Bloomberg:
- Junk bonds, the worst part of the US debt market, are offering the best returns, forcing analysts to revise forecasts for what was supposed to be a disappointing year.
- Goldman Sachs Group(GS) reported Wall Street’s highest-ever quarterly profit and revenue, powered by record trading and money-management fees.
- A rally in US Treasuries drove 10-year notes to their biggest gain since December after a government report showed retail sales fell last month.
- Chinese and Russian envoys to the UN said they can’s support Security Council action on Iran’s nuclear program that would go beyond backing for the world body’s nuclear watchdog agency.
- Crude oil is rising as Iran may review contracts with foreign oil and gas companies if the UN imposes sanctions because of its nuclear program.
Wall Street Journal:
- A bill pending in the US Congress would make it easier to organize mergers and acquisitions so as to avoid taxes.
- Mexico today plans to announce the discovery of an offshore oil field with reserves that may exceed those at Cantarell, the country’s largest tract, citing an interview with Mexican President Vicente Fox.
- Gobi Partners, one of the first technology venture-capital funds buying in China, faces competition form other firms, raising concerns about a glut of overseas money chasing Chinese companies.
- France is considering a law that would force Apple Computer’s(AAPL) iTunes online music service to permit songs to be downloaded to digital music players other than the iPod.
- The US energy industry is boosting investments in facilities for the importation of liquefied natural gas, amid forecasts that demand will exceed growth estimates.
Arab News:
- Saudi politicians in the kingdom’s Shoura Council called on the government of the Middle East’s No. 1 economy to halt a slide on the country’s benchmark Tadawul All Shares Index.
Nikkei English News:
- Sony Corp.(SNE) will delay the release of its new PlayStation 3 video-game console until early November to ensure the copy protection technology for the Blu-ray disc works.
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