Bloomberg:
- The crown jewel in Pfizer’s(PFE) research pipeline, a new type of cholesterol drug the company says is key to future growth, may be sold in the US years earlier than doctors and investors expect.
- Commercial construction, one of the last industries to recover from the most recent recession, is poised for the best year since 2001, contributing more to economic growth just as homebuilding starts to ebb.
- Saudi Arabia, seeking to stem a slump in its stock market, will allow foreign residents to buy shares directly from the local exchange for the first time.
- US Treasuries due in 10 years or more are rising on speculation Fed Chairman Bernanke will signal that low long-term yields won’t influence interest-rate policy.
- Crude oil is falling as US inventories approached a seven-year high, easing concern about supply disruptions in Nigeria and Iran.
Wall Street Journal:
- General Motors’(GM) board demanded an inquiry into accounting mistakes that forced the carmaker to postpone filing its annual report and that might delay the planned sale of all or part of GMAC, its financing unit.
- Michaels Stores(MIK), the biggest US arts-and-crafts retailer, may say that it will examine alternatives including sale of the company.
- Citigroup(C) has tackled weakness in its regulatory controls and improved its corporate-governance practices.
- Cray Inc.(CRAY), which makes supercomputers used by scientists and engineers, will announce a new design in an attempt to improve the fortunes of the company.
- Pioneer Telephone Cooperative, an Oklahoma rural phone company, has begun to install technology to connect its Internet-based television service by wireless to home television sets.
- AT&T(T), Time Warner(TWX) and other phone and cable companies that tried to stop cut-rate or free wireless Internet access in cities are now trying to enter the municipal Wi-Fi market.
- “Life-cycle” funds, which alter periodically the mix of stocks and bonds they hold, in line with people’s changing needs as they age, are growing in popularity.
NY Daily News:
- The Newspaper Assoc. of America is starting a $50 million campaign to lure advertising in the face of declining circulation and smaller market shares.
NY Post:
- Ford Motor(F) is being asked by politicians to make a gasoline-electric model of its Crown Victoria sedan, the most popular vehicle for taxis in NYC.
USA Today:
- US military deaths in Iraq fell last month close to their lowest level since the insurgency began two years ago.
NY Times:
- For the first time since 1981, the US Supreme Court will hear a case this week that involves discerning what kind of inventions can be patented.
- Verizon Communications(VZ) wants to buy Vodafone Group’s(VOD) 45% stake in the company’s wireless operations so it can book 100% of the profits.
San Jose Mercury News:
- Microsoft(MSFT) is developing a handheld entertainment device that combines games, music, and video.
Business Standard:
-.One vehicle is sold every 10 minutes on EBay India’s business-to-business Web site.
Dagens Industri:
- Ericsson AB(ERICY) is taking market share and expects to continue doing so, citing CEO Svanberg.
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