According to Reuters, Citigroup (C) will buy the ABN AMRO Mortagage Group which makes loans in the US.
Reuters writes that Philips Electronics (PHG.AS) beat estimates when its announced its most recent quarter.
Reuters writes that IBM (IBM) will renew its software rivalry with Microsoft (MSFT) by introducing products for social networking at businesses.
The Wall Street Journal writes that Sun (SUNW) and Intel (INTC) have been negotiating a deal for the largest chip manufacturer to sell the server company its products. Sun had used Intel rival AMD (AMD) exclusively.
The WSJ also writes that Toyota (TM) and Ford (F) have indicated that they may want to deepen ties but it would not be a link-up like the equity deals of the 1990s.
The WSJ writes that Kimberly-Clark (KMB) will start to market "Kleenex laced with a mild pesticide to fight cold and flu viruses" to ward off generic competition.
The Wall Street Journal also writes that the new CEO of Sanofi-Aventis (SNY) is prepared to speak more openly about experimental drugs in its pipeline.
The New York Times reports that some technology companies are increasing their support for open source operating system Linux. IBM (IBM), Intel (INTC), and Hewlett-Packard (HPQ) are supporting moves to make the software more mainstream in businesses.
The FT reports that independent record labels will start selling music on News Corp (NWS) social network site MySpace.
Barron’s reports that the buzz around WiMax is increasing with research firm Canaccord Adams naming WiMax company AirSpan (AIRN) as its "Best Idea".
Douglas A. McIntyre