U.S.

U.S. Retail Sales Probably Dropped in April Amid Housing Slump, Job Losses Sales at U.S. retailers probably fell in April as the biggest housing slump in a quarter century, record gasoline prices and the loss of jobs took their toll, economists said before reports this week.

Treasury Cash Avalanche Spells Respite for Worst Bear Market in Four Years Treasury investors beset by rising debt sales and faster inflation are about to get a reprieve.

Dollar Bulls Gain Control as Futures Signal High-Flying Euro Close to Peak For the first time since December 2005, futures traders are turning bullish on the dollar.

Los Angeles Downtown on Sale at 65% Off as Debt Drags Down Meruelo Maddux A package of Los Angeles real estate on sale for 35 cents on the dollar is attracting investors to the depressed shares of Meruelo Maddux Properties Inc., the biggest private landowner in the city's four-square-mile downtown.

Nymex Chief Newsome Says Shareholders Will Approve Planned Purchase by CME Nymex Holdings Inc. shareholders will approve its planned sale to CME Group Inc. because the transaction has ``great value,'' enough to compensate for a price decline of almost $2 billion, Nymex's Chief Executive Officer James Newsome said.

Michael Jackson Avoids Foreclosure on Neverland Ranch as Colony Buys Loan Pop star Michael Jackson averted foreclosure of his Neverland Ranch because Colony Capital LLC bought the loan on the property.

Latin America

Venezuela, China to Pump Oil in Orinoco, Supply Planned Chinese Refinery Venezuela agreed with China, the world's fastest-growing major economy, to form a joint venture that will produce oil in Venezuela's Orinoco Belt to supply a new 400,000 barrel-a-day refinery they will build in China.

Venezuelan Bonds Drop Amid Concern on Link Between Chavez, Colombia Rebels Venezuelan bonds fell, sending yields over U.S. Treasuries to their widest in almost four years, amid speculation that links between President Hugo Chavez and guerrillas fighting Colombia's government may be extensive.

Argentine Farmers Strike Will Probably Extend Beyond May 15, Buzzi Says An Argentine farm strike that has slowed grain exports from South America's second-largest economy may extend beyond May 15, farm leader Eduardo Buzzi said.

Televisa, Gerdau Lead Year's Busiest Week for Latin American Bond Sales Grupo Televisa SA, Mexico's largest television broadcaster, and steelmaker Gerdau SA led $1.3 billion of Latin American bond sales in the busiest week for corporate borrowers this year, after Brazil received an investment-grade rating for the first time.

Chavez to Decide This Week on Mining Permits for Crystallex, Gold Reserve Crystallex International Corp. and Gold Reserve Inc. may get mining permits from Venezuelan President Hugo Chavez, less than two weeks after their stocks plunged on announcements operations would be blocked on environmental grounds.

Chavez Says He Will Sign Law Nationalizing Ternium Unit Sidor Tomorrow Venezuelan President Hugo Chavez will sign tomorrow the law nationalizing Siderurgica del Orinoco, a unit of Luxembourg's Ternium SA, after the country's Supreme Court last week ratified Chavez's initial decree.

Exclusive

Lampert, Wood Reveal Failings of `Concentrated' Stock Hedge Fund Strategy When Jon Wood opened his Monaco-based hedge fund, the former UBS AG trader told investors he'd beat the market by buying stakes in no more than 40 companies -- the same way he made $2.4 billion in six years for his old employer.

Citigroup Leads Wall Street Drive to Punish Taxpayers in Auction-Rate Debt Taxpayers from Massachusetts to California are paying Wall Street banks to end derivative contracts gone bad as they exit the collapsing auction-rate bond market, with penalties in some cases topping $10 million and compounding the pain of rising borrowing costs.

Petrobras Seeks Refinery Takeovers to Export Gasoline, Diesel, Not Crude Petroleo Brasileiro SA, Brazil's state-controlled oil producer, plans to acquire refineries that may make the company the world's third-largest seller of gasoline and diesel.

Thailand's Rush to Grow Rice May Drain Water Reserves, Cut Future Harvests Kamolsak Thongta was working at a garage in northern Thailand when rice prices began to soar. So he quit his job, found a plot of unused land and became a farmer.

New Jersey's Corzine Seeks First Wind-Energy Farm Off U.S. East Coast New Jersey Governor Jon Corzine wants his state to be the first in the U.S. Northeast to build an electricity-generating wind farm off the Atlantic coast.

Police Chief Throws Book Discussion at Violent Crime Wave in U.S. Capital Washington Police Chief Cathy Lanier is looking to bestselling author Malcolm Gladwell to help tip the balance against crime amid a spike in murders in the U.S. capital.