Bloomberg:
- Procter & Gamble won approval from the US Federal Trade Commission for its $57 billion purchase of Gillette after agreeing to divest Gillette’s Right Guard deodorant and Rembrandt tooth-whitening brands.
- Gasoline futures in NY fell for a second day on signs that high prices are cutting demand from motorists.
- US Treasuries are falling after a manufacturing report for the Chicago region was much stronger than expected.
Wall Street Journal:
- Referrals by doctors in the more than $40 billion US medical laboratory testing business have come under scrutiny over whether physicians are profiting by sending work to outside labs that offer discounts.
- New Jersey, Michigan, Oklahoma and 10 other states have agreed to participate in a computer program that would add local taxes to residents’ purchases over the Internet.
NY Times:
- The cost of using natural gas to heat homes in the US may rise about $400 per household to an average $1,130 this winter because of tight supplies.
Financial Times:
- Philadelphia Federal Reserve Bank President Anthony Santomero said he expects US economic growth to rebound from a second-half slowdown caused by Hurricanes Katrina and Rita.
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