Bloomberg:
- The world’s biggest automakers posted US sales gains in October. General Motors(GM) recorded a 17% increase for its second monthly gain this year. US rival Ford’s(F) 8.1% advance was its second straight advance.
- Democratic Senator John Kerry of Massachusetts canceled campaign appearances with Democratic congressional candidates after making remarks about the intellect of the troops in Iraq spurred outrage among Republicans.
- Shares of Canadian income trusts plunged after the government said it plans to close a loophole that allows the securities to avoid taxes, threatening to shut down the fastest-growing segment on the Toronto Stock Exchange.
- Brazil, the world’s biggest ethanol exporter, boosted shipments of the alternative fuel 91% last month on surging demand form the US.
- Copper prices on the London Metal Exchange showed for the first time in three years that supply has caught up with demand after stockpiles surged to the highest level in more than two years.
Wall Street Journal:
- RiskMetrics Group is buying Institutional Shareholder Services for about $553 million in cash and stock.
- CBS Corp.(CBS), NBC Universal Television Group and ABC television are all using rookie news anchors to present results of US mid-term elections Tuesday, adding to pressure on how their organizations match up against rivals.
NY Times:
- CVS Corp.(CVS) is in advanced talks to buy drug benefits manger Caremark Rx(CMX) for more than $21 billion.
- Citgo Petroleum Corp., the US refining unit of Venezuela’s state oil company, is trying to bolster its image after Venezuelan President Hugo Chavez compared President Bush to the devil during a speech at the UN.
Financial Times:
- Fortress Investment Group LLC, a NY-based hedge fund, plans to file for an IPO next week that would make it the first publicly traded US hedge fund.
Moscow Times:
- Russia and the US may agree on Russia’s accession to the World Trade Organization within days, citing Economy Minister German Gref.
AP:
- Lego A/S said staff cuts have left it unable to keep up with demand during the Christmas season and its most popular products have already sold out.
China Gold Assoc.:
- China produced 150.1 metric tons of gold in the first eight months of this year, up 11% from a year ago.
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