Bloomberg:
- Iberdrola SA, the largest owner of wind-power plants, bought a US developer and will study building projects in China.
- The United Nations Security Council is preparing a “stiff message” for Iran on its nuclear program, a senior US diplomat said today, as Iran announced that its scientists have raised their uranium enrichment to 4.8%.
- General Motors(GM) and Ford Motor(F) said US sales fell in April and their biggest Japanese rivals gained as rising gasoline prices pushed buyers toward models with increased fuel economy.
- Ford reported a 15% plunge in truck sales and a 8% increase in car sales during April as sales of hybrid vehicle reached all-time highs.
Wall Street Journal:
- Intel Corp.(INTC) said it will invest $1 billion over five years to help offer more access to technology and education in developing countries.
- Smith Barney, Citigroup’s(C) brokerage subsidiary, plans to reorganize its supervision of foreign investors’ accounts, upsetting brokers at the firm.
- US regulators are looking at the propriety of some so-called life settlements, or arrangements where companies buy the right to death benefits from a stranger’s insurance policy.
- US auto dealers and automakers are boosting sales incentives including free gas as high interest rates and fuel prices curb sales.
- US researchers are finding that marijuana may be more addictive than is generally perceived, citing a compilation of studies published by Cambridge University Press.
- A US SEC official said that there are no legal hurdles to separating the fees mutual fund managers pay brokerage companies for research on investments.
- Salaried lawyers at big US law firms are working fewer hours or dropping plans to make partner, as more and more associates are leaving firms altogether to focus on their families.
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