U.S.

Bernanke Says Dodd Plan to Limit Oversight Hurts Fed Ability to Spot Risks Federal Reserve Chairman Ben S. Bernanke criticized a proposal in the Senate to limit the central bank’s supervision to the largest financial firms, saying it would undercut its ability to spot financial risks.

Teva Said to Beat Pfizer, Actavis in $4.8 Billion Ratiopharm Acquisition Teva Pharmaceutical Industries Ltd. is close to an agreement to buy Ratiopharm GmbH for about 3.5 billion euros ($4.78 billion), ending a nine-month battle for Germany’s second-biggest maker of generic medicines, two people familiar with knowledge of the sale said.

Hartford to Raise $2.25 Billion in Stock Sale, Repay Government for Rescue Hartford Financial Services Group Inc., the bailed-out insurer that hired a new chief executive officer last year, said it plans to raise as much as $2.25 billion by selling shares to repay the U.S. government rescue.

Cost of Living in U.S. Probably Cooled as Prices of Gasoline, Rents Eased The cost of living in the U.S. probably rose at a slower pace in February, restrained by lower gasoline prices and a stagnant home-rental market, economists said before a government report today.

Regions Financial CEO Ritter Forfeits $12.3 Million By Retiring This Year Regions Financial Corp. Chief Executive Officer Dowd Ritter, who’s stepping down after two straight annual losses, is giving up $12.3 million in promised compensation by retiring this year.

Schumer to Push Higher Limit for Small-Business Lending by Credit Unions Senator Charles Schumer plans a push for raising the federal limit on credit unions’ small- business loans as a way to help stimulate economic growth and hiring.

Latin America

`Politician' Meirelles Spurs Record Brazil Trading as Interest Rates Held Brazilian central bank President Henrique Meirelles fueled record trading in short-term interest rate futures as investors bet -- correctly -- that he would hold off raising interest rates yesterday ahead of his decision on whether to run for elected office.

Brazil's Renova Shelves IPO as OSX Prepares Scaled-Back $1.9 Billion Offer Renova Energia SA became the latest Brazilian company to delay or scale back an initial share sale as billionaire Eike Batista’s OSX Brasil SA prepares to raise as much as 3.31 billion reais ($1.9 billion) through a first-time offering today.

BRICs Rally Slows as Highest Valuations Since 1995 Undermine Record Flows The combination of record mutual fund inflows and the fastest economic growth are failing to lift shares in the largest developing nations with valuations at the highest level versus advanced countries since at least 1995.

Chile Will Probably Keep Lending Rate at Record Low 0.5% to Fuel Recovery Chile’s central bank will probably keep its benchmark interest rate at a record low to help fuel the economy’s recovery from the fifth-biggest earthquake in a century.

Emerging-Market Stocks Post First Drop in Three Days on Valuation Concern Emerging-market stocks snapped a two-day rally as valuations in the largest developing nations added to concern that the advance may have outpaced the prospect for earnings growth.

Exclusive

Erdogan Thwarting Judges Amid Army Probes Fails to Upset Turkey's Markets Prime Minister Recep Tayyip Erdogan, whose government is already backing an investigation of senior Turkish military officers, this month will seek curbs on a judiciary that has teamed with the army to oppose his Islamist-rooted party.

Zapatero's Campaign to Avoid Greek Deficit Fate Hobbled by Spanish Regions Prime Minister Jose Luis Rodriguez Zapatero’s drive to show Spain can avoid Greece’s fate is being held hostage by the country’s regional governments.

Giorgio Armani Said to Postpone Hotel in Dubai Tower by More Than a Month Giorgio Armani’s first hotel, due to open in Dubai’s Burj Khalifa today, will be delayed by more than a month, said two people with knowledge of the plan.

Malone's Liberty, Elliott Said to Drop Out of Metro-Goldwyn-Mayer Bidding John Malone’s Liberty Media Corp. and hedge fund Elliott Management Corp. have decided not to bid for the Metro-Goldwyn-Mayer Inc. movie studio, according to people with knowledge of the bidding.

Ford Chief Mulally Says Talks to Sell Volvo Cars Unit to Geely Continuing Ford Motor Co. Chief Executive Officer Alan Mulally said talks to sell the automaker’s Volvo unit to China’s Zhejiang Geely Holding Group Co. are proceeding, rebutting local media reports the deal could be delayed.

Coal Beats Solar as Analysts Favor Peabody Amid Shrinking Green Subsidies Wall Street’s contribution to the debate on how to curb global warming: Buy coal, sell solar.