Bloomberg:
- Hard Rock Intl. is planning a $1 billion casino hotel in Atlantic City, New Jersey, the 13th in that city.
- General Motors(GM) may announce an agreement Monday to sell control of its finance unit to investors led by Cerberus Capital.
- Paris strikes and riots may scare away tourists during peak tourist season.
- Barton Biggs said US stocks may rise more than 20% this year, led by larger US technology companies such as Intel(INTC) and Cisco Systems(CSCO) as capital spending increases.
- Crude oil is falling the most in almost two weeks as concern eased over supply disruptions from Iran and as a damaged pipeline in Nigeria was repaired.
Wall Street Journal:
- China faces rising protectionist sentiment at home as growing foreign investment puts more Chinese companies under competitive pressure.
- Chinese telecom companies are resisting a government suggestion that domestic technology should be used to update wireless telephone systems over the next two years.
- China has become a world force in the use of solar power to provide hot water in homes.
- More US households are giving up traditional phones in favor of mobiles, citing Forrester Research.
- Hewlett-Packard(HPQ) flat-panel televisions incorporating Internet-ready technology will be sold at Best Buy(BBY) stores beginning next month.
NY Times:
- Federated Dept. Stores’(FD) Macy’s, Nordstrom(JWN) and QVC Inc. have begun selling clothes from women using a new universal size system, in an experiment to standardize how items fit.
- US African Americans are increasingly gaining access to, and becoming comfortable with, the Internet, signaling the closing of the so-called digital divide.
- Some personnel at ESPN disagree with the cable sports network’s decision to televise a reality series about San Francisco Giants outfielder Barry Bonds.
- Insurers that offer supplemental insurance for Medicare recipients are using the new prescription drug benefit to attract new customers.
Reuters:
- Comcast(CMCSK) and Time Warner(TWX) executives said they support Cablevision Systems’(CVC) plan to allow subscribers to record programs on the company’s computer servers.
Moscow Times:
- Russia’s Cabinet approved measures to draft more men into the military.
AFP:
- Iran will not use its crude oil supplies as a lever in a dispute with western countries over its nuclear program, citing Foreign Minister Mottaki.
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