MID-DAY UPDATE: China’s plans and Citi’s biz

Starting out today’s news with some China stories. The U.S. is investigating China’s clean-tech policies for violations of international trade rules. Also in China, Communist party leaders are laying out that country’s next 5-year plan.

In France, French strikers have blocked access to refineries and oil depots to protest the government’s plan to raise the retirement age.

Citibank and a private equity firm are heading to court amidst allegations that Citi tricked the firm into buying EMI. Meanwhile, Citi is busy building its core business, but faces a myriad of issues.

Also, we look at Apple’s fourth quarter earnings. And we get a lesson on QE2 — otherwise known as quantitative easing, the Federal Reserve’s attempt to stimulate the economy.

We also explore why philanthropists have decreased their contributions and reporter Jeremy Hobson checks in with Christopher Miraldi, who lost his job in 2008 as a banker on Wall Street after 20 years in the business. We find out what’s next for Miraldi.