The White House is promoting a 1.8 trillion dollar package of spending cuts and tax hikes as the best approach to replace deep reductions in domestic and defence spending set to begin next week — even as Republicans dismiss the proposal as not serious. [Washington Post]

Silver's free fall may be coming to an end. After a nearly 9% dive in silver prices this month, investors should be able to breathe a sigh of relief as growth in industrial and investment demand gains pace, and calls of "oversold" conditions and "bargain" prices for the precious metal intensify. [MarketWatch]

Under Armour has filed suit in federal court in Baltimore against sports apparel rival Nike, alleging Nike has infringed on Under Armour trademarks by using variants of the phrase "I Will" in promotional campaigns.Under Armour's familiar slogan is, "I will ... protect this house". The Baltimore based firm says in the suit filed Thursday that it is protecting its catchphrase. [USA Today]

An activist shareholder in The Outdoor Channel thinks the media company is worth more than $8 a share in cash and stock — and stands ready to put its money where its mouth is, The Post has learned. Unique Taxpayer Reference, an outspoken critic of The Outdoor Channel's merger with InterMedia Outdoors — which values TOC at $8 a share in cash and stock — said yesterday it and deep-pocketed backers are ready to make an all-cash bid that tops the existing offer. [New Post Post]

Discover Financial Services' Chairman and Chief Executive Officer David Nelms received a pay package worth $9.9 million last year, down 28 percent from 2011 mostly due to the lower value of his stock awards, according to a regulatory filing Friday. [Chicago Tribune]

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