Bloomberg:
- The Federal Reserve is paying closer attention to the rising values of assets such as stocks and homes, as low interest rates encourage more risk-taking.
- Time Warner’s publishing unit issued a hiring freeze and clamped down on spending on customer gifts and travel to meet profit targets.
- US Treasuries are falling after Fed Chairman Greenspan said the central bank is paying closer attention to asset values.
- Broadcom CEO McGregor said he is focused on winning Nokia Oyj as a customer for the company’s mobile-phone chips for the first time.
Wall Street Journal:
- Merck may consider settling a small number of cases involving its painkiller Vioxx, if patients who claim they were damaged fit certain criteria.
- Some mutual funds, seeking to boost returns, have been beating the market by acting as hedge funds.
- China’s environmental destruction as a result of fast economic growth has many middle-class Chinese worried as water is drained from parks, old palaces and wetlands.
- RealNetworks and Napster failed to reach an agreement with music copyright holders over how much to pay copyright holders for streamed music.
- The SEC has started an informal inquiry into Pixar computer animation film studios over its DVD release of “The Incredibles.”
- McDonald’s and Subway are finding the new fad for toasted sandwiches is harder to satisfy than expected.
NY Times:
- Northwest Airlines mechanics’ strike probably won’t lead to the airline to seek bankruptcy protection unless the walkout’s impact on operations worsens significantly.
Washington Post:
- Sirius Satellite Radio will have two channels devoted to radio host Howard Stern when his show begins airing in January.
Chronicle of Higher Education:
- More than 100 Iowa State University faculty members have signed a statement that denounces “intelligent design,” the theory that a higher being oversaw evolution, and asks colleagues not to suggest the concept is science.
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