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Asia Stocks Erase Gains; Metals, Oil Drop on China Inflation Metals dropped and Asian stocks erased gains, while the yen and dollar strengthened, after reports on Chinese inflation, factories and loans raised concerns the government would take steps to cool the economy.

Putin Visits India in Race With U.S. for Arms, Nuclear Deals Russian Prime Minister Vladimir Putin arrives in New Delhi tonight to fend off competition from the U.S. and Europe to supply arms and nuclear energy to India.

Senate Talks Said to Advance on Consumer Unit Powers, Oversight Senate negotiators closed in on a deal for strengthening consumer financial protections, giving bank regulators a role in rule-making and enforcement, two Democratic Senate aides briefed on the talks said.

Berkowitz Gets ‘Long Leash’ at Fairholme to Pursue Mall Offer Bruce Berkowitz’s bid to help take mall owner General Growth Properties Inc. out of bankruptcy isn’t the first time the manager of the $11.2 billion Fairholme Fund has strayed from conventional mutual-fund investing.

Fed Shoulders AIG Loan Losses to Ease Sale of Unit to MetLife The Federal Reserve Bank of New York and American International Group Inc. agreed to shoulder as much as $450 million in losses tied to the insurer’s Japan real estate bets as part of the sale of a division to MetLife Inc.

P&G’s McDonald Pins Growth on Closer Shave Than Mumbai Barber Procter & Gamble Co.’s Bob McDonald is going undercover in Latin America next week.

Obama Says Curbing Waste, Abuse Will Help Fund Health-Care Plan President Barack Obama made his case for an overhaul of the U.S. medical system to Missouri voters, emphasizing his efforts to curb waste and fraud in government health programs.

Damon Searches for Chemical Weapons; Wedding Follies: Movies What manic thriller directed by Paul Greengrass stars Matt Damon as an obsessed man caught in a web of political intrigue, gunplay and spine-tingling chases?

Trade Deficit in U.S. Probably Widened as Imports Increased The U.S. trade deficit probably widened in January for a third month as imports grew faster than exports, pointing to a rebound in global economic growth, economists said before a report today.

Economy in U.S. to Cool as Drivers of Growth Shift, Survey Says 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.

Personalized Medicine Spurred by Medco’s Cost-Saving Gene Tests Medco Health Solutions Inc., the second-biggest U.S. manager of drug benefits, is encouraging doctors to use genetic tests to determine whether drugs will work for particular patients -- saving money and reducing harm caused when prescriptions are wrong.

Naked Swaps Crackdown in Europe Rings Hollow Without Washington European politicians and regulators could initiate a continent-wide ban on speculative trading of sovereign credit-default swaps tomorrow. Making it stick without the Americans won’t work.

Unions Map ‘Make Wall Street Play’ Blitz on Goldman, U.S. Banks AFL-CIO President Richard Trumka listened to Andres and Esteban Contreras tell how Andres moved back home to help with rent and medical care after their father lost his job and their mother had her hours cut.

Pimco’s El-Erian Says Public Finance Shock May Deepen (Update3) 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.

China Inflation, Industrial Production Accelerate (Update3) China’s inflation reached a 16- month high, industrial output climbed and new loans exceeded forecasts, adding to the case for the government to pare back stimulus measures.

Yen, Dollar Rise as China CPI at 16-Month High; Aussie Weakens The yen and dollar rose versus their major counterparts after Chinese reports on inflation, factories and loans fueled concern the government will act to damp growth, boosting demand for the lowest-yielding currencies.

Shinsei Said to Mull Canceling Merger, Selling Shares (Update2) Shinsei Bank Ltd., the Japanese lender backed by U.S. investor Christopher Flowers, may raise 75 billion yen ($830 million) selling shares instead of merging with Aozora Bank Ltd., said a person with direct knowledge of the matter.

Nomura’s Wang, Feldkamp Leave as Former Lehman Managers Depart Nomura Holdings Inc.’s vice chairman of China investment banking and head of equity capital markets for Asia outside Japan left the Tokyo-based company, according to people with knowledge of the departures.

JR East Sells Bonds at Narrowest Spread Since 2006 (Update1) East Japan Railway Co., the nation’s largest rail operator, raised 15 billion yen ($166 million) from 10-year bonds priced at the narrowest yield spread over benchmarks in four years.

