Energy
Media Digest 7/6/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
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Reuters: Small banks are worried that new regulations will hurt their earnings.
Reuters: A judge approved the sale of GM assets.
Reuters: Rio Tinto (RTP) sold its food packaging assets for $1.2 billion.
Reuters: The UN reports that the recession has pushed 90 million more people into extreme poverty.
Reuters: More bidders are showing an interest in a stake in Porsche.
Reuters: China will not fight the US as the reserve currency ahead of the G8 meeting.
Reuters: GM Europe will probably sell Opel to Magna.
Reuters: Kuwait wants oil price above $60.
Reuters: About 10 firms have submitted bids for AIG’s (AIG) assets in Taiwan.
WSJ: India says it projects a deficit of almost $84 billion for the fiscal year.
WJS: Tech has helped push the market up but now has to prove that was justified with earnings.
WSJ: Samsung says it expects rising sales.
WSJ: Venture-backed tech firms are seeking government stimulus dollars.
WSJ: Wells Fargo (WFC) will beef up its securities business.
WSJ: PartnerRe will buy Paris Re.
WSJ: China Investment Corp has appointed a global advisory board.
WSJ: Chrysler named new directors.
WSJ: Citigroup (C) named new Asia chiefs.
WSJ: Quantcast is shaking up new media buying.
WSJ: Businesses are adopting “scenario planning.”
WSJ: Severe job cuts have exposed weaknesses in a federal government program to preserve jobs.
WSJ: Calls are beginning to increase the size of the stimulus package.
WSJ: The minimum wage increase comes at a bad time for many employers.
WSJ: Thirty SPACs need to make acquisitions or close out by the end of the year.
WSJ: Gazprom is burning through cash.
WSJ: Some early investors are turning against the $8.4 billion City Center project in Las Vegas.
WSJ: Best Buy (BBY) will start to sell green vehicles.
NYT: Volatile oil prices are causing fears about the recovery.
NYT: Symantec (SYMC) and McAfee (MFE) are in a battle to provide security for new computers.
NYT: Marc Andreessen has started a venture firm with $300 million to invest in IT start-ups.
FT: Wall St. will start to trade California IOUs.
FT: UBS (UBS) will overhaul its US brokerage operations.
FT: Wall St. firms are creating new securities to help bank balance sheets.
Bloomberg: Q2 earnings dropped worldwide as consumer spending faltered.
Bloomberg: The Treasury may refrain from using voting stock it has received in US companies to influence decisions.
Douglas A. McIntyre
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