More Breaking News

Arrow Shares Halted Amid Talk of Sweetened Takeover (Update3) Arrow Energy Ltd. was halted from trading in Sydney amid speculation Royal Dutch Shell Plc and PetroChina Co. will sweeten their A$3.3 billion ($3 billion) takeover offer.

Obama Delays Indonesia Trip to Focus on Health Care (Update1) President Barack Obama postponed a trip to Indonesia for three months to focus on his health-care plan, ceding ground to China in seeking trade and investment opportunities in Southeast Asia’s largest economy.

Google China Withdrawal May Be Permanent, Ex-Executive Says Google Inc. would probably be unable to return to China should it withdraw from the market instead of abiding by the country’s censorship laws, a former executive at the company said.

Asia Stocks Rise on Improving U.S. Economic Outlook; Yen Falls Asian stocks rose, led by Japanese car and electronics makers, after reports on fewer U.S. jobless claims and higher manufacturing boosted confidence in the recovery of the region’s biggest export market. The yen weakened.

Batista Raises $3.9 Billion Less Than Sought for OSX Share Sale Billionaire Eike Batista is raising $3.9 billion less than he sought for OSX Brasil SA’s initial share offering after trying to lure investors to an oil-services and shipbuilding company with no revenue or profits.

Euro Set for Worst Week Since Start of February on Greece Woes The euro is set for its biggest weekly loss since the start of February as concern Greece will fail to secure financial assistance from the European Union damped demand for the currency.

Hong Kong Air Pollution ‘Very High’ for Second Day (Update1) Hong Kong air pollution reached “very high” levels at roadside stations for the second straight day, prompting the government to issue a health warning for people with heart and lung illnesses.

Europe Equity Funds Post Biggest Outflows Since 2009 (Update1) European equity funds posted net outflows of $1.06 billion in the week to March 17, the biggest net withdrawal since May 2009, amid concerns about Greece’s debt crisis, EPFR Global said today in a statement.

Hyundai Hysco Jumps to Highest in Decade on Earnings (Update1) Hyundai Hysco, the steelmaking unit of South Korea’s largest carmaker, rose to the highest in a decade in Seoul trading after the company said first-quarter earnings are beating expectations on demand from automakers.

Bankrupt Salander Pleads Guilty in New York Art Fraud (Update3) Lawrence B. Salander, a former New York art dealer, pleaded guilty today to stealing about $120 million from customers and investors.

Asia-Pacific Loan Prices Soar as Lending Slump Ignites Trading Asia-Pacific corporate loan prices rose to the highest in two years after syndicated bank lending slumped to the lowest since 2005, attracting investors to an emerging market for older debt.

Rudd to Debate Abbott on Health in Start to Election Campaign Australian Prime Minister Kevin Rudd will face opposition leader Tony Abbott in an unprecedented leaders’ debate on health next week, effectively starting the election campaign before a date has been set for the ballot.

Roach Rebuffs Krugman Call to Pressure China on Yuan (Update2) Morgan Stanley Asia Chairman Stephen Roach said that Paul Krugman’s call to push China to allow a stronger yuan is "very bad" advice and that increased Chinese spending is a better way of reducing trade balances.

Asian Stocks Rise After U.S. Jobless Report Bolsters Confidence Asian stocks rose, driving the MSCI Asia Pacific Index toward a fourth weekly advance, after U.S. jobs and manufacturing reports boosted confidence in a global economic recovery.

Google May Shut Down China Unit in April, CBN Says (Update1) Google Inc. may pull out of China on April 10, China Business News reported today, citing an unidentified Chinese sales agent for the company.

HSBC Buys China’s Banks; Doesn’t See Bad Loan Problem Till 2012 HSBC Global Asset Management bought China’s bank stocks even amid concerns that record credit growth will increase bad loans and accelerate inflation.

Bond Bid-Riggers Deserve Overdue Jail-Cell Justice: Joe Mysak Prison terms will do what years of good intentions, new rules and cash fines have not: clean up the municipal bond market.

States Say We Don’t Need No Stinkin’ Health Reform: Ann Woolner If Democratic leaders ever get a health-care overhaul through Congress, they could find themselves only halfway through the slog.

Janitor Jock Proud to Mop Floors He Once Ruled: Scott Soshnick Syracuse University boasts an impressive collection of distinguished alumni. Politicians, authors, journalists and, yes, athletes.

JPMorgan Asset’s Chang Buys Asian Currencies on Inflation Fight JPMorgan Asset Management sold dollars to buy Asian currencies in the past month on prospects they will appreciate as central banks fight inflation, according to Stephen Chang, head of fixed-income.

Japan, Brazil Plan to Help Mozambique Become Grain Exporter Mozambique, which depends on imports to meet about half its rice needs, aims to become a grain exporter after achieving self-sufficiency as early as 2015 with technical and financial assistance from Japan and Brazil.

