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Asia Stocks Erase Gains; Metals, Oil Dip on China Inflation Asia’s stock benchmark erased gains of as much as 0.6 percent, U.S. stock futures declined, and copper and oil fell after China’s inflation reached a 16-month high and new loans exceeded forecasts, adding to prospects the government will curb growth in the world’s third-largest economy.

Nomura’s Wang, Feldkamp Leave as Former Lehman Managers Depart Nomura Holdings Inc.’s vice chairman of China investment banking and head of equity capital markets for Asia outside Japan left the Tokyo-based company, according to people with knowledge of the departures.

JR East Sells Bonds at Narrowest Spread Since 2006 (Update1) East Japan Railway Co., the nation’s largest rail operator, raised 15 billion yen ($166 million) from 10-year bonds priced at the narrowest yield spread over benchmarks in four years.

Asia’s Billionaires Set World-Beating Pace, Forbes Says Asian billionaires including India’s Mukesh Ambani and Hong Kong’s Li Ka-shing increased their wealth as the region’s rich expanded their fortunes at the world’s quickest pace in the past year, Forbes magazine said.

China Inflation, Industrial Production Accelerate (Update2) China’s inflation reached a 16- month high in February, industrial output climbed and new loans exceeded forecasts, adding to the case for the government to pare back stimulus measures.

Yen Strengthens After China Reports Show Inflation Quickened The yen rose after Chinese economic reports fueled concern the government will introduce measures to temper growth, sparking demand for Japan’s currency as a refuge.

Bank of Korea’s Lee Keeps Rate at 2% at Final Meeting (Update2) Bank of Korea Governor Lee Seong Tae kept interest rates unchanged at his final meeting, leaving it to his successor to address political pressure to stoke economic growth.

Thai Rice Output May Drop on Drought as El Nino Parches Region Rice production in Thailand, the world’s largest exporter, may decline as drier-than-normal weather curbs yields, adding to signs that an El Nino may be hurting farm output across the region.

China’s Stocks Drop on Inflation; Automakers, Developers Fall China’s stocks fell for a second day, led by automakers and developers, after inflation accelerated and new loans exceeded forecasts, boosting the prospect for higher interest rates.

Buy Asia Stocks Before ‘Green’ Light, Goldman Says (Update1) Investors should buy Asian stocks outside Japan after valuations dropped and before sentiment strengthens further, Goldman Sachs Group Inc. said.

Korea’s NHN Said to Be Among Livedoor’s Final Bidders (Update1) NHN Corp., the owner of South Korea’s biggest Web search engine, is among the final bidders for LDH Corp.’s Livedoor Co. Internet unit, three people with knowledge of the matter said.

Thailand Bonds May Rally as Protests Loom, ING Says (Update1) Thailand’s government bonds, the second-best performers in Asia this year, will extend gains as investors seek safety in fixed-income assets amid protests against Prime Minister Abhisit Vejjajiva, said ING Groep NV.

Chavez ‘Crosshairs’ No Challenge as Mendoza’s Fortune Jumps 75% Venezuelan President Hugo Chavez’s “21st Century Socialism” is failing to rein in billionaire Lorenzo Mendoza.

Brazil Central Banker Meirelles May Face High Court Tax Probe Brazil’s Prosecutor General asked the Supreme Court to pursue an investigation into alleged tax crimes by Central Bank President Henrique Meirelles, according to the high court’s docket posted on its Web site.

Australian Employers Add Fewest Jobs in Six Months (Update2) Australian employers added the fewest jobs in six months in February, suggesting the central bank has room to slow the pace of future interest-rate increases.

Gates Appeals to Saudi King on Tougher Sanctions Against Iran U.S. Defense Secretary Robert Gates sought Saudi Arabia’s help in rallying support for tougher United Nations sanctions against Iran and urged other Persian Gulf partner nations to strengthen their militaries.

Shinsei Said to Mull Canceling Merger, Selling Shares (Update1) Shinsei Bank Ltd., the Japanese lender backed by U.S. investor Christopher Flowers, may abandon its merger with Aozora Bank Ltd. and instead raise 75 billion yen ($830 million) selling shares, said a person with direct knowledge of the matter.

China Auto Prices Rise Most in at Least Four Years (Update1) China’s vehicle prices rose the most in at least four years in February as consumers took advantage of government incentives to buy new cars and trucks.

China February New Lending Falls, Easing Risk of Asset Bubbles China’s lending fell in February after the government told banks to limit credit growth and raised reserve requirements.

Nomura Taps David Puritz of Deutsche Bank as Convertibles Head Nomura Holdings Inc., Japan’s biggest brokerage, hired David Puritz, head of U.S. convertible bond trading at Deutsche Bank AG, to run the business in New York, two people familiar with the situation said.

