Bloomberg:
- General Motors(GM) will introduce new hybrid gasoline-electric autos next year in an attempt to win sales from Toyota Motor(TM), the world leader in the fuel-saving technology.
- Tiffany & Co.(TIF) reported a 23% rise in earnings on increased sales of $20,000 rings and necklaces and boosted its profit forecast for the year because of holiday demand.
- Crude oil is rising to the highest in two months as speculators increased bets after a government reported showed distillate supplies unexpectedly fell.
- The US dollar is rising the most in three weeks against the euro after a government report showed US economic growth last quarter was quicker than previously estimated.
- NATO leaders agreed that future missions require a “fair sharing of the burden” in terms of military contributions as alliance members said allies need to do more to fight the Taliban in Afghanistan.
- Copper is falling to a one-week low on signs that demand continues to wane from US homebuilders as inventories rise.
- Oil prices “are very comfortable” and it’s too soon to tell whether OPEC will cut output at its next meeting, Kuwaiti Oil Minister Sheikh Ali-Jarrah al-Sabah said.
Wall Street Journal:
- Intel(INTC), Wal-Mart(WMT), BP Plc(BP) and other companies plan to disclose next week a plan to provide digital health records for their employees.
- Home Depot(HD) is betting that a new line of products called Orange Works can help revive sales.
- Citigroup(C) is linking its Smith Barney and Citibank units more closely, so that it can act as both banker and broker for more customers.
- Hewlett-Packard(HPQ) is starting a business to cool computers using technology that the company says can cut energy expenses by 25% to 45%.
- Two US hedge funds that pushed out the CEO of Pep Boys – Manny, Moe & Jack(PBY), a car parts retailer, after building up stakes have continued to buy shares.
- Volkswagen AG and DaimlerChrysler AG are unveiling diesel engines at the LA Auto Show that are clean enough to meet California emission standards.
- Honda Motor’s cars topped the list of vehicle brands with the best resale value.
NY Times:
- Riverdeep Group Plc is close to buying textbook publisher Houghton Mifflin Holdings for about $3.5 billion including debt.
Detroit News:
- Ford Motor(F) persuaded more than 35,000 hourly workers in the US to take buyout or early retirement offers that will have them leave the company by September 2008.
AP:
- Data indicate that oil companies “slacked off” supplying oil and gasoline during the seven-year rally that saw prices reach a record in July. In 2003, for example, Royal Dutch Shell Plc proposed closing a profitable oil refinery at Bakersfield, California.
Financial Times:
- Microsoft Corp.(MSFT) shares could keep rising because its Windows Vista software may do better than some analysts expect.
Engineering News:
- De Beers Fuels Ltd. won South Africa’s first commercial license to produce bio-diesel.
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