More Breaking News

Toyota’s U.S. Sales May Spike 30% This Month, Edmunds.com Says Toyota Motor Corp., battling a two- month slide in U.S. sales amid recalls of millions of vehicles, may post a sales spike this month after introducing an incentive campaign, Edmunds.com said.

Citic Pacific Posts Full Year Net Income of HK$5.95 Billion Citic Pacific Ltd.’s net income for the year ended Dec. 31 was HK$5.95 billion, according to a statement to the Hong Kong stock exchange. That compared with the HK$5.48 billion median estimate of four analysts surveyed by Bloomberg.

PCCW Says Chairman Richard Li’s Buyout Plans ‘Dead’ (Update3) PCCW Ltd., linked to a police probe following a court ruling that a buyout bid by Chairman Richard Li had been manipulated, said investors at Hong Kong’s biggest phone company should consider the takeover plan as “dead.”

Indonesia’s Yudhoyono Says Terrorist Leader Dulmatin Killed Indonesian President Susilo Bambang Yudhoyono said wanted terrorist leader Dulmatin was among three people killed in a police raid yesterday near the capital, Jakarta.

Canon Says China May Become Top Camera Market in 2015 (Update2) Canon Inc. expects China’s camera market to become the world’s largest as early as 2015, overtaking the U.S., its head of the business said.

Citigroup Selling TruPS After Repaying Bailout: Credit Markets Citigroup Inc., seeking to bolster capital after repaying bailout funds to the Treasury, is selling trust preferred securities as rising investor demand drives borrowing costs to near the lowest in almost five years.

Yen Declines to 2-Week Low Against Kiwi on Asia Recovery Signs The yen declined to a two-week low against New Zealand’s dollar on speculation Japan’s economic recovery will lag behind the rest of the Asia-Pacific region.

Asian Stocks Fluctuate as Oil, Shippers Drop; Telstra Advances Asian stocks fluctuated as shipping lines and oil companies declined, while Australia’s largest telephone company rose on speculation it will avoid a breakup.

Yen Weakens Against Taiwan, New Zealand Dollar; Oil Declines The yen weakened against higher- yielding currencies as China said exports rose 45.7 percent to $94.5 billion, the most in three years, boosting optimism Asia is leading global growth. Oil fell for a second day.

China Trade Surplus Falls as Import Surge Aids World (Update1) China’s trade surplus shrank to the lowest level in a year in February as a surge in imports signaled the nation may start to outshine the U.S. as a destination for the world’s goods.

SDI, LG Chem to Gain on Battery Sales, Korea Investment Says South Korean rechargeable battery makers’ stocks will outperform the benchmark index on increased use in mobile devices, autos and electricity grids, according to Korea Investment Trust Management Co.

Bali Bomber Suspect Dulmatin Killed, AFP Says, Citing Yudhoyono Indonesian President Susilo Bambang Yudhoyono said police yesterday killed Dulmatin, suspected of helping plan the 2002 terrorist bombings on the resort island of Bali, Agence France-Presse reported, citing Yudhoyono in a speech in Canberra, Australia, today.

San Miguel Rises in Manila as Directors Initiate Tender Offer San Miguel Corp., the Philippines’ largest food and drinks maker, rose to the highest in more than two years in Manila trading after a company controlled by its directors initiated a tender offer.

Fujitsu Investors Renew Calls for Information on Nozoe Dispute Fujitsu Ltd. drew renewed calls from investors to shed more light on the departure of former President Kuniaki Nozoe after the Tokyo Stock Exchange ended a probe into the conflicting reasons given by the company.

Hedge Funds Rose 0.5% in February on Market Recovery (Update1) Hedge funds returned 0.5 percent in February, led by North American managers, as global stock markets rose on signs of recovery in corporate earnings and signs that U.S. interest rates will remain low, Eurekahedge Pte said.

Buy Ringgit Versus Won, Yen on Malaysia Rate Outlook, RBS Says Investors should buy the ringgit against South Korea’s won and Japan’s yen as Malaysia’s central bank may increase its policy rate as many as two more times in 2010, the Royal Bank of Scotland Group Plc said.

Baoshan Steel May Post 20-Fold Profit Surge on Autos, CICC Says Baoshan Iron & Steel Co., China’s biggest publicly traded steelmaker, may post at least a 20-fold profit gain for its first quarter because of strong demand from automakers, China International Capital Corp. said.

Japanese Machinery Orders Declined 3.7% in January (Update2) Japan’s machinery orders slipped in January after the biggest jump since 2000, indicating a subdued appetite among the nation’s companies to ramp up capital spending even as manufacturing passed its worst.