Asian Stocks Rise on Outlook for Japan; Mitsui & Co. Advances Asian stocks rose, sending the MSCI Asia Pacific Index toward a seven-week high, on speculation Japan’s economy is recovering and that increased demand will allow commodity producers to boost prices.

Never Trust a Naked Massa in a Tickle Fight: Margaret Carlson Republican-on-Democrat malice hardly merits a headline after “You lie” was shouted at the president during a joint address to Congress.

Pimco’s El-Erian Says Public Finance Shock May Deepen (Update2) Mohamed A. El-Erian, whose company runs the world’s biggest mutual fund, said deteriorating public finances around the world may affect the global economy more than is currently realized.

Greece Lifts a Page From Citigroup’s Playbook: Jonathan Weil Is it too much to ask for the world’s titans of government and finance to speak credibly when they open their mouths? Some of them sure seem to think so, judging by the latest news from the financial-crisis front.

China Tightens Land Purchase Rules, Bans Villas (Update1) China is requiring a down payment for land purchases equal to 50 percent of a plot’s price and prohibited the supply of land for villas as the government sought to increase affordable housing.

Japan’s Economy Grows 3.8%, Less Than First Estimated (Update3) Japan’s economy expanded less than initially estimated in the fourth quarter as companies pared spending and stockpiles as deflation deepened.

Japanese Stocks Rise on Economic View Report; Mitsui Gains Japanese stocks advanced after the Nikkei newspaper reported the government may lift its outlook on the nation’s economy and on speculation iron ore prices will increase as demand grows.

Brazil Central Banker Meirelles May Face Tax Probe (Update1) Brazil’s Prosecutor General has asked the Supreme Court to go ahead with an investigation into alleged tax crimes by Central Bank President Henrique Meirelles, according to the high court’s docket posted on its Web site.

BP Said to Be in Talks for Devon Assets in $5 Billion Deal BP Plc, Europe’s largest oil and gas company, is in talks to buy Devon Energy Corp.’s Brazilian and Gulf of Mexico oil assets in a transaction valued at more than $5 billion, according to a person familiar with the deal.

Bollard Says N.Z. Won’t Raise Rates Until Mid-Year (Update3) New Zealand’s central bank said it will wait until the middle of the year before raising interest rates as falling house prices and weak consumer spending are contributing to a slow economic recovery.

U.S. Governors Urge Congress to Stop EPA Carbon Rules (Update3) A group of mostly Republican U.S. governors today urged federal lawmakers to stop the Obama administration from regulating greenhouse gases under an existing law.

Ex-Bank of America Officials Win on Some SEC Claims (Update1) Two former Bank of America Corp. executives won dismissal of claims by securities regulators that they could be held liable for allegedly false statements made to clients of the bank’s Columbia Management Group unit.

CapitaLand Says Boom in China Property Not a Bubble (Update1) CapitaLand Ltd., which has Chinese properties valued at more than $14 billion, said demand in China is “strong” and the real estate boom can’t be called a bubble.

World Currency Trade Rose 17% to $2.7 Trillion a Day, RBA Says Currency trading increased between April and October 2009 to $2.7 trillion a day, the first such growth since the six months to April 2008, the Reserve Bank of Australia said today, citing data from five major foreign exchange markets.

Democrats at Odds on Banning Earmarks to Companies (Update2) Democrats are at odds over an election-year proposal to ban so-called earmarks providing federal money to defense contractors, energy firms and other private companies.

Senate Passes $138 Billion Bill Extending Jobless Aid (Update2) The U.S. Senate approved a $138 billion measure that would extend unemployment benefits and provide additional aid to states in lawmakers’ second major effort this year to boost the economy.

Goldman Earned $55.7 Million From Build America Fees (Update3) Goldman Sachs Group Inc., the most profitable securities firm in Wall Street history, has made $55.7 million from the sale of $36.4 billion of Build America Bonds, about a third of the fees it earned from its municipal business, it said in response to queries from Iowa Senator Charles Grassley.

Grapevine Moth Invades Napa Valley, Threatens California Crop California grape growers have a new threat to deal with this spring, in addition to perennial concerns about frost and heat: The European grapevine moth has invaded Napa Valley, one of the top U.S. wine-producing regions.

Top London Chefs Compete for Bids to Cook in Homes: Food Buzz Twenty leading chefs helped raise a total of 400,000 pounds ($600,000) for leukemia care when they prepared dinner and auctioned off their services for private dining at the annual Leuka charity dinner on March 8 in London.

Goldman Bankers Ride Merry-Go-Round With West Pointers: Books The bankers of Goldman Sachs Group Inc. may be in for a surprise: They have more in common with West Point cadets than they know.