Bloomberg:
- Emerging-market stocks dropped for an eighth day, set to round off their longest losing streak in more than a year, after US inflation report fanned concern interest rates will keep climbing in the world’s largest economy.
- Rising inflation makes a pause in the Fed’s series of 16 interest-rate increases “less likely,” said Richmond Fed President Lacker.
- The average rate on a 30-year fixed mortgage in the US rose to 6.6% this week, the highest in almost four years, according to Freddie Mac.
- Natural gas plunged to the lowest in 15 months in NY amid surging inventories that may fill US storage to capacity after mild winter and spring weather cut demand.
Wall Street Journal:
- Vonage Holdings faces a growing number of customer complaints as the Internet-based phone service prepares for a $494 million public offering that could come as early as next week.
- A US non-profit organization, Upwardly Mobile, is trying to direct professionally skilled immigrants to companies such as Google(GOOG), Wells Fargo(WFC) and Robert Half Intl.(RHI).
- Thomas Weisel Partners(TWPG) reached an agreement with Fidelity Investments to eliminate so-called “soft-dollar” practices in charging for research.
- GM’s(GM) employee buyout offer has attracted about 12,400 workers, citing the UAW.
NY Times:
- President Bush may hire military contractors including Lockheed Martin(LMT), Northrop Grumman(NOC) and Raytheon(RTN) to help provide better border security.
- The Palestinian government, led by Hamas, yesterday defied President Mahmoud Abbas by sending a new, largely Hamas security force to patrol the Gaza Strip.
- Electronic gizmos like photo-equipped cell phones, handheld computers and iPods loaded with recorded notes can facilitate cheating, forcing universities to take countermeasures.
Washington Post:
- Democratic Representative John Conyers wrote that he wouldn’t immediately begin impeachment proceedings against President Bush if the Democrats take control of the House and he becomes chairman of the House Judiciary Committee.
Die Welt:
- Siemens AG, Germany’s largest engineering company, plans to build new windmill factories in the US to meet rising demand.
USA Today:
- The Bush administration has briefed congressman 30 times on the National Security Agency’s surveillance programs since the Sept. 11 terrorist attacks.
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