Bloomberg:
- France lacks the military means to be part of an expanded UN force in Lebanon, Jean-Marie Le Pen, president of the nationalist National Front, said.
- Iran’s response to an incentives plan aimed at persuading it to stop enriching uranium “falls short” of the conditions set by the UN Security Council.
- Crude oil is falling more than $1/bbl. and gasoline plunged after an EIA report showed an unexpected increase in US inventories of the motor fuel.
- Dutch airport police detained twelve Northwest Airlines Corp. passengers at Amsterdam’s Schiphol Airport after the plane returned to the Dutch city at the pilot’s request.
- Tropical Storm Debby strengthened as it moved toward the open waters of the central Atlantic Ocean, where it may intensify into the first hurricane of the season.
- IBM(IBM) agreed to buy Internet Security Systems(ISSX) for about $1.3 billion to build its software business as revenue declines at the hardware and services units.
Wall Street Journal:
- PNC Financial(PNC) Bank is expected to say it will start refunding cash machine fees for customers using competitors’ ATMs as banks attempt to attract more customers.
- Oil companies have accumulated huge cash reserves as a result of soaring energy prices and they’ll spend much of the money on infrastructure projects for future extraction and refining.
- Walt Disney’s(DIS) ABC network is to start selling archived television news footage to users of Apple Computer’s(AAPL) iPod MP3 players.
NY Times:
- Jonathan Tasini, who is running against Hillary Rodham Clinton in the Democratic primary for senator, is attempting to use an anti-war stance similar to Connecticut’s Ned Lamont to unseat the former first lady.
- More shipping companies and retailers are turning to ports in Washington state’s Puget Sound area as congestion and labor shortages slow maritime cargo in Southern California.
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