More Breaking News

Japan’s Economy Grows 3.8%, Less Than First Estimated (Update2) Japan’s economy expanded less than initially estimated in the fourth quarter as companies slashed spending on plant and equipment and a measure of prices declined.

Grapevine Moth Invades Napa Valley, Threatens California Crop California grape growers have a new threat to deal with this spring, in addition to perennial concerns about frost and heat: The European grapevine moth has invaded Napa Valley, one of the top U.S. wine-producing regions.

Japanese Stocks Rise on Economic View Report, Yen; JFE Drops Japanese stocks rose after the Nikkei newspaper reported the government may lift its view on the nation’s economy and the yen depreciated.

Top London Chefs Compete for Bids to Cook in Homes: Food Buzz Twenty leading chefs helped raise a total of 400,000 pounds ($600,000) for leukemia care when they prepared dinner and auctioned off their services for private dining at the annual Leuka charity dinner on March 8 in London.

Goldman Bankers Ride Merry-Go-Round With West Pointers: Books The bankers of Goldman Sachs Group Inc. may be in for a surprise: They have more in common with West Point cadets than they know.

Greeks Brace for Protests, National Strike Over Budget Cuts Greece’s unions will shut down hospitals, airports and schools today in the country’s second general strike this year to protest Prime Minister George Papandreou’s latest round of budget cuts to curb the European Union’s biggest deficit.

Japan’s Note Yields May Fall to Six-Year Low, Chuo Mitsui Says Japan’s five-year notes may rise, pushing yields to the lowest level since August 2003, as the central bank looks to maintain its monetary-easing policy, according to Chuo Mitsui Trust & Banking Co.

AIG Ex-CEO Greenberg Leaves Cuomo’s Office After Deposition Maurice “Hank” Greenberg, American International Group Inc.’s former chief executive officer, left the Manhattan offices of New York Attorney General Andrew Cuomo late today after a scheduled deposition.

Pimco’s El-Erian Sees Sovereign Debt Surge Disruptive (Update1) Mohamed A. El-Erian, whose company runs the world’s biggest mutual fund, said the global economy may face disruptions because of the simultaneous and significant deterioration in public finances.

Japan’s Futures Rise on Economic View; Australian Stocks Gain Japan’s futures rose after the Nikkei newspaper reported the government may lift its view on the nation’s economy. Australian stocks advanced.

Thai Bonds May Rally as Investors Brace for Protests, ING Says Thailand’s government bonds, the second-best performers in Asia this year, will extend gains as investors seek safety in fixed-income assets amid protests against Prime Minister Abhisit Vejjajiva, said ING Groep NV.

Family Genome Sequence Fewer Mutations Inherited (Update1) The gene sets of a four-member family were analyzed in research that suggested parents pass fewer gene mutations than thought to their offspring.

Silverstein May Default on Debt for 575 Lexington (Update2) New York developer Larry Silverstein, who teamed with the California State Teachers Retirement System to buy a 35-story skyscraper in 2006, now faces “imminent default” on debt tied to the property, Fitch Ratings said today.

U.S. Governors Urge Congress to Stop EPA Carbon Rules (Update1) A bipartisan group of U.S. governors today urged federal lawmakers to stop the Obama administration from regulating greenhouse gases under an existing law.

Batista Jumps to World’s Eighth-Richest Man, Worth $27 Billion Eike Batista jumped 53 spots in Forbes magazine’s annual list of the world’s richest people and had its biggest increase in worth as the value of his Brazilian oil, mining, energy and transportation companies soared.

Solar Prospectors Chase ’Gold Mine’ Deals in China, Israel Olivier de Vergnies quit managing family fortunes at Dexia Private Bank (Switzerland) Ltd. in 2008 to run a New York start-up at 100 Wall St. that’s trying to tap riches in solar energy.

Slim Overtakes Gates, Buffett to Become Forbes Richest Person Mexico’s Carlos Slim beat Bill Gates and Warren Buffett for the top spot on Forbes magazine’s annual list of billionaires, becoming the first person from outside the U.S. to lead the rankings in 16 years.

Heart Angiograms Show No Disease in Almost 40% (Update1) Doctors may be sending patients too quickly for elective angiograms to detect heart disease, exposing them to radiation and driving up U.S. health-care costs, a study suggests.

Senate Passes $138 Billion Bill Extending Jobless Aid (Update1) The U.S. Senate approved a $138 billion measure that would extend unemployment benefits and provide additional aid to states in lawmakers’ second major effort this year to boost the economy.

OnLive Game System to Start in June at $14.95 a Month (Update2) OnLive Inc., the Silicon Valley company creating a Web-based video-game system, said it will offer a $14.95-a-month subscription, challenging console makers Microsoft Corp., Nintendo Co. and Sony Corp.

