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Baoshan Steel May Post 20-Fold Profit Surge on Autos, CICC Says Baoshan Iron & Steel Co., China’s biggest publicly traded steelmaker, may post at least a 20-fold profit gain for its first quarter because of strong demand from automakers, China International Capital Corp. said.

Japanese Machinery Orders Declined 3.7% in January (Update2) Japan’s machinery orders slipped in January after the biggest jump since 2000, indicating a subdued appetite among the nation’s companies to ramp up capital spending even as manufacturing passed its worst.

PCCW Says Chairman Richard Li’s Buyout Plans ‘Dead’ (Update2) PCCW Ltd., linked to a police probe following a court’s ruling that a buyout bid by Chairman Richard Li had been manipulated, said investors should consider the takeover plan as “dead.”

Maanshan Steel’s Coal Imports to Rise; Buys From BHP (Update1) Maanshan Iron & Steel Co., the second-biggest Chinese steelmaker listed in Hong Kong, will increase coking coal imports this year, adding to rising global demand that’s sent prices soaring.

Give Congress the Boot to Save Our Great Country: Caroline Baum The public is mad as hell at Washington: at the corruption, the underhanded deals, the earmarks, the sense of entitlement that comes with lifetime employment. If we don’t want to take it anymore, we can do something about it.

Liz Cheney Would Call John Adams a Terrorists’ Pal: Ann Woolner Liz Cheney, meet John Adams. Perhaps you have heard of him.

Man Wearing Mask Might Save an Unloved Sport: Scott Soshnick Here’s a question you’ve probably heard before: What, if anything, can make Americans care about hockey more than once every four years?

‘Madmen, Fools’ Would Scuttle a Recovery: David G. Blanchflower John Maynard Keynes wrote during the Great Depression that only “fools and madmen” will tell you “the path of escape is to be found in strict economy.”

Australian Economy to Expand Faster, RBA’s Lowe Says (Update2) Australia’s economy is likely to expand at or above its average pace over the next few years, stoking inflation pressures and house prices, central bank official Philip Lowe said.

Bank of Korea’s Lee May Keep 2% Rate at Final Meeting (Update1) Bank of Korea Governor Lee Seong Tae will probably keep interest rates unchanged at his final meeting as he faces “intense” political pressure to spur investment and cut unemployment.

Buy Taiwanese Stocks With China Ties, Island’s Top Fund Says Investors should buy shares of Taiwanese companies that benefit most from the island’s closer ties with China, according to the manager of Taiwan’s best- performing equities fund.

Baltic Trading Raises $228 Million in IPO at Low End (Update1) Baltic Trading Ltd., the New York- based shipping company formed to operate dry-bulk vessels, raised $228 million in its initial public offering after selling shares at the low end of its price range.

Asian Stocks Fluctuate as Oil, Cargo Rates Drop; Telstra Gains Asian stocks fluctuated as shipping lines declined after a measure of cargo-transport-rates fell, while Australia’s largest telephone company rose on speculation it will avoid a forced break-up.

Obama Spokesman Defends Court Criticism After Roberts Remarks President Barack Obama’s spokesman defended the president’s criticism of a Supreme Court decision in his State of the Union address after Chief Justice John Roberts questioned the appropriateness of the remarks.

Canon Says China May Become Top Camera Market in 2015 (Update1) Canon Inc. expects China’s camera market to become the world’s largest as early as 2015, overtaking the U.S., its head of the business said.

Senate Said to Weigh $50 Billion Fund to Wind Down Failed Firms Senate negotiators are closing in on a deal to create a $50 billion trust fund from fees on large U.S. financial firms that likely will include Goldman Sachs Group Inc. and Citigroup Inc. and be used to wind down failing institutions, said a Senate aide and two people familiar with the talks.

Pelosi Says Democrats Didn’t Pressure Massa to Leave Congress House Speaker Nancy Pelosi rejected claims by former Democratic Representative Eric Massa that he was ousted because of his opposition to health-care legislation.

Hedge Funds Returned 0.5% in February on Stock Market Recovery Hedge funds returned 0.5 percent in February, led by North American managers, as global stock markets rose on signs of recovery in corporate earnings and U.S. interest rates are likely to remain low, Eurekahedge Pte said.

Papandreou Says Obama ‘Supportive’ of Measures on Greek Crisis Greek Prime Minister George Papandreou said U.S. President Barack Obama expressed support for measures being taken to deal with Greece’s financial crisis.

Apollo Management Said to Buy Citi’s Property Unit (Update1) Apollo Management LP agreed to buy Citigroup Inc.’s real estate investment unit, according to a person with knowledge of the deal.

Emerging-Market Stocks May Retreat 15%, Aberdeen Says (Update1) Emerging-market stocks will drop as much as 15 percent this year as earnings miss estimates and global growth slows, said Devan Kaloo, who oversees $22 billion at Aberdeen Asset Management Plc.

