Bloomberg:
- New money placed in hedge funds fell 60% in the second quarter as investment returns lagged the overall stock market, according to Hedge Fund Research.
- Italian Prime Minister Silvio Berlusconi said the euro has been a “ripoff” for consumers, sharpening his criticism of European policymakers.
- DaimlerChrysler AG CEO Schrempp will step down Dec. 31.
- NBC Universal may buy DreamWorks SKG.
- US Treasuries maturing in 10 years or more are rising on speculation yields near the high end of their three-month range are excessive given the outlook for tame inflation.
- The Irish Republican Army today said it will end its 36-year armed campaign and use political means to achieve the goal of a united Ireland.
Wall Street Journal:
- US and other overseas investors are pouring money into China, in the hope of capitalizing on Chinese demand for mobile phone-related and other products.
- The US energy bill nearing approval may spell goods news for the nuclear-power industry, as it contains $1.5 billion in subsidies for construction of nuclear plants.
- An Idaho county filed suit against several companies, claiming their hiring of illegal immigrants burdens the county’s social services system.
- The departure of two of the biggest unions from the AFL-CIO, the largest alliance of US labor unions, has left some members disillusioned with what they say is little difference between the leaders of the contending factions.
NY Post:
- Federated Department Stores may close as many as 65 stores to help win approval of its $11 billion purchase of May Department Stores, citing Banc of America.
Washington Post:
- US environmental regulators will be barred from using information that is gathered by exposing human volunteers to toxic chemicals until they come up with better practices.
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