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Financial News

China Inflation, Production Accelerate, Adding Pressure for Stimulus Exit 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.

BP to Pay $7 Billion for Devon's Assets in Gulf of Mexico, Brazil, Caspian BP Plc, Europe’s largest oil and gas company, 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.

Metals, Oil Fall on China Inflation Surge; Yen, Dollar, Asian Stocks Rise Metals and oil dropped, while the yen and dollar strengthened, after reports on Chinese inflation, factories and loans raised concerns the government would take steps to brake growth. Asian stocks advanced, led by Japanese shares, on speculation the economy is recovering.

Naked Swaps Crackdown Threat in Europe Rings Hollow Without Obama Backing 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.

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.

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.

General News

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

Food Recalls From Salmonella May Rise to 10,000 in Industry 'Wake-Up Call' Salmonella contamination at a Nevada food-flavoring plant may trigger the recall of as many as 10,000 products, according to a Consumers Union scientist.

Abbas Demands Israel's Rejection of Jerusalem Building Plans Before Talks Palestinian Authority President Mahmoud Abbas told the U.S. that holding indirect talks with Israel “will be difficult” unless Israeli plans to construct new homes in east Jerusalem are revoked.



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