Bloomberg:
- Venezuela said it plans to seize as many as 50 of the country’s large farming estates this year as part of a land redistribution plan.
- Sprint Nextel CEO Forsee told CNBC the wireless carrier is now combining the networks of Sprint and Nextel and is expected to be finished by 2008.
- Sandy Berger, the US national security adviser under President Clinton, was arrested again two days after being sentenced for taking classified documents from the National Archives, violating his probation.
- The two-year rally in oil prices and stocks such as BP Plc is over for now as surging energy costs hurt demand, said Neil McMahon, an analyst at Sanford C. Bernstein.
- GE said third quarter profit rose to the high end of its forecast.
- The euro is rising the most since January 2004 against the dollar after the European Central Bank President Jean-Claude Trichet said the bank is prepared to raise interest rates for the first time since 2000.
- Crude oil is tumbling to a 2-month low and gasoline slid for a sixth session as US fuel imports surged and demand fell.
Wall Street Journal:
- Gains this year for emerging market debt may be coming to an end, according to “market watchers.”
- The Jewish Family Services and other community assistance and refugee organizations are starting to step in to help provide assistance to victims of Hurricane Katrina.
- US House Committee on Resources Chairman Richard Pombo and Florida Governor Jeb Bush are close to an agreement to exempt some states from federal restrictions on offshore drilling for natural gas on federal land.
- AT&T and MCI Inc. will intensify their longstanding rivalry for business customers after they are separately acquired by Verizon Communications and SBC Communications.
NY Times:
- As much as 80% of operations at the Port of New Orleans remain closed a month after Hurricane Katrina came ashore.
- Video companies are turning directly to the Internet to lure viewers instead of trying to work with movie studios and television networks as a way to gain TV audiences.
Washington Post:
- The FDA may soon clear for human consumption milk from cloned animals and meat from their naturally reproduced offspring.
- France, for the first time in history, is distilling some of its fine wines into fuel because of a worldwide wine glut.
Boston Globe:
- The Massachusetts Senate will vote today on a bill that would allow as many as 2,000 slot machines at the state’s four racetracks.
Financial Times:
- The International Organization of Securities Commissions, a global body for financial market regulators, has begun investigating hedge funds’ increasing influence.
Kauppalehti:
- Nokia Oyj’s handheld device for e-mail messaging and Internet browsing will be delayed by a few weeks because it took longer than expected to complete the device’s software.
Kyodo:
- Japanese Prime Minister Junichiro Koizumi asked his ruling Liberal Democratic Party to devise a plan to slash the number of central and local government workers by 20% over a 10-year period.
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