Asia’s Billionaires Set World-Beating Pace, Forbes Says Asian billionaires including India’s Mukesh Ambani and Hong Kong’s Li Ka-shing increased their wealth as the region’s rich expanded their fortunes at the world’s quickest pace in the past year, Forbes magazine said.

Bank of Korea’s Lee Keeps Rate at 2% at Final Meeting (Update2) Bank of Korea Governor Lee Seong Tae kept interest rates unchanged at his final meeting, leaving it to his successor to address political pressure to stoke economic growth.

Thai Rice Output May Drop on Drought as El Nino Parches Region Rice production in Thailand, the world’s largest exporter, may decline as drier-than-normal weather curbs yields, adding to signs that an El Nino may be hurting farm output across the region.

China’s Stocks Drop on Inflation; Automakers, Developers Fall China’s stocks fell for a second day, led by automakers and developers, after inflation accelerated and new loans exceeded forecasts, boosting the prospect for higher interest rates.

Buy Asia Stocks Before ‘Green’ Light, Goldman Says (Update1) Investors should buy Asian stocks outside Japan after valuations dropped and before sentiment strengthens further, Goldman Sachs Group Inc. said.

Korea’s NHN Said to Be Among Livedoor’s Final Bidders (Update1) NHN Corp., the owner of South Korea’s biggest Web search engine, is among the final bidders for LDH Corp.’s Livedoor Co. Internet unit, three people with knowledge of the matter said.

Thailand Bonds May Rally as Protests Loom, ING Says (Update1) 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.

Chavez ‘Crosshairs’ No Challenge as Mendoza’s Fortune Jumps 75% Venezuelan President Hugo Chavez’s “21st Century Socialism” is failing to rein in billionaire Lorenzo Mendoza.

Brazil Central Banker Meirelles May Face High Court Tax Probe 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.

Australian Employers Add Fewest Jobs in Six Months (Update2) Australian employers added the fewest jobs in six months in February, suggesting the central bank has room to slow the pace of future interest-rate increases.

Gates Appeals to Saudi King on Tougher Sanctions Against Iran U.S. Defense Secretary Robert Gates sought Saudi Arabia’s help in rallying support for tougher United Nations sanctions against Iran and urged other Persian Gulf partner nations to strengthen their militaries.

China Auto Prices Rise Most in at Least Four Years (Update1) China’s vehicle prices rose the most in at least four years in February as consumers took advantage of government incentives to buy new cars and trucks.

China February New Lending Falls, Easing Risk of Asset Bubbles China’s lending fell in February after the government told banks to limit credit growth and raised reserve requirements.

Nomura Taps David Puritz of Deutsche Bank as Convertibles Head 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.

Asian Stocks Rise on Outlook for Japan; Mitsui & Co. Advances Asian stocks rose, sending the MSCI Asia Pacific Index toward a seven-week high, on speculation Japan’s economy is recovering and that increased demand will allow commodity producers to boost prices.

Never Trust a Naked Massa in a Tickle Fight: Margaret Carlson Republican-on-Democrat malice hardly merits a headline after “You lie” was shouted at the president during a joint address to Congress.

Greece Lifts a Page From Citigroup’s Playbook: Jonathan Weil Is it too much to ask for the world’s titans of government and finance to speak credibly when they open their mouths? Some of them sure seem to think so, judging by the latest news from the financial-crisis front.

China Tightens Land Purchase Rules, Bans Villas (Update1) China is requiring a down payment for land purchases equal to 50 percent of a plot’s price and prohibited the supply of land for villas as the government sought to increase affordable housing.

Japan’s Economy Grows 3.8%, Less Than First Estimated (Update3) Japan’s economy expanded less than initially estimated in the fourth quarter as companies pared spending and stockpiles as deflation deepened.

Japanese Stocks Rise on Economic View Report; Mitsui Gains Japanese stocks advanced after the Nikkei newspaper reported the government may lift its outlook on the nation’s economy and on speculation iron ore prices will increase as demand grows.

Brazil Central Banker Meirelles May Face Tax Probe (Update1) Brazil’s Prosecutor General has asked the Supreme Court to go ahead with an investigation into alleged tax crimes by Central Bank President Henrique Meirelles, according to the high court’s docket posted on its Web site.