Bloomberg:
- Iraqi President Talabani told the Washington Post that the US might remove 50,000 troops, more than a third of its force, by the end of the year because Iraq’s own security personnel can replace them.
- Brown-Forman, maker of Jack Daniel’s and Southern Comfort, and UK billionaire Richard Branson will introduce Virgin Vines, a line of wines geared toward young adults.
- Toyota Motor said all its vehicles may eventually be run by hybrid gasoline-electric motors, as record fuel prices curb demand for conventional autos.
- Nokia Oyj raised its revenue and profit forecasts for this quarter as handset sales exceeded the company’s expectations.
- Power may be restored to the center of New Orleans and the historic French Quarter in as soon as a week, clearing the way for more businesses to return.
- US 10-year Treasuries rose the most in almost two weeks after a government report showed wholesale prices increased less than forecast in August.
Wall Street Journal:
- Amazon.com will introduce a service today that will sell gift certificates in exchange for change at Coinstar coin-counting machines in the US.
- Goldman Sachs’ private-equity unit has made an unsolicited expression of interest in acquiring US-based computerized lottery operator Gtech Holdings.
- GM CEO Wagoner said the world’s largest automaker “will continue to tighten capacity” in the US and continue to cut its workforce.
- The SEC will probably give small companies another year to comply with a Sarbannes-Oxley rule designed to improve controls over financial reporting.
- Churches from the southern US are sending an average of six buses a day to Baton Rouge’s convention center to help Hurricane Katrina survivors who have taken shelter there.
- PowerShares WilderHill Clean Energy Portfolio, a US exchange-traded fund that concentrates on alternative-energy companies, saw its assets grow 58% in the two weeks ended Sept.9, during which Hurricane Katrina devastated the Gulf coast.
NY Times:
- The US is seeking to build 30,000 homes every two weeks that may reach 30,000 within weeks in a bid to bring back people to Louisiana, Mississippi and Alabama in the wake of Hurricane Katrina.
Kuwait News Agency:
- Algeria, Africa’s third-largest oil producer, plans to boost output by 23% next year to 1.6 million barrels a day.
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