Bloomberg:
- Thomas H. Lee, the billionaire investor who plans to raise at least $7.5 billion for a new buyout fund, said the industry has entered a “golden age” of rising profits and transaction values.
- Crude oil in NY surged above $58 a barrel for the first time since reaching a record in April on signs that producers will struggle to meet growing fuel demand during the second half of the year.
- US 10-year T-notes are headed for their first back-to-back weekly drop in three months on stronger economic data.
Wall Street Journal:
- Independent stock-research firms are seeing a boost in business as fund managers and institutional investors buy their services with so-called soft dollars.
- The announcement that Morgan Stanley CEO Philip Purcell will step down after months of strife at the investment banking company may not provide a lasting gain in the stock.
- BellSouth plans to hire nearly 1,500 more workers as it expands its US broadband network in its region of nine southeastern states.
- Fund managers are increasing bets on emerging-market bonds denominated in local currencies to aim for higher returns.
NY Times:
- Inquiries into living wills, which allow people to specify medical measures at the end of their lives, have jumped since the death of Terri Schiavo.
- Guidant will pay the cost for a new defibrillator if both a patient and doctor decide the older device needs to come out.
San Francisco Chronicle:
- Intel will today announce the development of a chip that can access various so-called wireless fidelity, or Wi-Fi, networks to make it easier to use the Web.
Washington Post:
- US Democratic Senator Dick Durbin was rebuked by the White House for comparing treatment of detainees at the US naval prison in Guantanamo Bay, Cuba, to interrogations by Nazis and practices in Soviet gulags.
Lusa:
- Portugal will delay its referendum on the European Union’s constitution, which it planned to hold in October, citing Prime Minister Jose Socrates.
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