Bloomberg:
- Barr Pharmaceuticals(BRL) agreed to buy Pliva d.d., eastern Europe’s biggest drugmaker, for $2.2 billion in cash, topping a bid from Iceland’s Actavis Group hf.
- The Hamas and Fatah movements, which share control of the Palestinian Authority, today agreed to back a document that implicitly recognizes Israel’s right to exist.
- Intel Corp.(INTC) agreed to sell a unit that builds chips for devices such as the BlackBerry to Marvell Technology Group.(MRVL) for $600 million as the company slashes costs and seeks to regain market share in its bigger businesses.
- Copper is falling 4% on mounting concern that the world’s central banks will continue to boost interest rates to combat inflation, slowing the economy and demand for metals.
- Henry Paulson, President Bush’s nominee for US Treasury Secretary, said “low” tax rates and fixing the Social Security and Medicare programs are key to a stronger economy.
Wall Street Journal:
- General Electric’s(GE) NBC Universal today plans to announce it will offer YouTube Inc. promotional video clips for some of its shows including “The Office” and “Saturday Night Live.”
- The US House of Representatives this week will probably cancel a 25-year restriction on oil and gas exploration along portions of the US coast.
- Google(GOOG) will introduce a test version of its GBuy online-payment service as early as this week to challenge EBay’s(EBAY) PayPal online-payment service.
- Time Warner’s(TWX) Warner Bros. will distribute movies and television shows over the Internet under an agreement to use Guba’s search engine and video-sharing network.
- US investors have been playing it safe, opting for multi-cap or all-cap mutual funds rather than large-cap or small-cap funds.
- Sony’s(SNE) personal music player is still struggling to compete with Apple Computer’s(AAPL) iPod, citing Sony president Ryoji Chubachi.
- A Coca-Cola bottler and MasterCard Intl. plan to site 1,000 vending machines in the Philadelphia area which will be able to accept credit and debit cards.
Washington Post:
- President Bush asked US Homeland Security Secretary Michael Chertoff to overhaul the nation’s Emergency Alert System because of weaknesses revealed after the Sept. 11, 2001, terrorist attacks and Hurricane Katrina in 2005.
Miami Herald:
- “Full-house” generators have become an important feature for high-priced South Florida homes after six major hurricanes in two years.
NY Times:
- Univision Communications(UVN) may accept a bid worth about $36.25 a share, or $11 billion, from a group led by billionaire Haim Saban.
USA Today:
- Real estate in more than 30 major metro areas, including Washington, Atlantic City, New York, Las Vegas, Phoenix, Sacramento and San Diego, more than doubled since 2000. Home prices will rise another 5% this year, according to the paper.
Handelsblatt:
- Kohlberg Kravis Roberts raised $15.5 billion for the biggest ever private equity fund.
Xinhua News:
- China’s government may fine media organizations as much as $12,501 for unauthorized reporting of emergencies under a draft law legislators started debating yesterday.
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