According to Reuters, Spanish bank BBVA is taking over Compass Banschares (CBSS) for $9.6 billion.
Reuters writes that Japanese beer company Sapporo Holdings has received a merger proposal from Asahi Breweries. Sapporo was being bid on by US fund Steel Partners.
Reuters reports that Microsoft (MSFT) says that certain industry forecasts for sales of Vista are too aggressive.
Reuters also reports that Wal-Mart (WMT) says its Japanese arm Seiyu Ltd. should return to profitability this year.
The Wall Street Journal reports that probes into options backdating at Broadcom (BRCM) are moving onto a faster track with the government. The paces of the investigations at McAfee (MFE) and Apple (AAPL) are also picking up.
The Wall Street Journal writes that the head of Chrysler (DCX) wants to use global alliances to try to double sales outside the US. The company also may cooperate with GM (GM) to build a large SUV.
The WSJ reports that Boeing (BA) will re-enter the satellite business.
The WSJ also reports that Caterpillar (CAT) plans to increase its presence in Asia, perhaps by taking a larger stake in a joint venture with Mitsubishi Heavy Industries Ltd
The WSJ reports that Exxon’s (XOM) new reserves outpaced its production last year.
The FT reports that some large investors claim that Citigroup’s board is being too :sympathetic" to CEO Prince.
The New York Times writes that home prices fell in almost half the country’s large markets last year.
The NYTimes reports that Vonage (VG) reported a lower loss but said subscriber growth rates were off.
Barron’s writes that shares in Elizabeth Arden (RDEN) should outpace those of many of its rivals.
Douglas A. McIntyre
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