According to Reuters, gas price are at $3.20 a gallon and could rise another $.20 to $.30 in the next month.

Reuters writes that Chevron will develop two major projectsw in Asia.

Reuters reports that its survey of analysts shows that earnings in Q1 and Q2 will be flat compared to a year earlier.

Reuters reports that Taiwan Semiconductor sees its chip sales for PCs slowing.

The Wall Street Journal writes that although stocks in the S&P 500 are down 17% since October, they may not be as cheap as they seem.

The Wall Street Journal reports that analysts are revising their projections for oil prices higher.

The head of the FCC says that Comcast (CMCSA) violated the "net neutrality" principles by cutting bandwidth use for some customers.

The Wall Street Journal writes that VW plans to triple its sales in the US.

The New York Times writes that the six largest cable companies will form a company to sell targeted ads for them.

The New York Times reports that the number of people watching full-length programs online is increasing.

The FT writes that Microsoft (MSFT) plans to go slowly in its integration of Yahoo! (YHOO) technology, if buyout goes through.

The FT reports that New York governor Elliot Spitzer played a behind the scenes role in the rescue of Ambac (ABK).

The FT reports that Bank of America (BAC) is under pressure not to put a key Countrywide (CFC) executive in charge of the company once BAC buys it.

Bloomberg reports that bond investors are betting that the Fed has lost control of inflation.

Douglas A. McIntyre

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