Bloomberg:
- Intel will work with Nokia Oyj to develop products that deliver high-speed wireless Internet access over long distances.
- Crude oil is falling, heading for the first weekly decline in three, amid higher-than normal US inventories.
- China and the European Union agreed to limit shipments of Chinese textiles to the 25-nation bloc through 2007, repairing relations between the world’s two biggest clothing exporters.
- The US dollar reached a nine-month high against the euro after the US trade deficits in March and April were less than expected.
- US 10-year T-notes fell for the third day, the longest drop since March, on speculation yields near their lowest in 14 months don’t reflect prospects for economic growth and Federal Reserve interest-rate increases.
- GM shares are rising as much as 11% after reports that the world’s largest automaker is pressing the UAW for concessions and that the union authorized leaders to negotiate.
Wall Street Journal:
- Krispy Kreme Doughnuts’ Canadian franchise is selling the operator’s doughnut-making equipment, store leases and assets.
NY Times:
- Democratic Party Chairman Howard Dean met some Democrat senators that were concerned over his recent remarks that “Republicans haven’t earned an honest living in their lives.”
- Microsoft is nearing an agreement with News Corp.’s Twentieth Century Fox and Vivendi Universal’s Universal Pictures to produce a movie based on the Xbox video game “Halo.”
- High beer prices are promting consumers to buy chicken and pork.
- A suspected fourth case of a rare and potentially fatal nerve disorder in a patient taking Biogen Idec’s multiple-sclerosis drug Tysabri may have been a misdiagnosis.
USA Today:
- The US Army plans to double the cash bonus for some new recruits to $40,000.
Financial Times Deutschland:
Amgen is considering expanding its research into stem cells, an area in which it currently has a peripheral interest.
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