- US Steel Corp.(X) CEO Surma said rival Arcelor, which is fighting a $22.4 billion hostile takeover from Mittal Steel, is unlikely to seek to acquire US Steel.
- London’s most expensive homes posted their biggest monthly increase in value in at least 20 years in January as bankers and traders started spending record bonuses, according to UK real-estate agent Knight Frank LLC.
- Sirius Satellite Radio(SIRI) posted a wider fourth-quarter loss after spending more on promotions during the holiday season.
- A campaign button depicting the embrace of President Bush and Democratic Senator Joe Lieberman is circulating among a group of Democrats attempting to organize a primary challenge to the 63-year-old Lieberman.
- Delphi Corp. set a new deadline of March 31 for asking a bankruptcy judge to void its labor contracts, union officials said.
- City officials in Volgograd, Russia, closed their own newspaper for printing a cartoon portraying Muhammad and other prophets amid violent protests in some Islamic countries over Muhammad cartoons in European publications.
- Penthouse Media Group plans to start its own television porn channel this year and may go public to help finance an expansion beyond magazines.
- Crude oil is rising after a report that Nigerian militants would declare war on oil companies.
Wall Street Journal:
- Merger and acquisitions funds, despite an increase in transactions, are showing “uninspiring” returns, citing S&P.
- Wilmer Cutler Pickering Hale & Dorr and other US law firms are gaining business defending companies from China in trade disputes.
- The FDA is seeking user fees from generic-drug markers to help fund reviews, in the same way major branded-pharmaceuticals and device makers do.
- If Mexico’s Grupo Televisa SA is to acquire Univision Communications(UVN) it must overcome some legal and social difficulties.
- KeySpan Corp.(KSE), the fifth-largest US natural gas distributor, is trying to sell itself and has attracted bids of more than $6.5 billion.
- Quadrangle Group LLC, a media and communications investment firm, will announce today that it is starting a head fund for which it eventually expects to raise $1 billion.
- New Orleans, much of which was destroyed by Hurricane Katrina last year, will hold its first Mardi Gras carnival since the destruction later this month.
- Chicago will seek proposals from technology companies this spring on how to build and offer wireless Internet access throughout the city.
- Eva Green, a French actress best known for her role in Ridley Scott’s drama Kingdom of Heaven, has been cast as the female lead in the new James Bond movie.
- China’s sales of personal computers will rise 50% to 30 million by 2008 from 20 million last year.
- Yemen’s auction of oil-exploration rights has attracted 63 companies from 25 nations, citing Oil Minister Khaled Mahfodh Ba-Haj.