Bloomberg:
- Ford Motor(F) may fail to meet its goal of returning to profit in North America by 2008 because of declining sales of SUVs, according to officials.
- The euro advanced after European Central Bank President Jean-Claude Trichet signaled interest rates will rise further to contain inflation.
- FedEx(FDX) said fourth quarter profit rose 27% as global economic expansion fueled deliveries.
- Goldman Sachs Group(GS) became the world’s largest hedge-fund manager after assets surged more than 85% in each of the past two years to $21 billion, according to Institutional Investor’s Alpha magazine.
- Morgan Stanley(MS) said fiscal second quarter earnings more than doubled, led by higher trading revenue and fees from arranging stock and bond sales.
- Iran will wait another two months before replying to a European Union offer of incentives aimed at encouraging the Islamic Republic to halt its uranium enrichment program.
- The Miami Heat won their first NBA championship last night by beating the Dallas Mavericks 95-92 behind 36 points from Dwayne Wade, who was named MVP of the series.
Wall Street Journal:
- China Mobile Communications is close to buying Millicom Intl.(MICC) of Luxembourg for $5.3 billion.
- Huawei Technologies and other Chinese companies are finding it harder to invest in India because of that nation’s growing national security concerns.
- The US Agriculture Dept. plans to start a voluntary livestock identification program next year after failing to adopt a national system for most farm animals.
- The US beer company, Anheuser-Busch(BUD), is considering entering the liquor industry, as beer sales slow.
NY Times:
- A group lead by Grupo Televisa SA allowed a bidding deadline for Univision Communications(UVN) to expire yesterday because partner Carlyle Group dropped out over a disagreement on the price.
- Two senators are expected to introduce a bill that would alter how drugs are tested and approved in the US.
Washington Post:
- Target Corp.(TGT) has licensed its logo to consulting firm Brand Central LLC to use in a new luxury clothing line.
AP:
- Gambling revenue at American Indian casinos rose about 16% last year to almost $23 billion, as tribes added amenities and boosted marketing to attract more visitors, citing the Indian Gaming Industry Report.
Reuters:
- Royal Dutch Shell Plc’s Nigerian venture added 50,000 barrels a day of oil production after a pipeline leak from earlier this month was repaired.
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