six months through September 2009, according to statistics department data. State- linked companies, including oil and gas producer Petroliam Nasional Bhd., mobile-phone operator Axiata Group Bhd. and palm- oil producer Sime Darby Bhd., have invested abroad in recent years to expand their operations.

The cumulative net outflow in investment overseas during the past three years was 40 billion ringgit, the Edge weekly newspaper reported on Feb. 27, citing central bank data. Investments abroad were mainly in oil and gas, financial services, communications and business services, the Edge said.

“There was a phase in Malaysia’s history when we encouraged our companies to move abroad and there was a time when we received a lot of foreign direct investment inflows into the country,” Mustapa said.

Spend at Home

While the government won’t stop companies investing overseas, it will encourage them more “aggressively” to spend at home, Mustapa said. The minister didn’t specify what measures to stimulate domestic investment may be included in the New Economic Model, saying details are being ironed out and discussions are still under way.

Property is one industry where government-linked companies can invest more locally, Mustapa said quick payday loans. “Some of the GLCs have huge land banks,” he said. “So this is time for them to think about putting more money into our system. We have been talking to our GLCs. We have been talking to our own people, our rich entrepreneurs who have done very well.”

Malaysia eased rules governing foreign investors, initial public offerings and property purchases last year, peeling back decades of benefits to the ethnic-Malay majority as the nation slid into its first recession in a decade.

Exports Improve

Overseas companies investing in the Southeast Asian nation and locally listed businesses no longer need to set aside 30 percent of their equity for so-called Bumiputera investors, identified as Malays and some indigenous people. Overseas ownership thresholds in the fund management industry and at local stockbrokers were also raised.

Malaysia emerged from its recession last quarter with gross domestic product rising 4.5 percent from a year earlier. Investment as measured by gross fixed capital formation jumped 8.2 percent, and the construction industry grew 9.2 percent, Malaysia’s central bank said on Feb. 24.

Export data for January, due on March 5, could exceed expectations, Mustapa said, adding that the country has no need for further stimulus. Malaysia unveiled 67 billion ringgit of measures under two packages in 2008 and 2009 to help resuscitate growth.

“What has happened in respect to Malaysia is a global phenomenon,” said Mustapa. “There has been a global contraction of foreign direct investments throughout the world.”

Approved factory investment dropped by about half to 32.6 billion ringgit last year as companies delayed projects during the global economic slump, Mustapa said last month. The government aims to attract domestic investments to account for 60 percent of total investments by 2020 from about 32 percent in 2009, he said Feb. 23.

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CEO Jim Keyes took the chance to speak honestly about the results in a statement, saying “the next 12 to 18 months will remain challenging as we balance the secular decline of a single channel with the ascension of emerging channels.”

Blockbuster for the entire year posted a net loss of $558 million, or $2.93 per share, on revenue of $5.065 billion. That is a much deeper loss than in fiscal 2008, when the company lost $374.1 million, or $2.01 per share, on revenue of $4.062 billion.

The company’s fourth-quarter results also showed signs of a business that is struggling against emerging media trends and a business cycle that has been unforgiving to companies in general.

During the fourth quarter, Blockbuster posted a net loss of $434.9 million, or $2.24 per share, on revenue of $1.084 million. The company posted a net loss of $359.8 million, or $1.89 per share, on revenue of $1.314 million in the fourth quarter of 2008.

Fourth-quarter 2009 results were hit by a confluence of factors, including a 14 guaranteed approval cash loans.7 percent drop in same-store sales, a reduction in company-owned stores and competitive pressures from other movie rental-retail companies.

In late 2009 and early 2010 Blockbuster closed six stores in the Jacksonville area.

To compete, Blockbuster said it intends to grow its by-mail video rental channel and continue to expand its digital movie offerings through On Demand to compete against new movie rental media.

Blockbuster also said it intends to leverage its relationship with NCR Corp.

In 2008, Blockbuster (NYSE: BBI), based in Dallas, and NCR, based in Dayton, Ohio, announced an agreement to test digital movie-downloading kiosks in select Blockbuster locations. Blockbuster said it expects through its relationship with NCR to add 7,000 Express kiosks to grow business.

About 35 kiosks have opened in Publix Super Markets Inc. stores in the Jacksonville area since the fall of 2009.

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“I sincerely hope the Bank of Japan will try to implement monetary policy appropriately,” Hatoyama said in parliament in Tokyo today. Finance Minister Naoto Kan told the same committee that the central bank should “make more efforts” to lift Japan out of deflation.

The comments are the latest in a growing conflict between the government and the Bank of Japan over how to spur prices, after Shirakawa last week shrugged off Kan’s calls for an inflation target and urged him to tackle the fiscal deficit. Shirakawa, speaking at the same hearing today, said the central bank will continue to provide “ample liquidity” to beat deflation.

“The central bank realizes it’s extremely important to overcome deflation and achieve sustainable economic growth,” Shirakawa said.

When asked by a ruling party legislator whether the central bank intends to increase its purchases of government bonds, Shirakawa said it buys 21.6 trillion yen ($240 billion) of the securities annually to “provide abundant funds in a stable manner through its money market operations.”

Investor ‘Trust’

Shirakawa said on Feb. 18 that it’s important to “gain the trust of financial markets by showing a path for fiscal consolidation.” Those remarks reflected his concern that increasing the bond purchases might give investors the impression that the bank is willing to fund government spending.

Japan has the world’s largest public debt, limiting the government’s ability to stimulate demand and fuel price increases. Hatoyama wants to sustain a recovery as his approval rating slumps ahead of upper-house elections in July.

The central bank also has limited options. With the benchmark interest rate already at 0.l percent, it unveiled a credit facility for commercial banks in December.

