News Digest 9/28/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Solvay sold its drug unit to Abbott (ABT) foe $6.6 billion.

Reuters:   Kraft (KFT) will launch a hostile bid for Cadbury.

Reuters:   The World Bank said not to take the dollar’s role in the global economy for granted.

Reuters:   Crucell got a $302 million investment from J&J (JNJ)

Reuters:   The Fed will work with Congress on naming its borrowers.

WSJ:   The White House is close to providing $35 billion to help housing agencies provide more mortgages.

WSJ:   Profits for the third quarter are likely to beat estimates.

WSJ:   World Bank President Robert Zoellick said the Treasury and not the Fed should be given more regulatory power

WSJ:   HSN will begin to sell ads.

WSJ:   The lack of a recovery at Hovnaian (HOV) is a drag on housing.

WSJ:   The IMF said its battled the credit crisis well.

WSJ:   China will probe chicken imports from the US.

WSJ:   Businesses open for less than 90 days accounted for 14% of hiring from 1993 to 2008, but start-ups are way down this year, and are likely to stay down.

WSJ:   More corporations are facing the fact that directors did not get majority votes.

WSJ:   Monster’s (MNST) stock may be poised for a run.

WSJ:   Federal health clinics are seeing a surge in visitors.

WSJ:   States may be deprived of $9 billion in highway funds.

WSJ:   The Commerce Department released standards for the smart grid which may help drive building.

NYT:   Sinochem has made a $2.5 billion bid for Nufarm, an Australian chemical company.

NYT:   A trustee will sue more members of the Madoff family.

NYT:   GlobalPost, which has correspondents worldwide, will get paid by CBS (CBS) in a new partnership.

NYT:   Sprint (S) is betting on WiMax to bring back market share.

NYT:   Overseas affiliates are helping CNBC make money.

FT:   US banks may face short-term lending rules to gauge risk to sharp market moves.

FT:   The value of toxic assets is improving which will help banks increase the value of the paper.

FT:   Goldman Sachs (GS) is pushing to increase the number of workers at its asset management arm.

FT:   Moody’s (MCO) was hit by a wave of short selling.

Douglas A. McIntyre