According to Reuters, Chinese mining group Chinalco and Alcoa (AA) have bought 12% of Rio Tinto (RTP) setting up a potential bid against BHP Billiton (BHP).

Reuters writes that Motorola (MOT) is considering selling of spinning off its mobile handset business.

Reuters reports that Google’s (GOOG) earnings fell short of expectations.

Reuters reports that MBIA (MBI) tried to assure investors is was still viable but ratings agencies may cut their view of the firm’s debt.

Reuters reports that mortgage bankers, industry experts and nonprofit officials say that the impact of one particularly nasty kind of ARM — called the Option ARM– has still not hit the market.

The Wall Street Journal reports that a grand jury is probing Merck’s (MRK) marketing of Vioxx.

The Wall Street Journal writes that Tivo (TIVO) won a key patent case, sending it share up.

The New York Times reports that inflation in China in increasing the prices of its exports into the US

The New York Times writes that Google claimes ad growth is still strong, despite missing earnings forecasts.

The New York Times writes that OPEC is expected to keep oil prces unchanged.

The FT writes that SRM Global Fund is seeking to block the Bank of America (BAC) talkover of Countrywide (CFC), saying the price is too low.

Bloomberg reports that Nissan had its first profit in five quarters.

CNN Money writes that Exxon (XOM) profit’s for the last quarter may be the biggest ever posted by a US company.

Douglas A. McIntyre

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