Bloomberg:
- Man Group Plc, the world’s largest hedge fund manager, reported its smallest annual earnings gain since 2000 after some of its biggest funds declined in value.
- Elan Corp. CEO Martin said he’s confident the multiple sclerosis drug Tysabri, linked to the death of two patients, will return to the market after a meeting with US regulators mid-year.
- Toll Brothers, the largest builder of luxury homes, said fiscal second-quarter profit more than doubled as the industry’s sales surged to a record.
- The euro is falling to a seven-month low against the US dollar after an opinion poll showed increasing French opposition to the European Union constitution before a referendum on May 29.
Wall Street Journal:
- Seattle-based RealNetworks may not benefit from its efforts to get the European Commission to order Microsoft to change its business practices on selling media-player software.
- A French “no” on the European Union constitution vote Sunday would slow down the decades-long movement toward integration and may force European leaders to rethink the top-down approach of rules coming from Brussels.
- Delta Air Lines Song low-cost airline division is experimenting with promoting rock bands on its airlines, as part of a new venture to distinguish itself from competitors.
- Germany, the Netherlands and Greece are at the forefront of a movement to legalize prostitution in an effort to curb crime.
NY Times:
- Senator Hillary Clinton’s former national finance director accepted secret gifts intended to “buy influence,” citing US prosecutors.
- Iraq’s dominant Shiite Muslim political parties have agreed to give Sunni Muslim Arabs a broader role in writing the country’s constitution, in response to US requests that the minority group be included more.
LA Times:
- Scottish Power’s PPM Energy unit plans to build a $235 million, 150-megawattt wind farm in northern California’s Solano County capable of generating power for 112,500 homes.
USA Today:
- Tax collections by US states rose to a record $600 billion last year, up 7.2% from 2003 and the biggest jump since 2000.
AP:
- Afghanistan confiscated 40 tons of opium, the raw material for heroin, in the first five months of this year.
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