Bloomberg:
- US Representative Tom Delay was indicted by a Texas grand jury on a single count of conspiracy.
- Gasoline and crude oil rose on speculation that supplies will fall because Hurricane Rita shut refineries and platforms.
- US Treasury Bonds are rallying as high energy prices increase speculation of an economic slowdown.
Wall Street Journal:
- Celgene Corp. may face concerns over the safety of its experimental blood cancer drug Revlimid after a clinical trail was suspended, citing the principal investigator of the study.
- Valero Energy, Tesoro Corp. and other US gasoline refiners are finding it increasingly difficult to decide whether to keep pumping gas or halt operations for scheduled maintenance.
- Dell is expected to announce a new line of desktop and notebook personal computers with prices between $1,100 to more than $6,000 aimed at more affluent customers.
- Morningstar, Reuters Group Plc, and a small New Jersey company, Sky Fund, are trying to fill a gap in the market by developing dependable ratings of hedge funds.
- New Orleans public schools will need massive repairs and reorganization after Hurricane Katrina set back efforts to turn around the corruption-plagued system.
- UPS may be hurt by a Dell decision to ship many computers to US post offices for customer pick-up rather than to buyers’ homes.
NY Times:
- NRG Energy Inc., the owner of power plants in 14 US states, is in advanced talks to acquire Texas Genco Holdings for at least $5 billion.
Financial Times Deutschland:
- Royal Philips Electronics NV, Europe’s biggest maker of televisions, expects the price decline for flat-panel televisions to end because of higher demand.
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