According to Reuters, BHP Billiton (BHP) is lining up more bank financing in its bid to buy Rio Tinto (RTP).

Reuters writes that the GE (GE) jet engine backlog in China has hit $5 billion.

The Wall Street Journal writes that most indicators now point to the US being in a recession.

The Wall Street Journal reports that energy costs are driving inflation in Europe.

The Wall Street Journal writes that HBO will begin testing an online video service.

The Wall Street Journal reports that booming LCD sales are driving profits at Samsung and Sharp.

The New York Times writes that Getty Images (GYI) has put itself up for sale.

The FT writes that management at GE unit NBC will begin to cut out expensive traditions like "pilots".

The FT reports that China’s second-largest insurer, Ping An, plans to raise about $22 billion in a stock offering.

Bloomberg writes that oil has dropped below $90 on recession concerns.

Bloomberg reports that profits at Philips doubled.

Douglas A. McIntyre

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