Bloomberg:
- Emerging-market stocks are headed for the biggest monthly drop in more than 3 ½ years as the prospect of higher interest rates and a slump in prices of commodities caused some investors to pull out of the riskiest markets from India to Russia.
- ADC Telecom offered about $2 billion in stock to take over Andrew Corp.(ANDW).
- Mortgage applications in the US declined last week to the lowest level in four year as higher borrowing costs hurt home purchases and refinancing.
- More than 84,000 people in 145 countries will take the CFA exams this year, as record profits drive both investment banks and job candidates to try to boost their competitiveness.
- Crude oil fell for the first time in a week and gold declined after the US offered to join European talks with Iran if the country halts uranium enrichment.
- Fed policy makers were unsure three weeks ago about how much further to raise interest rates.
Wall Street Journal:
- India has the largest number of people with HIV/AIDS, exceeding the previous record set by South Africa, citing a UN report.
- Advanced Micro Devices(AMD) expects some personal-computer makers to soon begin selling systems based on a new group of technologies for managing digital media in the home as its seeks to compete with Intel’s(INTC) Viiv home entertainment product.
- Vonage Holdings(VG), whose shares dropped after an IPO last week, has offered to pay its underwriters back if its Internet phone customers refuse to make good on agreements to buy shares.
Weeden & Co.:
- Bill Gross, manager of the world’s biggest bond fund, cut his holdings of emerging-market debt.
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