Bloomberg:
- Wal-Mart Stores(WMT) said February sales rose 3.2%.
- World oil markets are oversupplied and pose the risk of “dramatic” price declines, OPEC President Daukoru said.
- Shoppers curbed spending at US retailers in February after a very strong January and the onslaught of colder weather.
- Russian Economy Minister Gref said the quality of economic growth is declining and he is “very afraid” there may be a sudden drop in stock prices.
- Microsoft Corp.(MSFT) accused European Union regulators of arranging “secret contacts” between its competitors and cast doubt on the independence of an EU-appointed monitor.
- US health officials have drafted guidelines to help speed approvals of new vaccines against pandemic and seasonal flu.
- Natural gas is falling again, down 58% from highs, as traders focus on a supply surplus that is 48.2% above the five-year average
Wall Street Journal:
- Cooperation between the US SEC, the Federal Reserve Bank of NY and Britain’s Financial Services Authority in the area of credit derivatives illustrates the extent to which regulators are cooperating across national boundaries.
- The possible offer by investor Carl Icahn and Steel Partners Ltd. for South Korea’s KT&G Corp. shows how US hedge funds ad other investors are taking corporate-raider tactics to the rest of the world as the cash they have to spend grows.
- The FDA distributed its first safety instructions for makers of fresh-cut fruit and vegetables.
- Del Monte Foods(DLM) is in the last stages of negotiating for the acquisition of Meow Mix.
- Morgan Stanley(MWD), HSBC Holdings PLC, Standard Chartered PLC and other global banks are expanding in Dubai as the United Arab Emirates sheikhdom builds a world-class financial center.
- BellSouth(BLS) and other US telecom companies are reviewing new rates for high-speed Internet access that would require consumers to pay extra if they use more services.
- James Gorman, new head of Morgan Stanley’s(MWD) retail brokerage unit, has changed its name to Global Wealth Management Group.
- An earnings restatement this week by Doral Financial(DRL), Puerto Rico’s biggest mortgage lender, has persuaded many that some of the island’s banks are run more like private clubs than public companies.
- Honeywell(HON), which has lost its position as the main supplier of standard cockpit equipment for Boeing(BA) jets, hopes new aviation-safety technologies will boost its profits and stock price.
- Cartier, the luxury goods unit of Cie. Financiere Richemont AG, Italy’s Bulgari S.p.A and other jewelry makers are copying fashion cycles with seasonal collections of jewelry.
USA Today:
- The US Congress may require every job applicant in the country to show a Social Security card with personal data coded into it electronically.
NY Post:
- More than 24 million Americans between the ages of 15 and 29 identify with hip-hop culture, and their spending power may rise 30% by 2010, citing a report released yesterday from MarketResearch.com.
NY Times:
- Yahoo!(YHOO) is scaling back plans to introduce original television-style shows on its Web site, citing Lloyd Braun, the head of its media group.
- The percentage of US women working outside the home has fallen since the terrorist attacks in 2000, helping to push the overall labor participation rate lower.
- TiVo Inc.(TIVO) plans to begin offering parents an option in June to enable their digital video recorders to limit the shows their children can watch based on certain family programming ratings.
Newark Star-Ledger:
- Atlantic City casinos will ask New Jersey legislators to approve hand-held gaming devices that let gamblers play away from the casino floor.
New Scientist:
- Sharks could be used as “spies” if a research project funded by the US Defense Department bears fruit.
El Moudjahid:
- Algeria’s state-owned energy group Sonatrach discovered a crude-oil field in eastern Algeria. It is the second new discovery this year in the nation.
AppleInsider:
- Apple Computer(AAPL) may add a movie download service to its iTunes online store.
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