Kerry Says ‘Great Deal’ of Consensus Achieved on Climate Policy Senator John Kerry said a “great deal of consensus” was reached among a bipartisan group of lawmakers who discussed energy policy at the White House today, and he’s moving “rapidly” to introduce legislation.

Most Japanese Shares Rise as Sony Gains; Shippers Sink on Fees Most Japanese shares gained as Sony Corp. and Honda Motor Co. advanced. Shipping lines fell after a gauge of commodity-transport fees slipped.

Fujitsu Probe Fails to Defuse Controversy Over Nozoe (Update1) Fujitsu Ltd., the computer company embroiled in a dispute with its former chief, was inadequately probed by Japan’s main stock exchange over the disclosure of President Kuniaki Nozoe’s resignation, investors said.

Sex Ends at 70 for Most People as Health Declines, Study Says The average person’s sex life ends by the age of 70, according to a report published today in the British Medical Journal.

Phantom’s Love Gets Messy in Sequel ‘Love Never Dies’: Review The Phantom of the Opera, last seen fleeing from the bowels of the Paris opera, has resurfaced as an impresario in Coney Island.

$2.7 Billion Dutch Fair Lures Collectors as Confidence Rises A record 263 dealers will offer paintings and other works worth $2.7 billion at the world’s largest art and antiques fair, anticipating the return of the billionaire big-spenders.

Sewage Workers, Red Flags Kick Off Paris ‘Ring’: Review A revolution-tinged “Das Rheingold” opened the first complete cycle of Wagner’s “Ring” to be staged at the Paris Opera since 1955.

Blair Curses, Brown Rages in Damning Political Portrait: Books As a U.K. general election nears, London newspapers are serving up juicy morsels from a scabrous new book on politics. The extracts, from Andrew Rawnsley’s “The End of the Party,” brim with men behaving badly behind the walls of the prime minister’s residence at 10 Downing Street.

Australian Stocks Rise; Japanese Shares Drop in New York on Yen Australian stocks gained on expectations for faster growth in the nation’s retail sales. Japanese shares slid in New York as a stronger yen dimmed the earnings outlook for companies dependent on U.S. demand.

Gates Trip to Afghan Combat Zone Shows War Plan Gains, Risks Defense Secretary Robert Gates ventured into the Afghan war zone yesterday, pinning awards for bravery on U.S. troops and shaking hands with farmers selling goods in a provincial market revived by security gains.

Abbott Agrees to Buy Facet Biotech for $450 Million (Update2) Abbott Laboratories, maker of the arthritis drug Humira, agreed to buy Facet Biotech Corp. for $27 a share in cash, for a net $450 million, adding experimental medicines in cancer and immunology.

Biden Condemns Israel Housing Plan as Impediment to Peace Talks Vice President Joe Biden condemned an Israeli plan to build new houses in East Jerusalem, saying it threatened to undermine a U.S. effort to restart the Israeli- Palestinian peace process that had brought him to the region.

Google, Facebook Sued Over Phone Social-Networking (Update1) Google Inc., owner of the most-used Internet search engine, and Facebook Inc. were sued by a New York company over an invention related to software that lets people join social networks on their mobile phones.

Australia Stocks Little Changed; Japan Stocks Drop in New York Australian stocks were little changed as mining companies fell on lower oil prices while David Jones Ltd. gained. Japanese shares slid in New York as a stronger yen dimmed the earnings outlook for companies dependent on U.S. demand.

Bill to Extend Jobless Benefits Clears Senate Hurdle (Update1) A $138 billion plan to extend unemployment benefits through the rest of this year cleared a procedural hurdle in the U.S. Senate as lawmakers moved closer to putting the measure to a final vote.

Citigroup Selling TruPS After Repaying Bailout: Credit Markets Citigroup Inc., seeking to bolster capital after repaying bailout funds to the Treasury, is selling trust preferred securities as rising investor demand drives borrowing costs to near the lowest in almost five years.

Barton Biggs Says U.S. Stocks May Rise 10% to 15% (Update1) Barton Biggs, who recommended buying U.S. stocks in March of last year when the Standard & Poor’s 500 Index sank to a 12-year low, said American equities may rise 10 percent to 15 percent over the next couple of months.

InterMune Wins Panel’s Backing for Novel Lung Therapy (Update2) InterMune Inc. won a U.S. panel’s backing to introduce the first treatment for a deadly lung disease that afflicts about 100,000 Americans. The recommendation sent shares more than 62 percent higher in extended Nasdaq trading.

Astra Says More Roads, Low Rates Key to Indonesia Sales Growth PT Astra International, Indonesia’s biggest auto dealer, said the nation must build more roads and keep interest rates low to revive demand for Toyota Motor Corp. cars that slumped amid last year’s global recession.