Bloomberg:
- Investors worldwide raised stock holdings to a six-month high this month on speculation that economic and profit growth will accelerate, according to a Merrill Lynch survey.
- The US dollar gained against the euro for a third day as government reports reinforced speculation that the Fed would raise rates through year-end.
- US Treasuries are rising for a third day in four after reports showed consumer prices and industrial production increased less than forecast.
- Crude oil is falling for a second day, its biggest two-day drop in a month, on speculation the US is accumulating sufficient stockpiles of winter fuels.
Wall Street Journal:
- Strategic buyers, companies that buy businesses to add to their own, are returning to the acquisitions market in competition with private-equity buyers after spending years repairing their balance sheets.
- Lagging fund flows at Fidelity Investments have placed it ninth among fund companies in terms of fund growth and pushed it down to third place in terms of assets, behind Vanguard Group and American Funds.
- US government grants for medical research are being routinely misused by schools that receive them.
NY Times:
- More hedge-fund managers are following shareholder activist Carl Icahn in starting populist battles against company chief executive officers.
- Morgan Stanley, UBS, CSFB and Citigroup will probably say today that they’re joining Merrill Lynch and Citadel Derivatives in buying a stake in the Philadelphia Stock Exchange.
- IBM and AMD this week are expected to announce they have extended a three-year-old technology development agreement through 2011.
NY Post:
- Gap Inc. is offering free digital-music downloads from Apple Computer’s iTunes for trying out a pair of jeans.
San Francisco Chronicle:
- California public school students scored higher on state English and math tests than anytime in the examinations’ five-year history.
Reuters:
- President Bush isn’t planning to block a threatened strike of Northwest Airlines mechanics if they walk out as expected on Aug. 20.
AFP:
- Iraq increased oil production by 15% to 2.3 million barrels/day from its southern fields.
Dagens Nyheter:
- AstraZeneca Plc, the UK’s second-largest drugmaker, may move more of its research to the US if Sweden introduces a stricter animal-rights law.
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