Bloomberg:
- Warren Buffett, struggling to find acquisitions big enough to boost Berkshire Hathaway’s(BRK/A) returns, is making a $14 billion bet on the global stock market.
- Emerging market debt, up an average of 16.7% a year since 2002, will have difficulty continuing to rally, said Mohamed El-Erian, who runs Harvard University’s endowment.
- General Motors(GM) sold a majority of its GMAC unit to a group led by Cerberus Capital Management LP for $7.4 billion.
- Verizon Communications(VZ) agreed to sell its Caribbean and Latin American operations to Carlos Slim’s America Movil SA for $3.7 billion to reduce debt.
Wall Street Journal:
- Iraq may be better positioned to set up a government of national unity after a split among Shiite political parties and the increasing isolation of the radical cleric Muqtada al-Sadr.
- Hewlett-Packard(HPQ) CEO Hurd has made reorganizing the company’s corporate sales force a top priority after complaints from customers they didn’t know whom to contract.
- Constellation Brands(STZ) is close to an agreement to buy Canadian winemaker Vincor Intl. for about $1.05 billion.
- ProFunds’ Ultrashort Japan fund is aimed at helping investors to bet against Japan’s stock market by rising twice as much on a percentage basis as any decline in the US-traded, dollar-based Nikkei 225 futures contract.
- Movielink LLC, a movie downloading service, will allow broadband Internet users to legally purchase and retain electronic copies of new and catalog films starting tomorrow.
Boston Globe:
- Mercury levels in yellow perch near certain Massachusetts incinerators fell 32% in the past seven years, since the state enacted the nation’s toughest emission laws for the toxic metal.
NY Times:
- China’s trade surpluses may move toward a balance as labor shortage at factories push up wages.
- Conde Nast Publications upgraded Brides.com and plans magazine Internet sites for teenage girls and business as it increases its commitment to the Web to compete with rivals.
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