U.S.

JPMorgan, Citigroup Helped Cause Lehman Illiquidity, Examiner Report Says JPMorgan Chase & Co. and Citigroup Inc. helped cause the collapse of Lehman Brothers Holding Inc. by demanding more collateral and changing guarantee agreements, a bankruptcy examiner said today in a report.

U.S. Stocks Gain as Health Care, Banks Send S&P 500 to Highest Since 2008 U.S. stocks rose, sending the Standard & Poor’s 500 Index to the highest level since October 2008, as Citigroup Inc. led a bank rally and investors speculated that health-care reform will be harder to pass.

Dodd Ends Talks on Financial Overhaul, Says Bill to Include Corker's Ideas Senator Christopher Dodd, who today ended three weeks of talks with Republican Bob Corker on legislation to overhaul financial regulations, said elements they worked out will be in the bill he introduces next week.

Trade Deficit in U.S. Unexpectedly Shrinks as Oil, Automobile Imports Drop The trade deficit in the U.S. unexpectedly narrowed in January as imports fell for the first time in five months, indicating demand is cooling following the fastest pace of growth in six years.

GMAC's Chief Carpenter Said to Get $9 Million Stock Compensation, No Cash Michael Carpenter, GMAC Inc.’s chief executive officer, will get a 2010 pay package of about $9 million entirely in stock, and some or all won’t vest until later years, according to a person with direct knowledge of the matter.

Apax, Private-Equity Firms Say Retail LBOs Return as Credit Freeze Abates Private-equity firms looking to buy retail and consumer companies said they’re now able to finance deals and pay reasonable prices after the credit crisis and global recession triggered a buyout slump.

Latin America

Chavez Outdone by Billionaire Mendoza as Wealth Soars Amid Takeover Threat Venezuelan President Hugo Chavez’s “21st Century Socialism” is failing to rein in billionaire Lorenzo Mendoza.

Brazil Recovery and Record Retail Surge Boost Chance of Interest Rate Hike Brazil’s fastest economic expansion in two years and a record jump in retail sales may prompt policy makers to start raising interest rates as early as next week.

Argentina's Biggest Agricultural Producer Tejar Weighs U.S. IPO on Demand El Tejar SA, Argentina’s largest agricultural producer, is weighing an initial public offering in New York to tap rising investor demand for farming assets.

Morgan Stanley, Repsol, Bid to Supply LNG to Argentina After Fuel Shortage Repsol YPF SA and Morgan Stanley’s commodities unit are among six companies bidding to supply liquefied natural gas to Argentina from May to September.

Vale Plans Its First Sale of Euro-Denominated Bonds Amid Expansion Drive Vale SA, the world’s biggest iron- ore producer, is seeking to sell its first bonds in euros amid plans to expand.

Venezuela Bolivar May Sink as Low as 9 Per Dollar This Year, Barclays Says Venezuela’s bolivar may fall as low as 9 per dollar in the “worst scenario” as the government refrains from selling U.S. currency in the unregulated market to preserve foreign reserves, Barclays Plc said.

Exclusive

Chavez Outdone by Billionaire Mendoza as Wealth Soars Amid Takeover Threat Venezuelan President Hugo Chavez’s “21st Century Socialism” is failing to rein in billionaire Lorenzo Mendoza.

Brown Tries to `Perversely' Benefit From U.K. Relapse Risk Before Election Gordon Brown is trying to turn the threat of a double-dip U.K. recession into an advantage.

Solar Prospectors Chase `Gold Mine' Deals in Chinese, Israeli Subsidies Olivier de Vergnies quit managing family fortunes at Dexia Private Bank (Switzerland) Ltd. in 2008 to run a New York start-up at 100 Wall St. that’s trying to tap riches in solar energy.

Chrysler in Hibernation Means Marchionne May Have to Wait on Fiat Spinoff Fiat SpA, the Italian carmaker that helped Chrysler Group LLC emerge from bankruptcy, may wait to turn around the U.S. business before deciding on a share sale or spinoff for its automotive division.

Red-Coral Rescue Plans Endanger Italian Jewelry Makers of Torre del Greco The people of Torre del Greco, 10 miles south of Naples, have lived off the red corals found in the Mediterranean Sea for more than two millennia. A proposal to list the species as endangered may push the seaside town’s $217 million-a-year coral industry into extinction.

Triple Whammy of Costs, Taxes, Inflation Sinks Stock Returns: Chart of Day U.S. stock investors made far less in the past half century than the Standard & Poor’s 500 Index’s performance would suggest, according to David Bianco, chief U.S. equity strategist at Bank of America Merrill Lynch.