- US gasoline demand fell 2.7% last week, a sign that motorists are cutting back on vacation plans as pump prices touch records, a MasterCard Inc. report showed. It was the ninth consecutive week of declines form the year-earlier period.
- Hedge funds reduced their use of leverage following the turmoil in financial markets last year while holding substantial portions of their assets in cash, according to a survey. Funds reduced their borrowing last year to a leverage ratio of 2.1 from 2.3 a year earlier, consultant Greenwich Associates and Global Custodian magazine said. Hedge funds worldwide held 15% of their assets in cash as the start of 2008.
- Brazil may take control of some fertilizer mineral deposits that aren’t being fully developed in a bid to reduce the nation’s dependence on imports as prices soar.
- Copper decline in London on signs of slowing demand for imports of the metal into China, the world’s biggest user.
- Kodak(EK) Buyback May Pave Way for Merck(MRK), Ingersoll-Rand(IR).
- Hedge funds lobbying with stealth.
Dow Jones Newswires:
- Iran Buy Wheat Supplies From Canada, Russia.