U.S.

Metals Fall, Yen Strengthens on Speculation China Will Restrain Expansion Commodities fell and the yen strengthened on increasing speculation that China, the world’s fastest-growing economy, will slow its expansion to control inflation. Stocks swung between gains and losses.

Company Bond Spreads at the Narrowest This Year Lure GMAC: Credit Markets Corporate bond yields fell to the lowest this year relative to benchmark government securities, luring GMAC Inc. to sell its longest-maturity notes since 2004.

Economy in U.S. to Cool as Stockpiles Give Way to Exports as Growth Driver Efforts to stabilize inventories will contribute less to the U.S. economy in coming months, leaving business investment and exports to propel growth, according to economists surveyed by Bloomberg News.

U.S. Stock-Index Futures Drop; Intel Falls, Devon Energy Soars on BP Deal U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index may snap two days of gains, before economic reports that may give further clues about the strength of the recovery.

Nomura Said to Hire Puritz of Deutsche Bank as Convertibles Chief for U.S. Nomura Holdings Inc., Japan’s biggest brokerage, hired David Puritz, head of U.S. convertible bond trading at Deutsche Bank AG, to run the business in New York, two people familiar with the situation said.

El-Erian Says World Economy May Face Disruptive Sovereign Debt Imbalances Mohamed A. El-Erian, whose company runs the world’s biggest mutual fund, said deteriorating public finances may affect the global economy more than is currently realized.

Latin America

Chavez Outdone by Billionaire Mendoza as Wealth Soars Amid Takeover Threat Venezuelan President Hugo Chavez’s “21st Century Socialism” is failing to rein in billionaire Lorenzo Mendoza.

Hedge Fund-Backed Argentine Soy Producer Tejar Weighs U.S. IPO on Demand Argentina’s El Tejar SA, which produces about 3 million tons of grains and oilseeds in South America, is weighing an initial public offering in New York to tap rising investor demand for agricultural assets.

Devon Energy to Sell Assets in Brazil, Gulf of Mexico to BP for $7 Billion BP Plc will pay Devon Energy Corp. $7 billion for assets in Brazil, the Gulf of Mexico and Azerbaijan, adding fields that may extend its production lead over Exxon Mobil Corp.

Brazil Prosecutors Seek Tax Probe Against Central Bank President Meirelles Brazil’s Prosecutor General asked the Supreme Court to pursue an investigation into alleged tax crimes by Central Bank President Henrique Meirelles, according to the high court’s docket posted on its Web site.

Pulp Price May Rise to Record as Chile Quake, Finnish Strike Curb Output Chile’s earthquake and a Finnish port strike may propel pulp prices to a record, hastening a tightening of inventories after papermakers cut output.

Vivo Ready to Slash Brazil's High-Speed Internet Prices, Chief Lima Says Vivo Participacoes SA, Brazil’s largest mobile-phone company, is ready to offer high-speed Internet services for less than half the current industry average if the government agrees to cut taxes, Chief Executive Officer Roberto Lima said.

Exclusive

Brown Tries to `Perversely' Benefit From U.K. Relapse Risk Before Election Gordon Brown is trying to turn the threat of a double-dip U.K. recession into an advantage.

Chrysler in Hibernation Means Marchionne May Have to Wait on Fiat Spinoff Fiat SpA, the Italian carmaker that helped Chrysler Group LLC emerge from bankruptcy, may wait to turn around the U.S. business before deciding on a share sale or spinoff for its automotive division.

Geely May Need to Invest at Least $1.4 Billion in Volvo to Revive Carmaker Zhejiang Geely Holding Group Co. may have to spend at least 10 billion kronor ($1.4 billion) to revive Volvo Cars after buying the Swedish brand from Ford Motor Co., Volvo union officials and board members said.

Solar Prospectors Chase `Gold Mine' Deals in Chinese, Israeli Subsidies 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.

Corporate Bond Spreads at Narrowest This Year Attract GMAC: Credit Markets Corporate bond yields fell to the lowest this year relative to benchmark government securities, luring GMAC Inc. to sell its longest-maturity notes since 2004.

Red-Coral Rescue Plans Endanger Italian Jewelry Makers of Torre del Greco The people of Torre del Greco, 10 miles south of Naples, have lived off the red corals found in the Mediterranean Sea for more than two millennia. A proposal to list the species as endangered may push the seaside town’s $217 million-a-year coral industry into extinction.