According to Reuters, Bear Stearns (BSC) pushed out one of its presidents after problems that closed two of its hedge funds.
Reuters writes that Robert Nardelli, former CEO of Home Depot (HD), will become CEO of Chrysler.
Reuters writes that Barclays (BCS) has launched its $89 billion takeover of ABN Amro (ABN).
Reuters reports that VW has cut the prices of some of its cars in China, signalling a price war in the auto business there.
The Wall Street Journal writes that ICI has reached a deal to buy Akzo Nobel and Henkel for $16 billion.
The Wall Street Journal writes that Microsoft (MSFT) has cut prices in China as a way to prevent piracy.
The New York Times reports that Wal-Mart (WMT) and India’s Bharti Enterprises will launch a joint venture in the country to build stores.
The FT reports that Intel (INTC) is changing its R&D forcus to create smaller chips to run smaller devices beyond the PC.
Barron’s writes that the problems at a Samsung factory could help Sandisk (SNDK) and Micron (MU).
Blloomberg reports that the dollar fell to a four month low against the yen on concerns about US growth.
CNN Money reports that China has blacklisted 400 exporters due to problems with their products.
Douglas A. McIntre
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