Bloomberg:
- Natural gas is falling for the fourth day this week in NY on soaring supplies of the furnace ad power-plant fuel.
- Crude oil fell close to a six-month low on signs the standoff with Iran over its nuclear program may be nearing a resolution.
- President Bush and Pakistani President Musharraf said they are cooperating in the hunt for Osama bin Laden and dismissed reports about a rift in tactics.
- US Treasuries are rising again, extending the benchmark 10-year note’s biggest weekly gain in 17 months.
- Tribune(TRB), publisher of the LA Times and the Chicago Tribune, agreed to consider a sale of the company or some of its assets after the shares slumped.
Wall Street Journal:
- The UK Financial Services Authority will require hedge funds starting in November to disclose significant preferential deals made with investors.
- The SEC has been urged by lobby groups to do more to counter the threat of companies who trade in so-called naked short-selling by introducing new regulations.
- AT&T’s(T) $67 billion purchase of BellSouth(BLS) will be approved by the FCC.
NY Times:
- Wealthy Chinese parents are taking their children to golf lessons, expensive etiquette classes and music instruction to prepare them for elite status in the country.
- Viacom’s MTV Networks plans to buy Harmonix Music Systems, a creator of music-based video games, for $175 million, citing MTV President Christina Norman.
NY Post:
- Amazon.com(AMZN) and TiVo Inc.(TIVO) are in talks over an arrangement to download films to TiVo set-top boxes.
Financial Times:
- Man Group Plc CEO Stanley Fink said he would welcome regulation and registration for the hedge-fund industry that would put it on the same level as mutual funds.
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