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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.

Asian Stocks Fluctuate After Australia Report; Shippers Decline Asian stocks fluctuated as Australian consumer confidence rose, while shipping lines declined after a measure of cargo transport rates fell for the first time in almost two weeks.

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.

Japanese Machinery Orders Declined 3.7% in January (Update1) Japanese machinery orders fell in January, a sign that any pickup in capital spending is likely to be slow.

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.

Canon Says China May Become Its Biggest Camera Market in 2015 Canon Inc. expects China’s camera market may become the world’s largest as early as 2015, an executive said.

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.

Australian Economy to Expand Faster, RBA’s Lowe Says (Update1) 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.

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.

Allergan’s Botox Approved by FDA for Muscle Spasms (Update1) Allergan Inc.’s Botox, used for reducing facial wrinkles, was approved by U.S. regulators to treat muscle spasms in the elbow, wrist and fingers, the Food and Drug Administration said today.

U.S. Stocks Advance on Anniversary of 2009 Bear-Market Low U.S. stocks rose on the anniversary of the 2009 bear-market low for the Standard & Poor’s 500 Index amid speculation the economy will continue to recover from the worst contraction since the Great Depression.

Body of Sequent President Found in River, Police Say (Update2) The body of Douglas Schantz, president of AGL Resources Inc.’s Sequent Energy Management LLP, was found in the Mississippi River, the New Orleans Police Department said.

Abbott to Buy Facet in $450 Million Transaction Abbott said it agreed to acquire Facet for $27 per share in cash, for a net transaction value of about $450 million, which includes a purchase price of about $722 million less Facet’s projected cash and marketable securities at closing of about $272 million.

N.Y.’s Paterson Says Financial Review Board in Ravitch Plan A four-year blueprint to fix New York’s chronic budget deficits may call for creation of a financial review board and give the state’s chief executive new power to curb spending, Governor David Paterson said.

Bullish QLogic Options Surge on Takeover Speculation (Update1) Bullish trading of QLogic Corp. options jumped to the highest in four months in U.S. trading on speculation the supplier of chips and switches for corporate networks is a takeover target.

Time Warner Cable Urges U.S. to Block TV Blackouts (Update3) Time Warner Cable Inc. plans to ask U.S. regulators to block broadcasters from cutting signals during fee disagreements, aiming to avoid disruptions such as Walt Disney Co.’s blackout of the Academy Awards.

'Jihad Jane' Indicted in Pennsylvania for Murder Plot (Update3) A Pennsylvania woman who used the alias “Jihad Jane” plotted to recruit jihadist fighters and conspired to commit murders overseas, according to an indictment unsealed in Philadelphia.

Biggs Says U.S. Stocks May Rise 10% to 15% in Next Few Months U.S. stocks may rise 10 percent to 15 percent over the next couple of months, according to Barton Biggs.

Toyota Reviewing U.S. Report of Accelerating Prius (Update4) Toyota Motor Corp., struggling to regain a reputation for quality after unintended acceleration forced the recall of millions of vehicles, will investigate a report in California of a Prius hybrid that sped out of control.

Fannie Mae Mortgage-Bond Spreads Fall to Record: Credit Markets Yields on Fannie Mae and Freddie Mac mortgage securities that guide U.S. home-loan rates fell to the lowest relative to Treasuries on record, even as the scheduled end of Federal Reserve purchases approaches.

Ingersoll-Rand Bars Subsidiaries From Sales to Iran (Update2) Ingersoll-Rand Plc, the maker of Trane air conditioners, barred its non-U.S. subsidiaries from sales destined for Iran after being targeted in a weeklong campaign by an activist group.

AIG, Citigroup, Fannie Mae, Freddie Mac Shares Surge (Update2) American International Group Inc. surged, leading gains by financial companies bailed out by the U.S. government, on speculation the insurer will sell more assets after raising $51 billion through deals.