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Biden Says Israel, Palestinians to Answer for Acts (Update2) Vice President Joe Biden said Israel and the Palestinians will be held accountable for actions jeopardizing peace efforts, such as Israeli approval of a plan for new homes in east Jerusalem.

House Democrats Announce Ban on Funneling Earmarks to Companies House Democrats announced they are banning so-called earmarks for defense contractors, energy firms and other private companies in an election-year attempt to crack down on the much-criticized funding process.

N.Y. City Wins Right to ‘Tavern on the Green’ Name (Update1) New York City owns the right to the trade name “Tavern on the Green” for the 76-year-old restaurant in Central Park, a judge ruled.

Ex-Cazenove Partner Convicted in Insider Trading Case (Update2) A former partner at JPMorgan Chase & Co.’s Cazenove unit was convicted of insider trading by a London jury, the third such case won by the Financial Services Authority in the last year.

U.S. Stocks Trim Gains Amid Concern Over Chinese Inflation U.S. stocks trimmed gains as the Standard & Poor’s 500 Index approached its high of the year for a second day and speculation grew that accelerating inflation will force China to raise interest rates.

Geely May Need at Least $1.4 Billion to Revive Volvo (Update1) 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.

Bill Gates Urges More U.S. Spending on Global Health (Update1) Microsoft Corp. co-founder Bill Gates urged U.S. lawmakers to spend more on global health than the $9.7 billion President Barack Obama proposed in his fiscal 2011 budget.

N.J.’s Christie May Propose Cutting Budget to $25 Bln (Update1) New Jersey Governor Chris Christie may propose a budget that is as much as 14 percent smaller than the current spending plan and includes cuts to property tax rebates and school aid, according to two people with knowledge of budget talks.

Obama Joblessness Turns on 300,000 March Payrolls (Update1) The U.S. may add as many as 300,000 jobs in March, the most in four years, setting the stage for what some economists say will be sustained employment gains.

Kinetic Concepts Wins Smith & Nephew Patent Case (Update1) Smith & Nephew Plc infringed Kinetic Concepts Inc.’s technology used to treat severe wounds, a federal jury said.

Defaults Signal Bursting Muni Junk Bubble After Surge (Update2) Investors in search of better returns poured $7.8 billion into high-yield municipal bond funds last year, pushing assets to a two-year high. They may start experiencing losses as early as this year as default risks grow.

U.S. Stocks Trim Gain, Dow Average Falls, Led by Consumer Shares U.S. stocks trimmed gains as declines in consumer-staples and industrial companies tempered an earlier rally led by financial shares.

Obama’s Health-Care Push Challenged By Business Group (Update1) President Barack Obama is facing a renewed push against his health-care legislation as a coalition of business groups plans to spend as much as $1 million a day on advertisements to pressure lawmakers into opposing the bill.

Tullett Prebon Says It’s in Talks About Possible Sale (Update4) Tullett Prebon Plc, the British inter-dealer broker led by Terry Smith, said it’s in talks about a possible sale of the company.

Citigroup Selling TruPS After Repaying Bailout: Credit Markets Citigroup Inc., seeking 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.

JPMorgan Taking on Agent Role Said to Mean New Fees for Lenders JPMorgan Chase & Co. has taken over as administrative agent for Huntsman Corp., which may produce $3,500 for the bank each time another dealer handles a trade involving the chemical company’s $1.52 billion term loan.

Stocks Climb as Treasuries, Yen Retreat on Economic Optimism Stocks rose, erasing the 2010 loss for a gauge of emerging markets, while Treasuries and the yen fell as data on Chinese exports and U.S. wholesale inventories bolstered optimism the global economy is strengthening.

Ex-New York Pension Fund Officer Pleads Guilty (Update2) David Loglisci, former chief investment officer of the New York state pension fund under former comptroller Alan Hevesi, pleaded guilty in connection with corruption at the fund.

Unemployment Decreased in Nine U.S. States in January (Update3) The unemployment rate decreased in nine U.S. states in January and climbed in 30, signaling the thawing of the labor market is not broad-based.

Greek Crisis Is Over, Rest of Region Safe, Prodi Says (Update3) The worst of Greece’s financial crisis is over and other European nations won’t follow in its path, said former European Commission President Romano Prodi.

Lula Asks Obama to ‘Quickly’ End Cotton ‘Fighting’ (Update1) Brazilian President Luiz Inacio Lula da Silva asked U.S. President Barack Obama to “quickly” negotiate the end to a trade dispute over cotton subsidies that led him to raise tariffs on over 100 U.S. goods this week.

