According to Reuters, Barclays (BCS) took a $2.7 billion write-down due to exposure to subprime markets.
Reuters writes that IBM (IBM) will push into the business of running huge data centers for operations like banks and and retailers.
Reuters writes that Merriil Lynch (MER) named John Thain as its CEO.
Reuters reports that Cerberus backed away from its purchase of United Rentals because of bad credit markets.
Reuters also reports that OPEC ministers claim that increasing the supply of oil will not help move prices down.
The Wall Street Journal writes that Delta (DAL) formed a committee to look at alternatives including selling the airline. Separately, Pardus Capital pushed for a merger with United (UAUA).
The Wall Street Journal writes that when Starbucks (SBUX) reports earnings today, investors will be looking for a slowdown in traffic.
The Wall Street Journal writes that GlaxoSmithKline (GSK) will add a warning label about heart attack risk to it diabetes drug Avandia.
The Wall Street Journal writes that AMD (AMD) will introduce a powerful new line of PC chips
The Wall Street Journal writes that the head of E*Trade (ETFC) wants it to find a partner or seek a cash infusion.
The Wall Street Journal reports that UAW members approved their new contract with Ford (F).
The Wall Street Journal reports that the cable industry will fight restrictions suggested by the head of the FCC.
The New York Times writes that Warren Buffett told Congress that repealing the estate tax would only benefit a small number of the rich and widen the income gap in the US.
The New York Times writes that Dell (DELL) will offer servers with the Sun (JAVA) Solaris operating system.
The FT writes that outside investors have taken over two collapsed Bear Stearsn (BSC) funds.
The FT reports that Oracle (ORCL) warned BEA Systems (BEAS) that any future bid for the company would be lower than the first one.
CNN Money reports that Sony (SNE) PS3 sales have more than doubled in the US since the company cut the price of the game console.
Douglas A. McIntyre
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