Bloomberg:
- Bird flue is spreading more slowly as warmer weather in the Northern Hemisphere reduces the virus’s ability to survive in the environment.
- Crude oil may fall further as US refiners increase gasoline production in preparation for the summer driving season, raising stockpiles of the motor fuel, a Bloomberg survey shows.
- European Union finance ministers rejected a proposal to impose a windfall profit tax on oil companies.
- General Motors’ debt may be downgraded deeper into junk status by Moody’s after the automaker said it may have to use collateral when it renegotiates terms of a $5.6 billion line of credit.
- US Treasuries rose after lower-than-forecast job gains last month fueled speculation the Fed will “pause.”
- Crude oil production from OPEC increased 290,000 barrels a day in April from March. Production in Iraq rose 13% from the prior month.
Wall Street Journal:
- US mutual funds focused on growth, which used to be regarded as technology funds by another name, are returning to industries they haven’t looked at for decades.
NY Times:
- The Bush administration’s No Child Left Behind law, which requires testing of public school students, has created a demand for experts in developing, administering and scoring exams.
- Time Warner’s(TWX) AOL unit plans to offer the 41 million users of its instant messaging system a free phone number so that people can stay in touch with subscribers while they’re surfing the Internet.
- Johnson & Johnson(JNJ) told workers yesterday that it’s splitting its pharmaceuticals business into three major groups to boost profits by a tighter focus on drug development.
Chicago Sun-Times:
- Wm. Wrigley Jr. Co.(WWY) is testing a new gum flavored with coffee powder at convenience stores nationwide.
Ritzau:
- Denmark plans to extend its troop presence in Iraq by another year.
Ath-Thawra:
- Syria plans to build a $472 million farm to generate electricity from wind-powered turbines, with private investors from Germany.
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