According to Reuters, Asian economy’s may be severely damaged by rising oil and commodities prices.

Reuters writtes that European Central Bank head Jean-Claude Trichet say that the markets are going through an ongoing correction.

Reuters reports that Warren Buffett believes that most of the current credit crisis was cause by bank mortgage lending practices.

Reuters reports that the CEO of Honda (HMC) is preparing for an assault on Toyota’s (TM) hybrid market share.

The Wall Street Journal writes that the bribe probe of Siemens (SI) could grow larger.

The Wall Street Journal writes that Paramount’s "Indian Jones" brought in $101 million over the weekend.

The Wall Street Journal reports that Beijing has put together a huge overhaul of the Chinese telecom industry.

The New York Times writes that Mozilla will soon release its Firefox 3.0 browser, a challenge to Microsoft’s (MSFT) Internet Explorer.

The New York Times writes that ad-supported cable networks are accelerating the rate at which they are taking market share from major networks.

The FT writes that macro hedge funds have had double-digit returns this year.

Bloomberg writes that one analysts says that Airbus, a division of EADS, has a valuation of "less than zero".

The Times of London writes that fuel suppliers are demanding that they are paid up-front by airlines.

The Telegraph writes that George Soros says that oil prices are being driven by speculators and that recent oil prices look like a bubble.

Douglas A. McIntyre

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