According to Reuters, Singapore says that it has no interest in controlling UBS (UBS) in which it has made a large investment

Reuters writes that IBM (IBM) is in talks to buy Israeli start-up XIV Information Systems for $300 million.

The Wall Street Journal writes that the British government is probing possible bribes paid by Glaxo and AstraZeneca to the regime of Saddam Hussein.

The New York Times writes that in battle between Sony’s (SNE) Blu-ray nor Toshiba’s HD DVD high definition formats, most consumers are staying on the sidelines.

The New York Times reports that the once hot market for handset ring tones is slowing down.

The New York Times writes that the Nintendo DS is even more popular than the Wii in the US.

The New York Time writes that the price of oil has firmed above $96.

The FT writes that commercial and investment banks raised equity worth $83 billion in the final six months of 2007.

Barron’s writes that BNY Mellon is undervalued as a play for global wealth management.

Bloomberg writes that European stocks are heading for the first annual drop since 2002.

Douglas A. McIntyre

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