Bloomberg:
- The US-led multi national force in Iraq officially handed over military control of Baghdad to the Iraqi Army’s Sixth Division, the US military said.
- Delphi Corp. and several former and current senior executives engaged in a series of sham sales of worthless inventory designed to boost the company’s bottom line, shareholders claim in a lawsuit in NY.
- US Treasuries are rising for a second day after an index showed the biggest part of the US economy in September was weaker than forecast.
- Crude oil retreated after a government report showed that US fuel demand fell last week when refinery operating rates plunged because of Hurricane Rita.
Wall Street Journal:
- President Bush urged Congress to help find funding for relief efforts after Hurricane Katrina by trimming the growth in entitlement programs.
- Asian stock markets are booming and benchmark share indices in India, South Korea and Australia have reached records recently, but analysts warn that high energy prices and rising interest rates might curb the rally.
- Honda Motor plans to introduce cars designed to help transport pets.
- Mazda Motor will introduce a concept car this month that runs on a combination of gasoline, electricity and hydrogen, citing the engineer and manager in charge of the automaker’s hydrogen-fuel program.
NY Times:
- Delphi, the biggest US auto-parts supplier, is ready to file for bankruptcy as early as this week.
- Drugmakers such as Pfizer and Sanofi-Aventis SA are investing in treatments that stimulate the human immune system against diseases such as cancer and hepatitis.
- Hackers could disrupt cellular networks in US cities by sending more text messages than the systems can handle.
Boston Globe:
- Genzyme Corp. plans to begin building a research laboratory in Framingham, Massachusetts, which is part of a $210 million expansion of manufacturing and research.
USA Today:
- The acting chief of FEMA promised to meet an Oct. 15 deadline set by President Bush to move Hurricane Katrina evacuees out of shelters and at least offer them temporary housing.
Nihon Keizai:
- Toyota Motor has raised its stake in its fuel cell venture with Matsushita Electric Industrial to 60% from 40%.
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