Friday, October 07, 2005

Today's Headlines

- Energy stocks are headed for their biggest weekly losses in more than three years as falling demand sent crude-oil prices tumbling.
- Warren Buffett’s Berkshire Hathaway said Ronald Ferguson, former CEO of its General Re reinsurance unit, may be sued by the Securities and Exchange Commission.
- The International Atomic Energy Agency and its director general, Egyptian Mohamed ElBaradei, won this year’s Nobel Peace prize for their work to prevent the military use of nuclear energy even as Iran and North Korea threaten to destabilize the world with recent advances in their nuclear capabilities.
- US 10-year Treasuries are rising after yields exceeded 4.4%, the highest since April and a level some traders said represented a buying opportunity.
- Delphi stock and bonds plunged to record lows on speculation that the biggest US maker of auto parts will file for bankruptcy as soon as today and as prospects dimmed for concessions from the United Auto Workers union.
- A US appeals court rejected a bid by Research in Motion for another chance to challenge a patent infringement ruling that may block the Canadian company from selling its BlackBerry e-mail device in the US.
- The US dollar is rising for the first day in three after the US economy’s job losses last month were less than a quarter of the number forecast by economists.

Wall Street Journal:
- Time Warner and Microsoft restarted talks from earlier this year about a partnership between Internet units AOL and MSN.
- New Orleans may have to destroy as many as 50,000 homes as a result of damage caused by Hurricane Katrina.

Washington Post:
- Former FBI Director Louis Freeh said he didn’t trust President Clinton when he was in office and stayed in his post as long as he did so Clinton couldn’t name his successor, citing a forthcoming book and appearance on CBS’ “60 minutes” by Freeh.

NY Times:
- Al-Qaeda deputy leader Ayman al-Zawahiri has warned Abu Musab al-Zarqawi, the group’s self-described leader in Iraq, that videotaped beheadings posted on the Internet and attacks on Iraqi civilians may undermine their cause.

Chicago Tribune:
- Real estate prices for retailers on Chicago’s State Street, a major downtown shopping area, have risen in the past year as construction approaches for two new projects.

San Francisco Chronicle:
- San Francisco’s vacancy rate for commercial real estate fell to 13.1% in the third quarter, the eighth straight quarterly decline since the beginning of 2003.

- Hewlett-Packard plans acquisitions in areas including enterprise storage systems, printers and services.

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