Reuters writes that economists have revised their estimates for US GDP growth down "citing a lower outlook for capital spending, residential investment and business inventories."
Reuters reports that Microsoft (MSFT) expects its sales in China to rise 20% this year based on new products and a crackdown on piracy.
Reuters writes that McDonalds (MCD) workers in southern China’s Guangdong province would set up unions.
The Wall Street Journal writes that Berkshire Hathaway (BRK.A) has announced that it has taken a stake of almost 11% in Burlington Northern (BNI).
The Wall Street Journal reports that the CFO of troubled video game company Take-Two (TTWO) has stepped down.
WSJ also writes that Apple (AAPL) has sold its 100 millionth iPod.
The New York Times reports that a Canadian pension fund and other financial firms are working on a $45 billion takeover bid for BCE (BCE), parent of BellCanada.
The New York Times also writes that Wall St. is cutting estimates for sales of Pfizer‘s (PFE) Exubera diabetes drug as sales do not live up to expectations.
FT reports that Imperial Tobacco has made a second approach to tobacco company Altadis is an attempt to take over the Spanish company.
Barron’s writes that JMP Securities has downgraded Yahoo! (YHOO) saying that the new Panama text advertising product is already priced into the company’s shares.
Douglas A. McIntyre
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