More Breaking News
Hoyer Predicts House Will Pass Senate Health Bill This Month House Majority Leader Steny Hoyer
predicted his chamber will pass the Senate health-care overhaul
this month along with a package of changes and said public
support is gaining for the legislation.
Fat Surgery Urged for Obese Kids May Boost Allergan (Update1) David Ludwig, director of the
obesity program at Children’s Hospital Boston, was against
weight-loss surgery for kids, he says, because it ignored the
real problem, a “toxic environment” jammed with junk food.
Primus Guaranty Hires Lusardi to Help Rebuild Credit-Swap Unit Primus Guaranty Ltd. hired Robert
Lusardi, a board member and former XL Capital Ltd. executive,
to help it rebuild a business that sold credit-default swaps to
banks and other financial firms.
Nokia Seeks Dismissal of Apple’s Antitrust Claims (Update1) Nokia Oyj, the world’s largest
maker of mobile phones, asked a U.S. judge to throw out Apple
Inc.’s claims that it is trying to monopolize the wireless
technology market and seize access to iPhone technology.
Iraqi Vote Results Signal Inconclusive Contest as Shiites Split Preliminary results in Iraq’s
parliamentary election signal a tight race that is unlikely to
give any political alliance a majority.
Retail Sales in U.S. Unexpectedly Rose in February (Update4) Sales at U.S. retailers
unexpectedly climbed in February as shoppers braved blizzards to
get to the malls, signaling consumers will contribute more to
economic growth.
U.S. Michigan Consumer Sentiment Index Fell to 72.5 (Update2) Confidence among U.S. consumers
unexpectedly declined for a second month in March, a sign
Americans are discouraged about the labor market.
New York, Washington to Receive Soaking Rain Through Weekend Soaking rain from a slow-moving
storm will spread across the northeastern U.S. today, leaving as
much as 4 inches (10 centimeters) from Washington to New York
City though the weekend, forecasters said.
Yellen Said to Be Obama’s Pick for Fed Vice Chairman (Update2) Federal Reserve Bank of San
Francisco President Janet Yellen is President Barack Obama’s
pick for vice chairman of the central bank in Washington, three
people with knowledge of the selection process said.
CF Industries, Terra Industries Agree to Combine (Update2) CF Industries Holdings Inc. will
acquire Terra Industries Inc. for about $4.7 billion after
topping a bid from Yara International ASA.
Koito Executives Leave, President Takes Pay Cut After Fake Data Koito Industries Ltd., the Japanese
plane-seat maker that falsified test results, said three
executives will leave and its president will take a pay cut as
work begins on checking seats in about 1,000 commercial aircraft.
U.S. Michigan Consumer Sentiment Index Fell to 72.5 in March The Reuters/University of Michigan
preliminary March consumer sentiment index fell to 72.5 from a
final reading of 73.6 a month earlier.
Marchionne Shifts Hiring Strategy in Fiat’s U.S. Move (Update1) Sergio Marchionne’s hiring of
former Volkswagen AG executive Laura Soave to reintroduce the
Fiat brand in the U.S. breaks with the Chrysler Group LLC chief
executive officer’s strategy of promoting from within.
BGC May Hire Tullett Staff Next Month, Judge Says (Update2) BGC Partners Inc. may be able to
hire employees from rival Tullett Prebon Plc as soon as next
month, a London judge ruled today in a long-running dispute
between the brokers.
Obama Delays Asia Trip as Health-Care Measure Faces New Hurdle President Barack Obama is delaying
his trip to Asia to work on health-care legislation as
Republicans claimed a parliamentary victory in their effort to
derail the measure.
Canada Job Growth Beats Forecasts; Currency Surges (Update3) Canada created more jobs than
expected in February and the jobless rate fell to a 10-month
low, cementing Prime Minister Stephen Harper’s view that the
country’s economic recovery is under way.
BHP, Anglo, Xstrata Ship Coal 10,000 Miles to China (Update1) BHP Billiton Plc, Anglo American
Plc and Xstrata Plc are shipping coal 10,000 miles to China from
their Cerrejon mine in Colombia for the first time this year
because of surging demand and rising prices in Asia.
Stocks, Commodities Gain as Dollar, Treasuries Drop on Economy Stocks and commodities rose, while
the dollar and Treasuries slid, as growth in U.S. retail sales
and European industrial production boosted confidence in the
global economy.
U.S. Stocks Advance as Retail Sales Bolster Economic Optimism U.S. stocks rose, keeping the
Standard & Poor’s 500 Index at a 17-month high, as an unexpected
increase in retail sales added to evidence the economic recovery
is strengthening.
Obama Delays Asia Trip to Work on Health Care, Official Says President Barack Obama is delaying
his trip to Asia by three days, until March 21, to work on
getting health-care legislation passed, an administration
official said.
Chile Peso Not ‘One-Sided Bet,’ Pimco’s Osses Says (Update1) Chile’s peso will begin weakening
late this year as the country’s worst earthquake in 50 years
slows economic growth and record-low interest rates sap demand
for fixed-income assets, Pacific Investment Management Co.’s
Guillermo Osses said.