Australia, Indonesia Will Combat People Smuggling (Update1) Australia and Indonesia agreed to work more closely on combating people smuggling and terrorism and will upgrade annual talks between leaders and officials to a level enjoyed by Australia’s closest ally, the U.S.

Maanshan Steel’s Coal Imports to Rise; Buys From BHP (Update1) Maanshan Iron & Steel Co., the second-biggest Chinese steelmaker listed in Hong Kong, will increase coking coal imports this year, adding to rising global demand that’s sent prices soaring.

Give Congress the Boot to Save Our Great Country: Caroline Baum The public is mad as hell at Washington: at the corruption, the underhanded deals, the earmarks, the sense of entitlement that comes with lifetime employment. If we don’t want to take it anymore, we can do something about it.

Liz Cheney Would Call John Adams a Terrorists’ Pal: Ann Woolner Liz Cheney, meet John Adams. Perhaps you have heard of him.

Man Wearing Mask Might Save an Unloved Sport: Scott Soshnick Here’s a question you’ve probably heard before: What, if anything, can make Americans care about hockey more than once every four years?

‘Madmen, Fools’ Would Scuttle a Recovery: David G. Blanchflower John Maynard Keynes wrote during the Great Depression that only “fools and madmen” will tell you “the path of escape is to be found in strict economy.”

‘Bond Heaven’ Defies the Disasters in Munigeddon: Joe Mysak Buy me while you still can.

Australian Economy to Expand Faster, RBA’s Lowe Says (Update2) Australia’s economy is likely to expand at or above its average pace over the next few years, stoking inflation pressures and house prices, central bank official Philip Lowe said.

Bank of Korea’s Lee May Keep 2% Rate at Final Meeting (Update1) Bank of Korea Governor Lee Seong Tae will probably keep interest rates unchanged at his final meeting as he faces “intense” political pressure to spur investment and cut unemployment.

Buy Taiwanese Stocks With China Ties, Island’s Top Fund Says Investors should buy shares of Taiwanese companies that benefit most from the island’s closer ties with China, according to the manager of Taiwan’s best- performing equities fund.

Baltic Trading Raises $228 Million in IPO at Low End (Update1) Baltic Trading Ltd., the New York- based shipping company formed to operate dry-bulk vessels, raised $228 million in its initial public offering after selling shares at the low end of its price range.

Obama Spokesman Defends Court Criticism After Roberts Remarks President Barack Obama’s spokesman defended the president’s criticism of a Supreme Court decision in his State of the Union address after Chief Justice John Roberts questioned the appropriateness of the remarks.

Senate Said to Weigh $50 Billion Fund to Wind Down Failed Firms Senate negotiators are closing in on a deal to create a $50 billion trust fund from fees on large U.S. financial firms that likely will include Goldman Sachs Group Inc. and Citigroup Inc. and be used to wind down failing institutions, said a Senate aide and two people familiar with the talks.

Iraqis Maneuver Amid Signs No Party Will Win Election Majority Iraq faces tough political coalition-building as leaders maneuvered amid indications that no party would win a majority when initial results from the parliamentary election are announced.

Pelosi Says Democrats Didn’t Pressure Massa to Leave Congress House Speaker Nancy Pelosi rejected claims by former Democratic Representative Eric Massa that he was ousted because of his opposition to health-care legislation.

Papandreou Says Obama ‘Supportive’ of Measures on Greek Crisis Greek Prime Minister George Papandreou said U.S. President Barack Obama expressed support for measures being taken to deal with Greece’s financial crisis.

Apollo Management Said to Buy Citi’s Property Unit (Update1) Apollo Management LP agreed to buy Citigroup Inc.’s real estate investment unit, according to a person with knowledge of the deal.

Emerging-Market Stocks May Retreat 15%, Aberdeen Says (Update1) Emerging-market stocks will drop as much as 15 percent this year as earnings miss estimates and global growth slows, said Devan Kaloo, who oversees $22 billion at Aberdeen Asset Management Plc.

Kerry Says ‘Great Deal’ of Consensus Achieved on Climate Policy Senator John Kerry said a “great deal of consensus” was reached among a bipartisan group of lawmakers who discussed energy policy at the White House today, and he’s moving “rapidly” to introduce legislation.

Most Japanese Shares Rise as Sony Gains; Shippers Sink on Fees Most Japanese shares gained as Sony Corp. and Honda Motor Co. advanced. Shipping lines fell after a gauge of commodity-transport fees slipped.

Sex Ends at 70 for Most People as Health Declines, Study Says The average person’s sex life ends by the age of 70, according to a report published today in the British Medical Journal.

Phantom’s Love Gets Messy in Sequel ‘Love Never Dies’: Review The Phantom of the Opera, last seen fleeing from the bowels of the Paris opera, has resurfaced as an impresario in Coney Island.