According to Reuters, Citigroup (C) plans to double the number of branchs it has in China.
Reuters writes that GM (GM) management will not take bonuses for 2006.
Reuters writes that Toyota (TM) will develop its own standard for in-car software as it becomes amore important component of most vehicles.
Reuters writes the Intel (INTC) plans a new generation of chips that will have much more power without using more energy.
Reuters writes that mobile network company Ericsson (ERIC) plans more acquisitions to maintain its position at the head of the industry.
Reuters writes that McDonald’s (MCD) and other US fast food chains are under fire in China for paying low wages.
The Wall Street Journal reports that car parts company Tower Automotive plans to sell its assets to Cerberus, a sign of the growing presence of private equity in the car business.
The New York Times reports that Google (GOOG) is having mixed results selling radio and newspaper ads, showing it is far from becoming a major force in these industries.
The New York Times reports that Merck (MRK) has cancelled work on a major new insomnia drug because of troubling side effects.
The FT reports that Sony’s PS3 (SNE) had a record launch in Europe selling 300,000 units in two days.
FT also reports that former Disney (DIS) head Mike Eisner is teaming with MySpace (NWS) to create video of the social network site. The move is a challenge to Google’s (GOOG) YouTube.
Barron’s reports that shares in Abbot Labs (ABT) may continue their rise as the company gets into the drug coated stent business.
Douglas A. McIntyre
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