Hungary’s Sale of ‘Recycled’ Credits Weighs on Carbon Markets The spread between European Union
emission allowances and comparable UN credits widened to the
most in almost a month on concern that Hungary’s sale of
“recycled” goods may undermine markets.
Basquiat Sells, Hirst Pig Tempts at $2.7 Billion Fair (Update1) A work by Jean-Michel Basquiat
sold today within the first two hours of the official opening
of the world’s largest art and antiques fair in the Dutch city
of Maastricht. Other pieces by Damien Hirst, Alberto Giacometti
and Paul Gauguin attracted interest from billionaires who took
time browsing Tefaf, the 23rd annual European Fine Art Fair.
EU Said to Discuss EU Bonds to Fund Any Greek Rescue (Update1) European Union finance ministers
will discuss next week whether any Greek bailout should be
funded by EU bonds guaranteed by euro region governments, said
three people briefed on preparations for March 15-16 meetings.
U.S. Stock-Index Futures Gain on Unexpected Rise in Retail Sales U.S. stock-index futures extended
gains after retail sales unexpectedly increased in February,
adding to signs the economic recovery is gaining momentum.
British Airways Cabin-Crew Union Calls 7-Day Strike (Update2) British Airways Plc’s 12,000 flight
attendants will strike for seven days starting on March 20 after
talks about pay and lower staffing levels broke down.
KKR to Move Stock Listing to New York From Amsterdam (Update1) KKR & Co., the private-equity firm
run by Henry Kravis and George Roberts, filed to list its shares
on the New York Stock Exchange, bringing it closer to completing
a two-year attempt to go public in the U.S.
Nazi-Looted Corot Painting to Be Sold by Sotheby’s (Update1) Sotheby’s will offer a painting by
the French artist Jean Baptiste Camille Corot in an auction of
19th-century art after a Dutch museum returned the work to the
heirs of a Jewish banker persecuted by the Nazis.
Canada’s Dollar Approaches Parity After Job Growth Accelerates Canada’s dollar traded almost equal
to the U.S. currency for the first time since July 2008 after a
government report showed the nation’s employers added more jobs
last month than economists forecast.
Volvo’s Renault Trucks May Ask for More Aid to Extend Layoffs Volvo AB, the world’s second-
largest truckmaker, may need more government support in France,
where its Renault Trucks unit is lagging behind a global
recovery and aid conditions rule out job cuts until late 2012.
‘Undercover Boss’ Spurs Waste Management New-Customer Inquiries Waste Management Inc.’s president
is learning that reality-television shows may be one man’s trash
TV and another’s public-relations treasure.
World’s Biggest LPG Shipping Line Idles Four Vessels (Update1) BW Gas Ltd., the world’s biggest
shipper of liquefied petroleum gas, idled four tankers because
rates plunged so low that each vessel was losing the company
about $25,000 a day.
Yara Won’t Raise Offer for Terra, Says ‘Race Is Over’ (Update3) Yara International ASA, the largest
publicly traded nitrogen-fertilizer maker, said it wouldn’t
raise a $4.1 billion offer for Terra Industries Inc., leaving
the way clear for rival suitor CF Industries Holdings Inc.
Junk Bonds Pull Ahead as TXU, Freescale Soar: Credit Markets High-yield, high-risk bonds are
beating investment-grade debt for the first time this year as
confidence in the U.S. economic recovery gains strength.
Bombings Kill 53 in Pakistan’s Lahore as Lull in Attacks Ends Two suicide bombers attacked an
army convoy in Pakistan’s Lahore, killing at least 53 people and
injuring 95 in the second attack on the city this week, police
and rescue services said.
China May Face ‘Massive’ Bank Bailouts After Stimulus (Update1) China may be forced to bail out
banks that made loans for local-government projects under the
unprecedented stimulus program unleashed in 2008, according to
Citigroup Inc. and Northwestern University’s Victor Shih.
Bombings in Army Area of Pakistan’s Lahore Kill 53 (Update1) Two suicide bombings in Pakistan’s
Lahore killed at least 53 people and wounded 95 others, the
second attack in the city this week, police and rescue services
said.
Cheyne Capital Fund Bets on Improvement in U.K. Property Market Cheyne Capital Management (U.K.)
LLP, a hedge fund firm which oversees $5.5 billion, is betting
on an improvement in Britain’s real estate market.
New York Draws Level With London as Finance Center, Report Says London and New York hold equal
first place in a ranking of global financial centers after the
British capital lost its primary ranking because of concern over
higher taxes and tighter regulations, according to a report.
Baer Says Swiss, Europe Must Compromise to Settle Secrecy Spat Switzerland and the European Union
should compromise to resolve a dispute over banking secrecy or
risk losing the assets of wealthy people to Asia, said Julius
Baer Group Ltd. Chairman Raymond Baer.