Tuesday, October 11, 2005

Today's Headlines

- Apple Computer may introduce two new versions of its best-selling iPod digital music player tomorrow, according to ThinkSecret.com.
- Global oil consumption will average 83.4M barrels a day this year, 100,000 barrels a day less than forecast a month ago, the IEA said.
- The financial markets are poised to emerge a big winner from the recommendations of President Bush’s tax advisory panel, where a consensus is building to eliminate or reduce taxes on investment income.
- Inco Ltd. agreed to buy rival Canadian mining company Falconbridge Ltd. for as much as $10.9 billion to create the world’s largest producer of nickel.
- Billionaire investor Carl Icahn stepped up a campaign to force changes at Time Warner, calling for “bold action” to revive the company’s share price.
- Microsoft agreed to pay RealNetworks about $761 million as part of a settlement that removes one of the last major antitrust lawsuits brought by a Microsoft competitor.
- US Treasuries are falling and the dollar is rising on speculation today’s release of the Fed minutes will show policy makers are increasingly concerned about inflation.
- Japanese machinery orders rose more than expected in August as companies equipped new factories, adding to signs the world’s second-largest economy will expand for a fourth quarter.

Wall Street Journal:
- Drugmakers such as Bristol-Myers Squibb estimate that changes to the US Medicare system due to come into effect in January will probably have a negative effect on profit.
- The ad-fueled expansion of Google into free high-speed wireless Internet access in San Francisco may make it harder for cable and telephone companies to keep charging consumers for similar services.
- Sprint Nextel and other cellphone companies are rushing to tap growing demand for downloading videogames.
- Intel, Broadcom, Atheros Communications and Marvell Technology and 23 other companies plan to propose technological specifications to help speed up wireless data networks.

Washington Post:
- FEMA will reserve Gulf Coast reconstruction contracts for small, disadvantaged companies.

NY Post:
- TXU may spin off its electric delivery unit, possibly for more than $10 billion.

Lloyd’s List:
- Sudan will export about 500,000 barrels of crude oil a day from Port Sudan next year, 67% more than now.

Financial Times:
- Taiwan’s China Steel Corp. expects Chinese steel production to exceed domestic demand this year and next.

- Libya is studying plans to increase oil production from fields operated by its own companies, citing Energy Secretary Fathi Ben Shatwan.

- China exported 83% more steel products in the first nine months of this year, while imports of the metal fell 16.4%.

Al-Rai Al-Aam:
- Kuwait will offer companies $1.7 billion worth of contracts next year in its oil industry, almost 50% more than the average for the last six years.

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