U.S.

Obama Proving Pessimists Wrong as Rebounding Economy Converges With Stocks The political consensus may be that President Barack Obama’s handling of the economy has been weak. The judgment of money in all its forms has been overwhelmingly positive, and that may be the more lasting appraisal.

Senate Said to Weigh Setting Up $50 Billion Fund to Wind Down Failed Firms Senate negotiators are closing in on a deal to create a $50 billion trust fund from fees on large financial firms that may include Goldman Sachs Group Inc. and Citigroup Inc. and be used to wind down failing institutions, said a Senate aide and two people familiar with the talks.

Citigroup Plans $2 Billion TruPS Sale After Repaying U.S.: Credit Markets Citigroup Inc., seeking to bolster capital after repaying bailout funds to the Treasury, is selling trust preferred securities as rising investor demand drives borrowing costs to near the lowest in almost five years.

Buyout Funds Can't Spend $503 Billion as Venture Capital Deja Vu Threatens Buyout funds sitting on half a trillion dollars committed by investors may need more than a decade to put the money to work if deals continue at the current pace.

Fed `Extended Period' Rate Pledge Criticized as Inflexible by Some on FOMC The Federal Reserve’s pledge to keep interest rates close to zero for an “extended period” has come under criticism from policy makers who say it’s restricting their room to maneuver as the economy recovers.

Abbott to Buy Facet for $27 a Share, 54% More Than Biogen's Rejected Offer Abbott Laboratories, maker of the arthritis medicine Humira, succeeded in its bid for Facet Biotech Corp. by offering 54 percent more than Biogen Idec Inc. in its rejected takeover effort.

Latin America

America Movil Proposes One-Time Dividend, Larger Stock-Buyback Program America Movil SAB, Latin America’s biggest wireless-phone carrier, proposed to pay a one-time dividend of 32 centavos a share and buy back more of its stock, even as it plans the region’s largest acquisition this year.

Mexico's February Consumer Prices Climb 0.58%, Topping Analysts' Forecasts Mexico’s consumer prices rose more than economists forecast in February as costs increased for housing, local phone service and onions.

Brazil's CSN May Spin Off Five Units to Boost Value, CEO Steinbruch Says Cia. Siderurgica Nacional SA, Brazil’s third-largest steelmaker, said it may spin off its mining, steel, energy, logistics and cement businesses. Shares rose to the highest in 20 months.

Telefonica, Vivendi, Oi Should Seek Integration in Brazil, Bernstein Says Telefonica SA, Vivendi SA and Tele Norte Leste Participacoes SA should each seek to integrate their fixed-line operations in Brazil with a local mobile-phone company, Bernstein Research said in report today.

Sell Brazil Bonds Ahead of Election, Buy Mexico Debt, Bank of America Says Bank of America Corp. recommended selling Brazil’s debt before October’s presidential election and buying Mexican dollar-denominated bonds on the outlook for a U.S. economic recovery and oil revenue.

America Movil, Empresas CMPC, Daycoval, Marisol SA: Latin Equity Preview The following companies may have unusual price changes today in Latin American trading. Stock symbols are in parentheses and share prices reflect the previous close.

Exclusive

Exxon Lowers Investment Bar, Buys Projects Previously Deemed Too Piddling Exxon Mobil Corp., BP Plc and Total SA are investing in assets that previously weren’t worth their time or money after oil-rich nations reduced access to reserves and exploration drilling faltered.

`Cinderella' Wine Valley Razed by Chile Quake Signals Bankrupt Vineyards Chile’s strongest earthquake in 50 years may bankrupt smaller winemakers after vines collapsed, casks broke apart and millions of liters were spilled, a former Goldman Sachs Group Inc. banker-turned-winemaker said.

City of London Developers to Start Skyscrapers as Rents End Two-Year Drop Brookfield Asset Management Inc., owner of a stake in the U.K.’s tallest building, is about to start constructing an even higher tower in the City of London.

Cadillac Plays Down GM Ties to Avoid Bankruptcy Stigma, Craft Own Identity Cadillac, the luxury brand General Motors Co. acquired in 1909, is distancing itself from the Detroit-based automaker to avoid the stigma of the parent company’s $50 billion U.S.-backed bankruptcy last year.

Pound's Slide to Help U.K. Outpace Euro Economies, Goldman's Nielsen Says The pound’s drop last week to a 10- month low may help the U.K. economy grow faster than the region sharing the euro, which is hobbled by budget deficits and aging populations, according to Goldman Sachs Group Inc.

Gates $44 million Ethanol Loss Before Rebound Means More Profit for Valero Ethanol, the commodity that cost Bill Gates more than $44 million the last time prices collapsed, is poised to rally as much as 20 percent as the fastest drop since 2008 spurs demand.