According to Reuters, the Fed is set to cut rates again to avoid a recession.

Reuters writes that UBS (UBS) subprime losses increased driving the bank further into the red.

Reuters reports that Honda’s (HMC) profits improved on better margins.

Reuters writes that Yahoo! (YHOO) will cut 1,000 jobs after reporting weak earnings.

The Wall Street Journal writes that New York state regulators are rethinking a decade-old loophole that allows bond insurers to venture into derivatives.

The Wall Street Journal reports that Clear Channel (CCU) shares fell as investors worried about whether it will close a deal to go private.

The Wall Street Journal writes that the FBI has launched an investigation into the subprime activities at 14 companies.

The Wall Street Journal writes that Spint (S) reopened talks with Clearwire (CLWR) about a WiMax alliance.

The Wall Street Journal reports that News Corp (NWS) MySpace will open its platform to outside developers.

The New York Times writes that there is pressure for the management at Societe Generale to resign.

The New York Times writes that Wal-Mart (WMT) will overhaul it apparel unit.

The FT writes that multinational companies are preparing for a slowdown by cutting spending and freezing wages.

Barron’s writes that Intel (INTC) shares are attracitve as it improves its competitive position against AMD (AMD).

Bloomberg writes that SAP (SAP) say that is sees improving margins and higher revenue this year.

Douglas A. McIntyre

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