Reuters: Magna and Fiat improved bids for Opel as competition for the firm rose.
Reuters: The air cargo market, a key global indicator, has probably bottomed.
Reuters: Banks are coming up with novel ways to pay executives to get around TARP restrictions.
Reuters: G8 energy leaders urged stable oil prices.
Reuters: The Fed’s Kohn said rates will stay low for a long time.
WSJ: PetroChina (PTR) has proposed a $1 billion investment in Singapore Petroleum.
WSJ: GMAC needs to make $1 billion in expense cuts.
WSJ: Tobacco firms lost a major court appeal.
NYT: Job losses are pushing defaults from subprime loans to prime loans.
NYT; Ad revenue on the web is weakening and start-ups are trying to get revenue from alternative sources.
NYT: Linux is becoming the key to Intel’s (INTC) move into software.
NYT: Warner Music is the strongest of the record labels and could get stronger by buying EMI.
NYT: The nuclear power business is trying to classify itself as renewable energy.
NYT: Chapter 11 is still an option for Opel.
FT: China is stuck in a “dollar trap” as it continues to buy the currency at record levels.
FT: Toyota (TM) is pushing so hard for lower parts prices that its relationship with suppliers is becoming strained.
Bloomberg: German business confidence rose for the second month in a row.
Bloomberg: PetroChina’s (PTR) stock is up enough to match Exxon Mobil (XOM) as the world most valuable company
AP: Investors are awaiting housing and consumer confidence data to determine if the market rally can continue.
AP: The recession is humbling the high tech sector.
AP: Casinos are offering bargains to get customers back.
AP: PetroChina may buy all of Singapore Petroleum.
Douglas A. McIntyre
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