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Metals, Oil Fall on Surge in China Inflation; Asia 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.

BP Pays $7 Billion for Devon Assets in Brazil, Gulf of Mexico BP Plc, Europe’s largest oil and gas company, will pay Devon Energy Corp. $7 billion in cash for assets in Brazil, the Gulf of Mexico and Azerbaijan.

Bond Spreads at 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.

Devon Energy Agrees to Sell Assets to BP for $7 Billion Devon Energy Corp. said it agreed to sell assets in the Gulf of Mexico, Brazil and Azerbaijan to BP Plc for $7 billion.

Nomura Departures Rise as Former Lehman Bankers Leave (Update1) 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.

SNB May Keep Main Rate Near Zero as Economy Recovers (Update1) The Swiss central bank may leave its benchmark interest rate near zero today to bolster a recovery from the worst recession in more than three decades.

Copper May Gain to Record on Chinese Demand, Sucden Forecasts Copper may rise to a record this year, possibly surpassing $9,000 a metric ton, driven by larger- than-expected imports by China and a revival of demand in Europe and the U.S., according to Sucden Financial Ltd.

China’s Inflation Quickens as Industrial Production Climbs 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.

Union Favors Lebanon, South Africa Bonds on Local Bank Support Union Investment Privatfonds, Germany’s third-largest money manager, favors bonds sold by developing nations with active local investors in foreign debt on concern the global new-issues market will be “overcrowded.”

China Tightens Land Purchase Rules, Bans Villas (Update2) 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.

Korean Air, Asiana Fined for Blocking Budget Carriers (Update1) Korean Air Lines Co. and Asiana Airlines Inc., the nation’s two biggest carriers, were fined a combined 11 billion won ($9.7 million) for anticompetitive actions against start-up budget carriers.

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.

Food Recalls From Salmonella May Increase to 10,000 Products 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.

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.

Nissan’s Ugly Cube Exudes Gen Y Dorky Coolness: Jason H. Harper Man is that thing ugly. Not just homely -- willfully, thoughtfully, ugly. I kind of like it.

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.

Dollar Will Retain Reserve Role If Markets Stay Sound, S&P Says The dollar will retain its status as the world’s reserve currency as long as U.S. financial markets are sound and government spending is sustainable, Standard & Poor’s said.

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.

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.

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.

Japan, Korea May Face Wheat Disruption From U.S. River Closures Japan, the biggest buyer of U.S. wheat, may stockpile the grain or seek alternative supplies before the U.S. closes its largest export gateway later this year for a three-month revamp, potentially delaying shipments.

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.