According to Reuters, a fire closed most of the oil pipeline between the US and Canada.

Reuters writes that the head of VW said the the Russian car market would eventually be the largest in Europe.

Reuters reports that credit market problems have halted plans by EMI and Warner Music (WMG) to raise new funds.

Reuters writes that shares of Freddie Mac (FRE) surged on strong demand for a record preferred stock issue.

The Wall Street Journal writes that a new FCC plan will help the buy-out of The Tribune Company (TRB) byt a group lead by Sam Zell.

The Wall Street Journal writes that Bank of American (BAC) may have to make a second investment in Countrywide (CFC) to protect its first.

The New York Times writes that credit flowing to American companies is drying up at a pace not seen in decades.

The New York Times writes that a new proposal from the FCC would prevent Comcast (CMCSA) from growing larger.

The New York Times writes that Southwest Air (LUV) set up oil hedges years ago that could make it financial better off than any other US airline.

The New York Times writes that the head of Qualcomm (QCOM) says he welcomes that Apple (AAPL) iPhone because it stimulates sales of smartphones.

The FT writes that the four large US TV networks will bring in about $120 million this year from streaming programming over the internet.

Barron’s writes that AT&T (T) has indicated that a 3G version of the Apple iPhone will be available next year.

Bloomberg writes that oil moved up $4 on news of a break in the US/Canada pipeline.

Bloomberg writes that a settlement on a Ford (F) Explorer liability case will give about one million people $500 coupons.

According to TechCrunch Google (GOOG) is experiments with a Digg-style program that will allow users to vote on search results.

Douglas A. McIntyre

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