According to Reuters, Rio Tinto (RTP) has launched a $38.1 billion takeover bid for Alcan (AL).
Reuters writes that customers at JP Morgan have been confused by opposite calls on future plans for Apple’s (AAPL) iPhone.
Reuters reports that Motorola (MOT) has warned of a Q2 loss as handset sales fell.
Reuters also writes that profits at handset maker Sony Ericsson rose 55%, somewhat short of expectations.
Reuters writes that GE (GE) and Abbot (ABT) terminated talks for the conglomerate to buy Abbot’s diagnostics business because the companies could not agree on terms.
Reuters also reports that Genentech’s (DNA) profits rose sharply on increase in sales of some of its flagship drugs.
The Wall Street Journal reports that hedge fund Cerberus will be able to raise the money it needs to buy Chrysler despite increasing trouble finding money for such deals.
The Wall Street Journal writes that the EU may be considering plans to increase telecom competition in Europe by breaking up companies including Deutesche Telekom (DT) and France Telecom (FTE).
The Wall Street Journal also reports that Best Buy (BBY) will sharply increase the number of mobile handsets that its sells to increase its small market share in the business.
The New York Times writes that Rupert Murdoch is troubled by the pace of his talks to buy Dow Jones (DJ).
The New York Times writes that it Nintendo Wii will remain in short supply.
The FT writes that one of the largest owners of Advance Medical Supplies said that its bid to buy Bausch& Lomb is too risky.
Douglas A. McIntyre
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