Pelosi Says Democrats Didn’t Push Massa to Resign (Update1) House Speaker Nancy Pelosi dismissed claims by former Democratic Representative Eric Massa that he was pressured to leave Congress because of his opposition to health-care legislation.

Axcel Says IPO of Jeweler Pandora May Be ‘Preferred Exit’ Axcel A/S said selling a stake in jeweller Pandora through an initial public offering may be the “preferred exit” for the Danish private-equity firm.

Len Blavatnik Said to Seek as Much as 15% Stake of New Lyondell Billionaire Len Blavatnik, who controlled LyondellBasell Industries AF before it went bankrupt, is seeking a 15 percent equity stake in the reorganized company, according to a person with knowledge of the transaction.

Terra Industries Tells Yara That CF Bid Is Superior (Update2) Terra Industries Inc., the target of a bidding war, told suitor Yara International ASA that a $4.68 billion offer from fertilizer producer CF Industries Holdings Inc. is superior and asked for a counterproposal.

Hedge Funds Lose Money Even With Euro, Pound Tumbles (Update1) Hedge funds that trade currencies are taking hits from politicians casting them as speculators out to sink the euro and push Greece into insolvency. They are also losing money.

Sex Life Ends at 70 as Health Declines, Study Says (Update1) The average person’s sex life ends by the age of 70, according to a report published today in the British Medical Journal.

Dubai Made Progress in Debt Talks, U.K. Minister Says (Update2) Dubai World, the state-owned holding company seeking to renegotiate terms on $26 billion of debt, made “some progress” in talks with creditors, U.K. Trade Minister Mervyn Davies said.

Argentine Senate to Oust Central Banker, Morales Says (Update1) Argentina’s Senate tomorrow will reject Mercedes Marco del Pont’s appointment as president of the central bank after she transferred $6.6 billion of reserves to the Treasury, said opposition Senator Gerardo Morales.

LBO Firms Can’t Spend $503 Billion as Deadlines Loom (Update1) Buyout funds sitting on half a trillion dollars committed by investors may need more than a decade to put the money to work if mergers and acquisitions continue at the current pace.

MetLife Expands Beyond ‘Slow Growth’ U.S., CEO Says (Update1) MetLife Inc., the insurer spending $15.5 billion to buy an overseas unit from American International Group Inc., said lower growth in the U.S. market is prompting expansion abroad.

Spence Says U.S. Recovery Will Take ‘Several Years’ (Update1) The U.S. faces an extended recovery from the recession even after the government infusion of cash into stimulus programs and the banking system, said Andrew Michael Spence, a Nobel laureate in economics.

AIG ‘Money in Door’ Deals Reap $3.2 Billion Bond Gain (Update2) American International Group Inc. bondholders reaped at least $3.2 billion after the bailed-out company announced deals to sell its two largest non-U.S. life insurance divisions for $51 billion.

Wholesale Inventories in U.S. Fell 0.2% in January, Sales Jump Inventories at U.S. wholesalers unexpectedly fell in January for a second month, signaling companies had difficulty keeping pace with demand.

Baltic Trading’s IPO Raises $228 Million at Low End (Update1) Baltic Trading Ltd., the New York- based shipping company formed to operate dry-bulk cargo vessels, raised $228 million in its initial public offering after selling shares at the low end of its price range.

Google CEO Says Something Will Happen Soon With China (Update2) Google Inc., in talks with China after saying it will stop censoring Internet search results there, said the discussions will yield results soon.

WellPoint CFO Says California Rates a ‘Preview’ of Obama Plan WellPoint Inc.’s plan to raise rates for some California customers by 39 percent, a rallying point for Democrats seeking a health overhaul, is a preview of the higher prices Americans will face if the proposal succeeds, the insurer’s chief financial officer said.

ECB’s Weber Says Volcker Rule Has ‘Significant’ Shortcomings European Central Bank council member Axel Weber said the so-called “Volcker Rule” proposal to forbid banks from engaging in proprietary trading has “significant” shortcomings.

Hurricane Season Poses ‘Above-Normal’ Threat, AccuWeather Says The 2010 Atlantic hurricane season will be more active than last year’s and poses an “above- normal” threat to the U.S. Gulf and East coasts, AccuWeather Inc. forecasters said today.

Bernstein Said to Hire Zanardo for Bank Research (Update1) Sanford C. Bernstein & Co. hired Keefe, Bruyette & Woods’ analyst Marcello Zanardo to head its European banking equity research team in London, according to two people familiar with the situation.