Citigroup Sells $2 Billion of TruPS With 8.5% Yield (Update1) Citigroup Inc. sold $2 billion of 30-year trust preferred securities with an initial 8.5 percent yield, according to a person familiar with the offering.

Trump Casinos Need New Loan, Icahn Lawyer Tells Judge (Update1) Trump Entertainment Resorts Inc., the bankrupt casino company pursued by two sets of competing billionaires, needs a new, court-approved loan to remain open, a lawyer for investor Carl Icahn said today in court.

Pimco’s El-Erian Sees Sovereign Debt Imbalances as Disruptive Pacific Investment Management Co.’s Mohamed El-Erian said the global economy may face disruptions because of the simultaneous and significant deterioration in the public finances of many advanced economies.

Chevron Asks Judge to Allow Arbitration Over Ecuador (Update1) Chevron Corp., the second-largest U.S. oil company, asked a federal judge to allow an arbitration panel to resolve a court fight over an environmental cleanup in Ecuador that might cost as much as $27 billion.

Democrats at Odds on Banning Earmarks to Companies (Update1) U.S. House and Senate Democrats are at odds over an election-year proposal to ban so-called earmarks providing federal money to defense contractors, energy firms and other private companies.

Goldman Earned $55.7 Million From Build America Fees (Update2) Goldman Sachs Group Inc., the most profitable securities firm in Wall Street history, has made $55.7 million from the sale of $36.4 billion of Build America Bonds, about a third of the fees it earned from its municipal business, it said in response to queries from Iowa Senator Charles Grassley.

Mexico to Renew $48 Billion Credit Line With IMF (Update2) Mexico intends to renew a $48 billion credit line with the International Monetary Fund for one year as the country emerges from its deepest slump in 70 years.

Psychiatric Solutions Says Approach Made by Purchaser (Update2) Psychiatric Solutions Inc., the operator of psychiatric facilities in 32 states, said it has been approached by a potential buyer.

AIG ‘Money in Door’ Deals Reap $3.2 Billion Bond Gain (Update3) American International Group Inc. bondholders reaped at least $3.2 billion after the bailed-out company announced deals to sell its two largest non-U.S. life insurance divisions for $51 billion.

Bollard Says N.Z. Won’t Raise Rates Until Mid-Year (Update2) New Zealand’s central bank said it will wait until the middle of the year before raising interest rates as falling house prices and weak consumer spending are contributing to a slow economic recovery. The currency fell.

Budget Deficit in U.S. Widens to Record $221 Billion (Update2) The U.S. budget deficit widened to a record in February as the government boosted spending to help revive the economy.

Merck’s Stromectol Wipes Out Hard-to-Treat Lice, Study Finds Merck & Co.’s Stromectol tablet worked better than lotion at clearing up hard-to-treat head lice, a study found, as the infestations become increasingly resistant to current medicines.

Stocks Climb as Treasuries, Yen Retreat on Economic Optimism Stocks rose, erasing the 2010 loss for a gauge of emerging markets, while Treasuries and the yen fell as data on U.S. wholesale inventories and improving corporate bond markets bolstered optimism on the economy.

CA Agrees to Buy Nimsoft for $350 Million in Cash (Update2) CA Inc., the second-largest maker of software for mainframe computers, agreed to buy closely held Nimsoft Inc. for about $350 million to expand in cloud computing.

Wal-Mart Restores 300 Items After Store Visits Fall (Update2) Wal-Mart Stores Inc., the world’s largest retailer, returned about 300 items to its U.S. stores after their removal last year hurt shopper traffic.

Geithner Says Deficits Aren’t Crowding Out Private Borrowing Treasury Secretary Timothy F. Geithner said U.S. budget deficits, while “unsustainably high,” are helping the economy recover from recession without hurting private borrowers.

U.S. Stocks Gain on Economic Optimism as Financials Rally U.S. stocks rose for a second day as a drop in wholesale inventories and improvement in corporate bond markets added to signs the economy is strengthening, overshadowing concern China will raise interest rates.

Kinetic Concepts Wins Smith & Nephew Patent Case (Update4) Kinetic Concepts Inc.’s technology used to treat severe wounds was infringed by Smith & Nephew Plc, a federal jury found. Kinetic rose by more than 22 percent.

Libya Accepts U.S. Apology for Remarks About Qaddafi (Update1) Libya has accepted a U.S. State Department apology for remarks about a call by the North African nation’s leader, Muammar Qaddafi, for a jihad against Switzerland, the Libyan mission to the United Nations said.

NYC Plans $900 Million General Obligation Bond Sale (Update1) New York City plans to sell $900 million of general obligation bonds as soon as next week, including $675 million of taxable Build America Bonds, according to the city’s Office of Management and Budget.