Bloomberg:
- Oil-tanker rates for shipments from the Middle East to Asia fell to the lowest level in almost seven months because of a surplus of vessels available for hire.
- President Bush said Iraqi leaders are returning to negotiations to try to form a government that can unite Shiite, Sunni and Kurdish factions.
- Israelis are voting in an election that has turned into a referendum on acting Prime Minister Ehud Olmert’s plan to abandon talks with the Palestinians and for the country to fix borders by itself.
- French students and labor unionists marched through Paris today, leading a fourth nationwide day of violent protests against a new youth labor law.
- Oil rose to a seven-week high on speculation that a government report will show US gas inventories fell for a fourth straight week.
- The Federal Reserve, beginning a new era under Chairman Bernanke, raised the main US interest rate to 4.75% and held out the prospect of further increases.
- US Treasuries declined, driving the two-year yield to almost a five-year high, after the Fed raised rates for the 15th straight time.
Wall Street Journal:
- Hewlett-Packard’s(HPQ) shares, which have been on a hot streak since the company named Mark Hurd as chief executive officer almost a year ago, may be cooling.
- The American Stock Exchange expects a fund that tracks crude-oil prices to start trading on Monday.
- Hartford Financial Services Group(HIG) said it will sell life insurance at its regular rates immediately after surgery to men with moderate levels of prostate cancer.
- France’s nuclear energy program is drawing international attention because of its success in reducing dependence on foreign energy supplies and cutting greenhouse gases.
- General Motors’(GM) Buick minivan is the car of choice among China’s business elite.
- Capitol Reader, an Internet-based readers’ service, provides booklovers with condensed versions of the political and public-affairs books they’re interested in but lack time to read.
- Southern Co.(SO), Wal-Mart Stores(WMT) and other US companies are drafting proposals to curb emissions of carbon dioxide and other so-called greenhouse gases.
- Cablevision Systems(CVC) will test a digital-video recorder that lets customers store programs on the company’s network rather than on a box in their homes.
NY Post:
- Jajah Inc., an Internet telephone startup, has the backing of Sequoia Capital Ltd., a venture capital firm that was an early supporter of Google(GOOG) and Yahoo!(YHOO).
NY Times:
- The number of US households with a net worth of $1 million or more, excluding main residences, rose to an all-time record 8.9 million last year, citing researcher TNS Financial Services.
- Google Inc.(GOOG) is boosting its lobbying and legislative operations as it seeks to catch up with competitors such as Yahoo!(YHOO) and Microsoft(MSFT) in Washington.
- US Helicopter Corp. began hourly shuttle service yesterday between Manhattan and John F. Kennedy International Airport for $139 each way, cutting the travel time to less than 10 minutes.
- The Arab League agreed on a plan to boost their diplomatic presence in Iraq.
Financial Times:
- The Bond Market Association will publish guidelines today to increase flexibility in the US market for borrowed bonds.
Gulf News:
- Lehman Brothers(LEH) plans to open offices in Dubai and Qatar to tap oil-driven wealth in the Middle East.
- Nasdaq Stock Market(NDAQ) is discussing listing opportunities with companies in the Persian Gulf.
Chronicle of Higher Education
- Public universities in Canada cost more to attend than those in the US, citing a study.
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