Bloomberg:
- Merrill Lynch(MER), preparing for its biggest expansion since the 1990s, plans to buy a mortgage lender, triple its corporate investments and increase trading bets to boost shareholder returns that trail those of rivals.
- Pfizer won US approval today for Chantix, a new prescription drug to help cut nicotine cravings in millions of Americans trying to quit smoking.
- Pope Benefict XVI denounced gay marriage, saying “only the foundation of complete and irrevocable love between man and woman is capable of forming the basis of a society that becomes the home of all men.”
- Crude oil rose over $73/bbl. on continuing record speculation as geopolitical concerns persist.
Wall Street Journal:
- Verizon Wireless(VZ), Sprint Nextel(S) and other carriers have begun restricting Internet access to customers who use large amounts of wireless transmission capacity.
- US computer companies, such as Affordable Internet Services Online, are developing power-efficient products as they seek to drive down their energy costs.
- US Republicans plan a series of votes in Congress on energy-related proposals including measures to address vehicle fuel efficiency and opening new areas to oil drilling.
- XM Satellite Radio(XMSR) and Sirius Satellite Radio(SIRI) both started broadcasting between four and five years ago, and XM has had more success in getting institutions such as mutual funds to buy its shares.
NY Times:
- Christian leaders, who say author Dan Brown’s “Da Vinci Code” is a slander of Jesus Christ, are preparing a variety of protests against the Sony Pictures movie to be released May 19.
Washington Post:
- Some established immigrants in the US want to restrict newcomers, saying they aren’t properly assimilating with US society.
Reuters:
- The German economy grew .4% in the first quarter from the fourth quarter last year.
MarketWatch:
- Novartis AG plans to build a US plant that will use advanced technology to produce avian-flu vaccine faster for the US market.
Estrategia:
- Grupo Mexico SA, the biggest copper producer in Mexico, plans to begin exploring for new deposits of the metal in northern Chile.
AFP:
- European Union regulators plan to issue a formal complaint against Microsoft(MSFT) regarding the company’s fees for licensing Windows software.
21st Century Business Herald:
- China’s central bank may ask lenders to increase down payments for homes to as much as 50% of their value from a minimum 20% to curb prices.
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