Deutsche Hires Mitsubishi Executive to Helm Tokyo Commodities Deutsche Bank AG, Germany’s biggest bank, hired the president of Mitsubishi Corp.’s fuel-trading unit, Kenichiro Yamaguchi, to meet growing demand from Japanese power utilities for hedging commodities against price swings.

Clinton to Meet Putin After Urging Iran Plant Delay (Update1) U.S. Secretary of State Hillary Clinton, who’ll meet Russian Prime Minister Vladimir Putin in Moscow today, urged her hosts to delay plans to bring a nuclear power station in Iran online.

Google Says Viacom Secretly Uploaded Clips to YouTube (Update2) Google Inc. said Viacom Inc., owner of MTV and Comedy Central, secretly uploaded clips to the Internet company’s YouTube video-sharing Web site while complaining about alleged copyright violations.

Indonesia’s Pricier Stocks Than China Won’t Slow Gain, AMP Says Indonesia stocks may rise a further 15 percent this year, extending Southeast Asia’s best rally as the nation’s earnings prospects allow for prices that are higher than those in China, according to AMP Capital Investors.

Japanese Stocks Rise on U.S. Economy; Property Developers Slump Japanese stocks rose after reports on U.S. jobless claims and Philadelphia manufacturing boosted confidence in the world’s biggest economy.

Papandreou Racing to Cut Greek Interest Rates With Aid Pledge Greek Prime Minister George Papandreou is racing to secure an explicit pledge of European aid and cut his country’s borrowing costs as 20 billion euros ($27 billion) of debt comes due in the next two months.

McLaren Aims 200 Mph MP4 at Ferrari Owners Who Seek More Speed McLaren Group said its 200-mile- per-hour MP4 supercar will be pitched to owners of Ferraris, Lamborghinis and other luxury marques seeking to add an even faster model to their fleet.

Dubai’s Debt Blues Drowned Out by Chopin, Marsalis in Abu Dhabi Pianist Yundi Li and saxophonist Wynton Marsalis are names not often associated with Abu Dhabi, home to more than 7 percent of the world’s oil supply.

Morgan Stanley Woman Becomes ‘Iron Chef’ After Meeting Ramsay It’s a fast-paced environment where orders are shouted, politeness is a luxury and a split- second decision can mean the difference between success and failure.

Yuan Poised to Become Reserve Currency, Goldman’s O’Neill Says China’s yuan is destined to become a global reserve currency rivaling the dollar and the euro, as the nation’s economic power increases the currency’s allure, said Jim O’Neill, chief economist at Goldman Sachs Group Inc.

EFG Bank’s Bespoke Art Parties Aim to Cultivate New Collectors Let other bankers chase rich folks seeking a piece of the $2.7 billion worth of loot at this week’s 23rd European Fine Art Fair in the Dutch city of Maastricht.

Headley Pleads Guilty in Mumbai, Denmark Terror Plots (Update3) David Coleman Headley pleaded guilty in federal court in Chicago to helping plan the November 2008 terror attacks in Mumbai and an assault on a Danish newspaper that wasn’t carried out.

Toyota Seeks ABC Retraction of ‘Irresponsible’ Report (Update1) Toyota Motor Corp. asked U.S. broadcaster ABC News to retract and apologize for an “irresponsible” report it aired last month suggesting electronics as the cause of sudden acceleration in its cars.

Japanese Futures Rise on U.S. Economy; Australian Shares Slip Japan’s stock futures rose after reports on jobless claims and Philadelphia manufacturing boosted confidence in the U.S. economy. Australian shares dropped.

Clinton, Netanyahu Discuss ’Atmosphere’ for Talks (Update1) Israeli Prime Minister Benjamin Netanyahu and U.S. Secretary of State Hillary Clinton discussed by telephone possible steps to advance prospects for Middle East peace talks, the State Department said.

Bharti Said to Seek Zain Cover on Nigeria in $9 Billion Deal Bharti Airtel Ltd, the Indian phone company planning a $9 billion purchase of Zain’s African assets, may ask Zain for legal protection from a dispute in Nigeria, according to a person familiar with the negotiations.

Japan Futures Rise on U.S. Economy; Australian Shares Slip Japan’s stock futures rose after reports on jobless claims and Philadelphia manufacturing boosted confidence in the U.S. economy. Australian shares dropped.

Pound May Advance to Month High Against Yen: Technical Analysis The pound may rise to a one-month high against the yen after the U.K. currency broke through its 20-day moving average, according to Gaitame.com Research Institute Ltd., citing trading patterns.

Palm Forecast Trails Analysts’ Estimates; Shares Drop (Update2) Palm Inc. forecast sales that trailed analysts’ estimates as its phones fail to match the popularity of rival models running on Google Inc.’s Android software. The shares fell as much as 15 percent in late trading.