‘Trash’ plan

Nobel laureate Joseph Stiglitz told the Davos World Economic Forum that a decision by Presi dent Obama to establish a so-called bad bank to rid financial companies of toxic assets risks swelling the national debt and would amount to swapping taxpayers’ “cash for trash.”

Hot China

Fund managers Black Rock and Barclays are bullish on China, saying the steepest monthly stock gain in more than a year shows the fastest- growing major economy will avert a recession. Shares rebounded after rates were lowered five times since the fall and Beijing set a $585 billion stimulus plan.

Striking oil

Union negotiators and oil company reps re turned to the bargaining table yesterday, one day after telling thousands of US refinery and chemi cal plant workers to stay on the job as they try to hammer out a new na tional contract. A strike would idle at least 10 percent of US refining capacity within days.

Crystal mess

Worker protesters at luxury tableware maker Waterford Wedgwood’s crystal plant in Ireland are backing a bid by US private-equity firm Clar ion Capital, which has made pledges of job se curity, over an offer from rival KPS Capital Partners. Bankruptcy of ficials ordered the Irish factory to close Friday because funds for paying more than 700 staff had run out. Workers stormed into the fac tory’s tourist center and vowed not to come out until the shutdown was reversed.