Bloomberg:
- German Cardinal Joseph Ratzinger, who was considered a leading candidate to succeed Pope John Paul II and one of the most conservative voices in the Catholic Church, today was named the leader of the world’s 1 billion Roman Catholics.
- US Treasury notes surged after a measure of the Core PPI climbed less than forecast last month, easing concern about faster inflation.
- Crude oil rose more than $1 amid speculation that growing gasoline demand will erode US inventories and strain the ability of refineries to make enough of the fuel.
Wall Street Journal:
- Eastman Kodak, Atari, Microsoft and other US companies routinely paid tv commentators to recommend their products to the public.
- Exxon Mobil, BP, Royal Dutch/Shell and other big oil companies face increasing competition from smaller and more agile rivals.
- The AP will start charging an extra fee to publishers that post its stories on the Internet.
- Boeing and Lockheed Martin will be the major beneficiaries of some $6 billion in spending by the Air Force on rockets.
- Walt Disney plans to announce two gaming software deals, including the acquisition of Avalanche Software.
- GE and Eli Lilly are developing a process that will help detect Alzheimer’s disease at an earlier stage.
NY Times:
- At least 23 US states are either passing laws or considering legislation related to the obligation of pharmacists to distribute emergency contraception pills.
- Rising oil prices and nervousness in the market is working to Iran’s advantage as it cements relationships with several powerful countries in part to thwart US-imposed isolation.
- GM may soon stop making either Buick or Pontiac cars as the two brands’ sales decline.
- AOL has agreed to buy licenses from Universal Music Group to provide music videos to subscribers.
Washington Post:
- The US Republican National Committee raised a record $32 million in the January-March period, more than double the total collected by Democrats.
CNBC:
- Janet Yellen, president of the Federal Reserve Bank of San Francisco, said in an interview that inflation expectations remain “well contained” and the US economy is still growing.
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