Bloomberg:
- Federal Reserve Bank of Dallas President Fisher said inflation may have peaked and is now receding.
- Iran, after international pressure to scrap its nuclear program, announced the test-firing of a Shahab-3 ballistic missile capable of traveling 2,000 kilometers, a range that puts Israel’s major cities within reach.
- Crude oil is falling again amid forecasts for mild weather and calls by Kuwait for OPEC to pause before cutting production again.
Wall Street Journal:
- Microsoft’s(MSFT) delay in introducing its Windows Vista operating system will spur a Christmas-shopping price war in computers.
- Democrats still haven’t figured out how to get US troops out of Iraq without appearing to be soft on terrorism. Senator John Kerry’s facetious remark about young Americans winding up in Iraq if they can’t make the grade academically at home has added to unease among Democrats over a possible backlash.
- Dell Inc.(DELL) has started selling laptop computers using chips from Advanced Micro Devices(AMD).
NY Times:
- A cooperative of Missouri farmers that owns part of an ethanol plant is rejecting offers that would yield 10 times some members’ investment. Mid-Missouri Energy’s facility, which cost $60 million to build and opened in February 12005, has received bids for as much as $275 million. The plant, which converts corn into ethanol, has 729 farmer-owners.
- NYC will get $2.7 billion more in tax revenue this year than it expected, cutting next year’s budget deficit by 87%. The increased revenue is coming from commercial property sales and personal and business income.
Washington Post:
- The alleged terrorists arrested in London in August planned to blow up planes over US cities, not over the Atlantic Ocean as previously thought, citing the chief of the FBI’s New York office.
Financial Times:
- Morgan Stanley’s(MS) decision to buy a 19% stake in a London hedge fund, Lansdowne Partners LP, shows how investment banks are starting to view hedge-fund investments as a regular source of income.
Guardian:
- Brazil will build plants in Nigeria to produce ethanol form sugar cane and cassava.
Le Monde:
- France’s support for imposing sanctions on Iran may be softening because of concern that tough measures could endanger its troops in Lebanon.
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