According to Reuters, UBS (UBS) will writes down about $10 billion in subprime financial instrument and raise new capital from sources including the Singapore government.
Reuters reports that Blackstone (BX) is preparing a bid for Rio Tinto (RTP) One of the investors would be a financial arm of the Chinese government.
Reuters reports that The International Herald Tribune, a part of The New York Times (NYT) will begin to carry Reuters news in its business section.
Reuters reports that the Citigroup (C) board will meet early this week to consider a new CEO.
The Wall Street Journal writes that the NY Attorney General and SEC looked into Bear Stearns (BSC) valuation of mortgage securities iin 2005, but dropped the probe.
The Wall Street Journal writes that big social network Imeem has entered into an agreement which will allow is users to listen to Univeral Music songs for free.
The Wall Street Journal writes that Iran has signed a deal with Chinese oil company Sinopec to develop a key field in the Middle Eastern country.
The New York Times writes that Nokia (NOK) is trying to increase it share of the US handset market.
The New York Time writes that Yahoo! (YHOO) will start an internet video channel for technology investors.
The New York Times write that he $60 billion Qatar Investment Authority is looking for more big investment opportunities in US banks.
The FT writes that China has raised the level of investment allowed by foreign firms to $30 billion.
Barron’s writes that JP Morgan (JPM) has done better than most banks in the current debt crisis and should do unusually well going forward.
Bloomberg writes that Societe General will take on $4.3 billion in SIVs to prevent a fire sale.
Douglas A. McIntyre
Top Gaining Stocks
Top Losing Stocks