U.S.

Stocks Gain Around World on Economic Growth Outlook as Dollar, Yen Decline Stocks rose around the world and the dollar and the yen fell as sales of U.S. homes increased more than forecast and speculation grew that central banks will keep interest rates near record lows.

GE Is Said to Lean Toward Public Sale of Vivendi's Stake in NBC Universal General Electric Co. is leaning toward allowing an initial public offering of Vivendi SA’s minority holding in NBC Universal as talks to purchase the stake stall, a person with knowledge of the situation said.

SEC to Focus on Derivatives as Insider-Trading Probes Widen, Khuzami Says The U.S. Securities and Exchange Commission will focus on financial instruments such as derivatives as it broadens a crackdown on insider trading by hedge funds, enforcement director Robert Khuzami said.

Fed Said to Ask Stress-Tested Banks to Submit Plans for Repaying U.S. Aid The Federal Reserve asked nine of the U.S. banks that were part of this year’s stress tests to submit plans for repaying the government’s capital injections, a person familiar with the situation said.

Morgan Stanley Names Ex-Merrill Manager Moffitt to Securitization Business Morgan Stanley, preparing for a resurgence in securitized debt sales, hired former Merrill Lynch & Co. executive David Moffitt to lead the effort within the firm’s capital markets division.

Zions Leads Bank Stocks on Plan to Reduce Deferred Tax Assets, Swap Shares Zions Bancorporation, Utah’s largest lender, rose 13 percent, the most of any company in the KBW Bank Index, after saying it will reduce the value of deferred tax assets and offer to exchange preferred shares for common.

Latin America

Colombia Unexpectedly Cuts Rate to 3.5% on Inflation Outlook, Growth Slump Colombia’s central bank unexpectedly cut its benchmark interest rate to a record low as policy makers seek to take advantage of below-target inflation to give an extra boost to a sluggish economic recovery.

Mexico's Credit Rating Cut by Fitch as Oil Output Drop Swells Budget Gap Mexico’s investment-grade credit rating was lowered by Fitch Ratings as tumbling oil output and the worst recession since the 1930s swell the budget deficit.

Goldman Calls `Unnecessary Roughness' After Missing Fitch Mexico Downgrade Goldman Sachs Group Inc.’s Paulo Leme called Fitch Ratings’s downgrade of Mexico “unnecessary roughness,” saying the decision ignored the country’s efforts to stem a widening budget deficit.

Bovespa Gains on Economic Growth Outlook, Rising Commodities; Bolsa Climbs Brazilian stocks rose for the first time in three days on speculation low interest rates and economic stimulus from the country’s biggest trading partners will sustain demand for commodities.

Xstrata Begins `Amicable' Wage Talks at Altonorte Copper Smelter in Chile Xstrata Plc will begin talks today with workers at its Altonorte copper smelter in northern Chile to reach a new wage accord, a company spokeswoman said.

Argentina's `Policy-Induced' Toll Operator Default to Swell Budget Deficit Argentine highway operator Autopistas del Sol SA’s bond default is adding to concern the budget gap will swell to the widest in nine years as the government takes over unprofitable companies, Moody’s Economy.com says.

Exclusive

Dollar Confidence Not at Risk Even With Debt `Mountain,' Strauss-Kahn Says International Monetary Fund Managing Director Dominique Strauss-Kahn said that confidence in the dollar isn’t under threat and his main challenge for now is fighting the danger of asset bubbles in emerging markets.

Bank of America May Name Stopgap CEO to Allow Board More Time for Search Bank of America Corp.’s board may extend its search for a permanent new chief executive officer into 2010 if directors can’t settle on a candidate in the next three days, according to people familiar with the matter.

Deripaska Is in Talks on Selling Interests in Construction, Airport Units Russian Billionaire Oleg Deripaska, whose United Co. Rusal is seeking to restructure more than $14 billion of debt, is in talks with potential investors in his construction, airport and financial-services businesses.

Zynga May Be Valued at $1 Billion as Game Maker Feeds Off Facebook Craze Zynga Inc., maker of the “Mafia Wars” and “FarmVille” games played on Facebook, may be valued at $1 billion based on the sale price of a smaller rival.

Cuomo Took Campaign Donations From Lawyers With Matters Before His Office New York Attorney General Andrew Cuomo’s campaign fund took tens of thousands of dollars from law firms representing clients his office investigated or accused of wrongdoing, state records show.

Woman Who Sank Galleon Was Beauty-Queen-Turned-Analyst Allegedly With Tips Danielle Chiesi spent a lot of time in hotel ballrooms and bars during the past decade.