- MovieBeam Inc., backed by Walt Disney(DIS), is taking on video-rental stores with a system that transmits the latest movies to homes for as little as $1.99 each.
- General Motors(GM) will announce today that it’s investing $500 million in five Michigan factories.
- Research In Motion(RIMM)’s Blackberry services will stay up and running “no matter what happens,” Co-Chief Executive Officer James Balsillie said in an interview.
- Coca-Cola(KO) said billionaire investor Warren Buffett won’t stand for re-election to the company’s board.
- US Treasury notes are dropping after a government report showed retail sales last month grew at the fastest pace since May 2004.
- Crude oil is falling below $60 a barrel and gasoline futures dropped to the lowest level in almost a year as traders ignored colder weather and worries over Iran and focused on deteriorating fundamentals for the commodities.
Wall Street Journal:
- Sun Microsystems(SUNW) will announce today technical information to help programmers to adapt Linux or other operating systems to a new range of servers that use the company’s Sparc chips.
- The US will step up its enforcement of existing trade rules with China rather than create new policy.
- US utility companies such as PG&E Corp.(PCG) are offering rewards to customers who use less energy.
- US money manager BlackRock(BLK) aims to branch out from big investors and the bond market to individuals and stock investing with its proposed $8.4 billion transaction with Merrill Lynch(MER).
- KB Home(KBH) said it its annual report that cancellations of home orders have risen and the number of orders has dropped in the past two months, as US housing starts have fallen.
USA Today:
- The US military says 40% of Iraq’s combat battalions have taken the lead role in fighting insurgents, a sign of their greater effectiveness and a measure of when US troops can return home.
Washington Post:
- The Virginia Senate voted to ban smoking in state workplaces, restaurants and bars.
NY Times:
- More than a third of NY high school students failed to graduate on time in 2005, citing State Education Commissioner Richard P. Mills.
- NY is developing a city-branded condom that may help measure the effectiveness of its free condom distribution program, citing the Health and Mental Hygiene Dept.
- Paul Hackett, an Iraq war veteran and popular Democratic candidate in Ohio’s US Senate race said he is dropping out of the election and leaving politics because of pressure from Senators Harry Reid and Charles Schumer. Hackett said he learned that Democratic party leaders were calling his campaign contributors and asking them to stop donating money.
- The Center for Union Facts spent $240,000 to run full-page ads in three newspapers yesterday as part of its campaign to get the truth out about organized labor.
Chicago Tribune:
- Abbott Labs(ABT) has purchased 500 acres of land in Pleasant Prairie, Wisconsin, for about $30 million and may use it to expand.
Chronicle of Higher Education:
- S&P said the financial outlook for US public and private colleges and universities remains stable.
China Daily:
- China is drawing up an alternative-fuel strategy that will be part of the country’s new development plan for the five years through 2010.
- China will seek wider uses of agriculture biotechnology and increase investment in safety monitoring of gene-altered crops.
ThisDay:
- OPEC has told Nigeria and Saudi Arabia that they can boost oil production by a combined 2 million barrels a day, citing the head of Nigeria’s state oil company.
Ansa:
- Italian Reforms Minister Roberto Calderoli today began wearing a T-shirt sporting copies of the Danish cartoons of the prophet Muhammad that sparked international protests by Muslims.
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