According to Reuters, Yahoo! (YHOO) is in talks with News Corp (NWS) about an M&A deal but analysts say it is unlikely to work.

Reuters writes that Paulson thinks the US economy will not go into recession.

Reuters writes that NY governor Spitzer says bond insurance problems could become market tsunami.

Reuters says that UBS (UBS) said 2008 would be a tough year and that it has more write-down exposure.

Reuters reports that Air France/KLM would probably make an investment in a Delta (DAL) merger with Northwest (NWA).

The Wall Street Journal writes that a plant in China is being linked to problems with Baxter’s (BAX) Heparin drug

The Wall Street Journal reports that banks are trying to get Congress to allow the federal government to take on some of the risk of their home loans.

The Wall Street Journal writes that Comcast (CMCSA) has eliminated most of the pay of founder Ralph Roberts as a reaction to shareholder pressure.

The Wall Street Journal reports that Microsoft (MSFT) will replace the head of its mobile unit.

The Wall Street Journal writes that Baidu’s (BIDU) net income was up 79%.

The Wall Street Journal reports the US government has approved the sale of Clear Channel.

The Wall Street Journal reports that OPEC may back Venezuela in a dispute with Exxon (XOM) but is unlikely to cut production.

The New York Times writes that Hewlett-Packard (HPQ) has settled a spying case with several journalists.

The New York Times writes that Google’s (GOOG) efforts to market a handset operating system is drawing competition.

The FT writes that municipalities are having problems rasing money because of the debt crisis.

The FT reports that Singapore will be the largest investor in a $6 billion fund being put together by private equity firm TGP. The fund will invest in troubled financial firms.

Douglas A. McIntyre

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