Bloomberg:
- Treasuries are declining for the first time in four days as Federal Reserve Chairman Ben Bernanke said the economy may strengthen by mid-year.
- Shares of Fremont General Corp., the third-largest provider of sub-prime US mortgages through brokers, slumped to a three-year low after the company postponed the release of fourth-quarter earnings.
- Pfizer Inc.(PFE) and Merck & Co.(MRK) reported positive findings on experimental drugs that promise to spur a change in HIV treatment, helping thousands of patients who have stopped responding to older medicines.
- The perceived risk of owning low-rated sub-prime mortgage bonds lessons for the first time in nine days, derivatives suggest, after Fed Reserve Chairman Ben S. Bernanke said the overall home loan market is healthy.
- Yesterday’s sell-off in US equities presents a “good buying opportunity” given the outlook for economic and earnings growth, according to UBS AG strategists.
- Copper prices fell the most in more than three weeks on the London Metal Exchange and zinc posted the largest drop since Feb. 2, on concerns over a further slowing of demand.
- Gold is falling another $14.50/oz. as speculators anticipate slowing demand from emerging economies and lower inflation.
Wall Street Journal:
- American Family Mutual Insurance Co., the nation’s 10th largest car insurer, plans to offer some of its customers camera that can record driving by teenagers.
- Exchange-traded funds following stocks in Asia were hurt yesterday after Chinese markets lost about 9% on concerns about slower economic growth.
- The US FDA advisory panel may approve a heart monitor capable of being checked by the Internet, the first in a coming wave of implantable sensors.
NY Times:
- A scientific study on stem cells that concluded cells taken from an adult could change into any of the body’s major tissue types is being re-evaluated after inconsistent data was discovered.
News-Press of Fort Myers:
- A Florida legislator has proposed a bill that would prohibit government agencies and officials from using the phrase “illegal alien” when referring to a person that broke the law to gain entrance into the US. Senator Frederica Wilson, a Democrat who represents Miami, said she considers an alien to be from outer space.
Etemaad:
- Several Iranian parliamentary members criticized a recent comment by President Mahmoud Ahmadinejad comparing the country’s nuclear program to a “train with no brakes,” citing lawmakers.
El Universal:
- Shortages in Venezuela of antibiotics and medicines for diabetes and high blood pressure are growing because of government delays in approving requests for dollars to pay for imports, citing Edgard Salas, president of the Venezuelan Pharmaceutical Assoc.
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