Bloomberg:
- Kimco Realty(KIM), the largest US owner of community shopping centers, agreed to buy Pan Pacific Retail Properties for $2.9 billion to expand on the US West Coast.
- Henry Paulson, former CEO of Goldman Sachs(GS) who was sworn in today as the nation’s 74th Treasury secretary, said he will work to keep the US economy strong and expand trade.
- Boeing(BA), for the first time in 6 years, is set to come out ahead of Airbus SAS in the race for new plane orders.
- Crude oil fell for a third day on speculation that the record price reached last week when North Korea test-fired at least seven missiles was unjustified.
- Marathon Oil(MRO) announced the first ethanol investment by a major US oil company in 26 years, saying it plans to build plants with grains marketer Andersons(ANDE) to meet rising demand.
Wall Street Journal:
- Saudi Arabia and Chevron(CVX) are testing a process for extracting heavy oil that was previously considered inaccessible.
- The FDA is preparing regulatory guidelines for “adaptive trial” testing of medicines that allows studies to change as they progress.
- Wealthy South Koreans are investing in US real estate, betting that its value will outpace Korean property, and they will get an extra boost from a strengthening of the US dollar.
Boston Globe:
- IBM(IBM) plans to start selling the first version of its Lotus Notes software for Linux operating system users as an alternative to Microsoft(MSFT) programs.
NY Magazine:
- Former NYSE Chairman Richard Grasso is helping Joe Grano, former chairman of UBS PaineWebber, start a private-equity firm.
NY Times:
- Time Warner’s(TWX) AOL unit is considering slashing marketing for its Internet access service, reducing fees and cutting thousands of jobs in order to concentrate on building free services.
- Men are less likely than women to get bachelor’s degrees, and they are also getting worse grades than women in college classes, citing US Education Dept. stats.
Women’s Wear Daily:
- Kohlberg Kravis & Roberts is leading the bidding for US athletic-shoe retailer Foot Locker(FL).
Gulf News:
- Cisco Systems(CSCO) is in talks with United Arab Emirates telecom companies Emirates Telecom and Du to start a Voice over Internet Protocol network in the region.
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