According to Reuters, the pace of capital spending in China rose quickly, making a rate increase likely.
Reuters writes that an investigation into the finances of Fannie Mae (FNM) is likely after Fortune magazine questioned the company’s accounting.
Reuters reports that Starbucks (SBUX) reported its first traffic drop.
Reuters also reports that Microsoft (MSFT) aims to be one of the top two companies in online advertising in the next three to five years.
Reuters writes that US sales of game console jumped sharply lead by the Nintendo Wii.
Reuters reports that sales of Sony’s (SNE) PS3 more than doubled in the US after the company cut the price of the product.
The Wall Street Journal writes that Google (GOOG) is prepared to buy wireless spectrum in the upcoming FCC auction. Bids could go above $4.6 billion.
The Wall Street Journal says that Gannett’s (GCI) USA Today will cut nearly 10% of its editorial staff.
The New York Times writes that online video is stealing viewer from TV.
The FT writes that China is worried that a US economic slowdown could hurt the Asian country’s growth rate.
The FT reports that Ford (F) will not close five US plants as part of a deal with the UAW.
Barron’s writes that BEA Systems (BEAS) earnings topped forecasts.
Douglas A. McIntyre
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