According to Reuters, the FDIC may have to borrow money from Treasury to see it though a wave of bank failures.

Reuters reports that Lehman (LEH) has asked three investment firms to stay in the bidding for its money management arm.

Reuters reports that the NY Attorney General is looking at the relationship between Goldman Sachs (GS) and Fidelity in the sale of auction-rate securities.

Reuters reports that profits at China Mobile (CHL) rose substantially in Q2.,

Reuters writes that Mattel (MAT) $100 million in damages in the copyright infringement case it brought against MGA Entertainment Inc over the Bratz doll franchise.

Reuters writes that Southwest (LUV) will cut 200 flights early next year.

The Wall Street Journal reports that banks now face the challenge of paying back hundreds of billion of dollars that they borrowed before the credit crunch.

The Wall Street Journal reports that the Fed is split on how to handle inflation.

The Wall Street Journal reports that Boeing (BA) has softened its stance with unions.

The Wall Street Journal reports that HP (HPQ) closed its deal to buy EDS.

The Wall Street Journal reports that advertising fell sharply at The New York Times Company (NYT) during July.

The Wall Street Journal reports that Amylin Pharmaceuticals and Eli Lilly (LLY) disclosed more deaths from their diabetes drug Byetta

The Wall Street Journal reports that more builders of commercial property are turning to hedge funds for capital.

The Wall Street Journal writes that shares in Fannie Mae (FNM) and Freddie Mac (FRE) rose sharply as investor concern that they might be bailed out by the government faded.

The Wall Street Journal reports that Conoco (COP) will sell the rest of its gas stations.

The Wall Street Journal reports that Nokia (NOK) introduced two new high-end handsets.

The New York Times reports that distributing power from wind energy is hard because of limitation in the nation’s power grid.

The New York Times writes that cities facing money problems my privatize the infrastructure.

The FT reports the pension funds are moving into the company debt and buy-out businesses.

Bloomberg reports that Singapore fund Temasek increased its investment in Merrill Lynch (MER)

Douglas A. McIntyre

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