Various health care companies have already announced that the premium health care plan will be costlier as their cost is on the high. Some companies are also firing the empoloyees to cut down their cost. Most of the companies are cutting the benefits of customers to keep themselves in business.

If we check some companies, this grave situation can be felt. Caterpillar has announced that in the first year only it has to bear $100 million more cost to keep it afloat.

Medtronic the medical device manufacturer said that the new tax can escalate their cost and force them to fire workers.

On the other hand Verizone announced that they are cutting the benefits to cut down the cost. So get ready to pay more for your health care or you have to be satisfied with less benefits.

On Saturday The US President Barack Obama expressed that the dark phase of economic recession is not yet over. It will take many months before getting out of the clouds of recession. Some Economists and also the GDP is showing some improvement and predicted that the black phase is over.

According to him still many American's lose their jobs and monthly job report is also going to show the same trend. He is although backed his administrators initiative to keep the recession under control and also praised for the $787 billion stimulus package and its effect on the economy.

On Wednesday, Microsoft Corp and Yahoo Inc have announced the 10 year web search deal. They have tied to curb Google’s worldwide search dominance.

This deal was expected for long and now the Bing will be sole search engine for both the Yahoo and MSN. But the market is not at all happy with the deal. Yahoo shares have been fall by 12% as the investors were disappointed with the revenue sharing method and also with the lack of upfront payment. Google’s market price also down by 0.8%. Only Microsoft shares gave a bright face by advancing 1.4%.

According the deal now Bing will be the search engine for Yahoo site also. Yahoo sales team will work for the premium ad search selling.

This deal will not be effective right now it needs at least 2.5 years for getting the regulatory approval that means we have to wait for 2012 for the outcome of the deal. So lets hope for the best as Google is going to get its biggest contender in the name of Bing. Although still Google reigns at the helm as it is already having 65% search domination where as the Yahoo MSN combination is having only 28% search share in the world. Still lets hope for the best that Google is going to face its biggest threat in its reign.

Citigroup has registered $3 billion profit the quarter II. Earlier the market predicted a loss for the bank.

Now Citibank has become fifth big bank to make a profit in the quarter. The bank made profit of $3 billion or 49 cents per share after paying the dividends. In 2008 quarter II the bank had faced loss of $2.86 billion. Some times ago the market analysts had forecast that the bank was heading for a loss of 37 cents per share.

But the bank has proved all of them wrong. The group made $6.7 billion profit after selling its majority stakes at Smith Barney. The bank has also been able to recover some good value of its assets that were lost during recession. This New York based bank was one of the worst hit financial institutions by the credit crunch and recession. It has got stimulus fund from the government also and the fund is now showing its effect.