“We’d certainly like the Bank of Japan to make more efforts” to stop price declines and prop up the economy, Kan said today. Stamping out deflation is “a shared goal of the government and the central bank,” he said.

Kan said the government will present a plan to contain the public debt in June “to give relief to market participants amid concern about long-term interest rates.”

It’s “extremely difficult” to contain the public debt without beating deflation, the finance minister added.

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The timing and pace of deficit reduction is at the center of the campaign for the general election that Brown must call within weeks. David Cameron’s Conservative Party seized this week on a Feb. 14 letter whose signatories included four former Bank of England policy makers supporting their position that cuts are needed this year to keep the confidence of the markets.

Two letters published in the Financial Times disagree. Signatories for the first include Solow, 85, famous for his work on growth theory, and two former Bank of England deputy governors. It warns that “a sharp shock” now “would be positively dangerous.” The second, signed by Stiglitz, 67, and economics professors including Robert Skidelsky, says that those who seek to “reassure the markets” are following the advice of those “whose mistakes precipitated the crisis in the first place.”

The letters offer relief for Brown and his finance minister, Alistair Darling, coming after Britain posted its first budget deficit for January since monthly data began in 1993. The longest recession on record has shriveled the nation’s tax take, and at more than 12 percent of gross domestic product, the U.K. budget deficit is on a par with that of Greece.

The 67 economists also undermine Conservative Treasury spokesman George Osborne’s Feb. 15 argument that there was a “consensus of economic opinion aligned with” his party. Brown will tomorrow say that the opposition party’s “hatred of government action would risk the recovery,” according to extracts of a speech released by his Labour Party.

The Conservatives have led Labour in the polls for two years. Still, Britain’s electoral system means Brown can retain power without winning the popular vote. He must call the election by June.

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The grant is part of more than $225 million in health care and high-growth training grants funded by the American Recovery and Reinvestment Act of 2009, the U.S. Department of Labor said Friday.

The grants are to allow community colleges, community-based organizations, state work force agencies and other public entities to provide training that leads to employment in health care fields and other growing industries personal business card. Each project will focus on targeted regional populations, with about $25 million reserved for projects serving communities impacted by automotive industry restructuring.

Friday’s announcement was the sixth and final round of competitive grants for employment and training through the stimulus act.

Maryville University is a four-year, private university located in west St. Louis County.

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Edmunds.com reviewed more than 200,000 complaints filed with the National Highway Traffic Safety Administration (NHTSA) over the last decade and found that Toyota ranked 17th among the top 20 automakers in the overall number of complaints per vehicle sold.

The results come amid a series of recalls totaling more than 8.1 million Toyotas worldwide, including 400,000 of the popular 2010 Prius hybrid for problems associated with sticking brake pedals, software glitches and faulty floormats.

The study was based on the percentage of complaints each automaker received versus the total number of vehicles they sold in the United States between 2001 and 2010.

As a result, British carmaker Land Rover had the highest proportion of complaints relative to the number of cars it sold. The company received 0.6% of the total complaints in the database, while its sales amounted to only 0.1% of all new cars sold in the United States.

Meanwhile, Toyota had 9.1% of all the complaints in the database. But the company was number 17 on the list because its sales made up 13.5% of the U.S. market.

According to the study, Toyota had fewer complaints than its American rivals. Ford (F, Fortune 500) was number 10 on the list, while General Motors (GM, Fortune 500) came in at number 11.

The only automakers to receive fewer complaints than Toyota were Mercedes-Benz, Porsche and the Mercedes-made Smart Car.

Among the other automakers that ranked high on the list were Suzuki and Isuzu, which came in at numbers 2 and 3 respectively payday loans in 1 hour. German automaker Volkswagen came in at number 4.

The complaints lodged against Toyota ranged from minor problems with lighting to more serious issues such as sudden acceleration and difficulty steering. But the study did not rate the reported incidences for severity.

Edmunds.com said that it found some unreliable reports in the database, including one complaint indicating that 99 people had died in one vehicle as a result of an accident. It also said that about 10% of the complaints appeared to be duplicates.

Quality control: Not just Toyota’s problem

While the issues raised by Toyota’s recent recalls shouldn’t be overlooked, quality control concerns are apparent across the entire automobile industry, said Jeremy Anwyl, Edmunds.com chief executive.

"A broader view shows that consumer complaints reflect an industry issue, not just a Toyota issue," said Anwyl. "It is no longer an option for car companies to dismiss consumer complaints, even if the event is difficult to replicate or diagnose."

Some automakers assume that customer complaints are the result of driver error and not necessarily a reflection of design problems, said Jeannine Fallon, an Edmunds.com analyst.

"It depends on the culture of the car company," she said. "But it’s clear now that Toyota has not had very many conversations with NHTSA." 

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Colangelo, part of an investor group that recently purchased the Wigwam, will sign copies and talk about the launch of his book, “Return of the Gold: The Journey of Jerry Colangelo and the Redeem Team.”

Colangelo, a sports legend in the Phoenix area, is former owner of the Phoenix Suns, Phoenix Mercury, the Arizona Rattlers of the Arena Football League and the Arizona Diamondbacks. He also was instrumental in the relocation of the Winnipeg Jets of the NHL to Phoenix to become the Phoenix Coyotes. He currently is director of USA Basketball.

Members of the 2010 Special Olympics Arizona team also will conduct a torch parade as part of the Go for the Gold event and there will be music, dancing and a range of food.

The Special Olympics will be held July 18-23 in Lincoln, Neb.

Tickets for Go for the Gold, including a VIP reception and an autographed book copy, cost $65. Entrance to the evening reception costs $40. For more: 480-367-1112.

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