According to Reuters, Yahoo! (YHOO) rejected Microsoft’s (MST) bid for the company.

Reuters writes that Credit Suisse reduced its write-downs from subprime insrtuments.

Reuters writes that RIM (RIMM) had a huge outage in Blackberry service in North America.

Reuters reports that losses at Wal-Mart’s (WMT) Japan business were double forecasts.

Reuters writes that AIG (AIG) reported a large hold in its valuation of derivatives.

The Wall Street Journal writes that a dispute between IAC (IACI) and Liberty Meda might be resolved by giving Liberty conrol of IACI’s Home Shopping Network.

The Wall Street Journal writes that Sprint (S) might add an activist investor, who has opposed some of the companies moves, to its board.

The Wall Street Journal reports that China imports of coal are raising its price.

The New York Times writes that a large hedge fund, Sailfish Capital, closed and is likely to be followed by several other funds.

The New York Times writes that AT&T (T) will provide wireless internet access to customers at Starbucks (SBUX).

The FT writest that Chinese firm Huawei attacked the US governement for trying to block its bid for 3Com (COMS).

Bloomberg wirtes that the cost of oil rose due to a refinery shutdown and colder weather.

Douglas A. McIntyre

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