Bloomberg:
- The National Retail Federation raised its sales forecast to 6% from an estimate of 5% two months ago, citing strong October gains and a decline in gas prices.
- Nokia Oyj and Motorola, the world’s two largest mobile-phone makers, widened their lead over smaller competitors in the third quarter on demand in emerging markets.
- French consumer spending on manufactured goods unexpectedly fell for a second month in October, suggesting momentum in Europe’s third-largest economy is slowing further.
- Crude oil and heating oil rose for a second day as speculation increased that demand is rising because of colder weather in the US and Europe.
- Microsoft released its Xbox 360 video-game console across the US, a machine Chairman Bill Gates says will let the company wrest control of the $28.5 billion industry from Sony Corp.
- Value Capital LP, a $570 million hedge fund backed by billionaire investor Warren Buffett, may report an annual loss for the first time in seven years after making a bad bet on US interest rates.
Wall Street Journal:
- Time Warner’s AOL unit wants to use instant messaging to boost traffic to AOL’s other Web sites on which it carries advertising.
- IAC/Interactive Corp., Time Warner’s AOL and other US companies are investing in Brightcove, a startup company developing technology to make television on the Internet easier.
- US manufacturers can’t find enough skilled workers and the shortfall is disrupting their ability to supply customers.
- Many US physicians have stopped issuing prescriptions for the Ortho Evra contraceptive patch since the FDA warned this month of increased hormone exposure for women who use it.
- Many US investors see rosy prospects for pharmacy shares, given the aging population and the proliferation of generic pharmaceuticals that are cheaper for individuals and more profitable for drugstores.
AP:
- Representative Tom DeLay’s lawyers will ask a judge for dismissal of conspiracy and money-laundering charges.
National Post:
- Almost half of Canadians say they should be allowed to buy health-care services from private companies to bypass waiting lists at public hospitals, citing a new poll.
NY Times:
- JPMorgan Chase is starting a mutual fund that will be accessible to investors with $10,000 and will be managed by its hedge fund unit.
- Russian Muslims are being monitored by an agency reminiscent of the Soviet era, as Islamic faith and militancy are on the rise.
- More US colleges now offer formal programs in video game design and the academic study of games.
- Goldman Sachs Group has set out an environmental policy that commits itself to investing $1 billion in alternative energy projects and would spend $5 million to set up a research center on the free market and the environment.
San Francisco Chronicle:
- Visa USA is offering a medical debit card for members of participating Blue Cross and Blue Shield Association companies to use with their flexible savings or health savings accounts.
Dow Jones:
- Newmont Mining is mulling a takeover offer for Placer Dome that may rival an unsolicited $9.2 billion bid last month by Barrick Gold.
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