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According to Reuters, Japan Tobacco agreed to buy UK cigarette company Gallaher for $14.7 billion.
Reuters writes that Ford shoke up its top management naming a single global product chief.
The Wall Street Journal writes that GM could have an agreement with bankrupt car parts maker Delphi by early 2007 on how much of the liability of worker’s pensions GM will assume.
Reuters writes that Google and search engine Baidu are both working on expanding their online video operations in China.
Reuters writes that Home Depot is buying back $3 billion more in its own shares.
The Wall Street Journal reports that Nokia and Siemens are delaying the merger of their telecommunications businesses due to a corruption investigation at Siemens.
The Wall Street Journal also reports that the net at Costco rose nearly 10% last quarter.
The Wall Street Journal also writes that shares in AMD rose as it said its ATI acquisition integration was going well and that the company should grow faster than the chip market as a whole next year.
The New York Times reports that the government is looking into the failure of the Interior Department to collect oil and gas drillng rights for inventory brought out of US owned land.
The New York Times writes that large inventories at Chrysler will probably hurt results at the company for several more months. There is speculation that the company could be sold to Chinese interests.
The FT reports that OPEC will begin to cut output further in February.
Douglas A. McIntyre
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