Bloomberg:
- Yahoo! dropped out of talks to purchase a stake in Time Warner’s AOL unit, leaving Microsoft and Google as potential bidders.
- al-Qaeda claimed responsibility for three hotel bombings yesterday that killed at least 56 people in Amman Jordan. Thousands of Jordanians marched against the bombings and expressed support for their monarch, King Abdullah. “The Radisson SAS hotel, the Grand Hyatt Amman and the Days Inn hotels had been turned by the dictator of Jordan into a garden for the enemies of our religion, the Jews and the Crusaders,” AFP quoted al-Qaeda’s al-Zarqawi as saying. Casualty figures show the dead included 15 Jordanians, five Iraqis, three Chinese, a Saudi, a Palestinian and an Indonesian, while the bodies of 30 people have yet to be identified.
- US Treasuries surged after demand from overseas investors rose to a record in an auction of 10-year notes.
- Man Group Plc won an auction for parts of bankrupt futures broker Refco.
- Intel Corp. plans to spend $25 billion buying back stock, the second-largest share repurchase in the US behind Microsoft’s record $30 billion buyback.
- Crude oil and heating oil are falling to the lowest in more than three months after the IEA reduced its forecast for world oil demand for a fourth straight month.
Wall Street Journal:
- About half of all US seniors say they are likely to sign up for the new Medicare drug benefit, citing a poll.
- Bridgestone’s US tire-making unit has recommended a maximum life span, of 10 years, for passenger and light-truck tires.
- US drug companies are more reluctant than other industries to invest in China and India, because of concern about security and intellectual property, citing a survey by E&Y.
NY Times:
- Some US home-based entrepreneurs are seeking commercial real estate because of lack of room.
- King Pharmaceuticals will pay $150 million initially and as much as $150 million more to Pain Therapeutics for the rights to an abuse-resistant version of the painkiller OxyContin.
AP:
- The Chicago Merc will offer investors the opportunity to trade housing-price futures contracts, beginning in April.
NY Post:
- Median apartment prices in Manhattan fell 4.2% in the month of October.
- The NY Police Department plans to give 200 officers hand-held digital devices with data on arrest warrants and photos of wanted suspects.
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