Bloomberg:
- The International Energy Agency said slowing growth in Chinese oil demand, rising inventories and increasing production in the Middle East should help lower oil prices from near record highs.
- US gasoline supplies will be sufficient during the summer driving season because of increased output from refineries and “ample” amounts of stocks available from Europe.
- Fifteen current and former NYSE specialists were indicted on criminal charges of fraudulent and improper trading.
- Crude oil is falling for the sixth day in seven after the IEA lowered its forecast for world oil demand for the first time in four months.
- The recording industry said it plans to sue more than 400 unidentified people associated with US universities tomorrow for using a closed computer network to illegally send movies and music over the Internet.
- The US dollar is rising versus the euro and the yen on speculation minutes from the Fed’s March 22 meeting to be released today will suggest the central bank will keep raising interest rates.
- Estee Lauder signed fashion designer Tom Ford, who turned Gucci Group NV into a global luxury brand, to develop beauty products that appeal to younger shoppers.
Wall Street Journal:
- The governors of 33 US states are urging the expansion of a directive on use of ethanol as a fuel additive.
- The US District Court in Manhattan will probably approve arrangements to compensate investors who bought shares lauded by analysts during the dot-com bubble by the end of the week.
- Raytheon is developing “gesture” technology for the US military that moves information and images on a computer screen with the flick of the finger.
- Several US companies, including Becton Dickinson and Johnson & Johnson, will soon step into a politically charged arena as they pursue plans to study stem cells drawn from early-stage human embryos.
- Ameritrade, E*Trade and Charles Schwab are trying to offer more banking services, to attract customers interested in one-stop shopping for financial services.
Washington Post:
- Berkshire Hathaway Chairman Warren Buffett told federal and NY state investigators that he was briefed on an illegal transaction between Berkshire unit General Re and AIG.
WNBC-TV New York:
- Three men have been charged in connection with last August’s purported plot to attack financial centers in New York and New Jersey.
Reuters:
- Intel said yesterday it’s started shipping the first of a new line of dual-core semiconductors, which improve desktop computer performance with separate processing units.
Interfax:
- Russia and NATO will jointly develop an anti-missile system to deploy in Europe.
El Watan:
- Algeria, the second largest oil producer in North Africa, plans to boost output at its largest oilfield by 50% as it seeks to meet the soaring demand for crude.
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