Bloomberg:
- US Treasury yields are rising after the government said retail sales ex autos rose the most since January and the MBA said the US housing market will “fully regain its footing” by mid-2007.
- The SEC proposed ways to make it cheaper and easier for companies to conduct business-practice audits required by the Sarbanes-Oxley law.
- Billionaire investor and democratic political activist George Soros lodged an appeal today with a European court to overturn a 2002 French conviction for insider trading, arguing that the law was vague and that prosecutors took too long to bring him to trial.
- Ritchie Capital Management, a Geneva, Illinois-based hedge fund, struggling with two years of below-average returns, plans to shut down its flagship hedge fund because of “unforeseen circumstances,” according to an e-mail sent yesterday to investors.
- US Steel(X) and Deere(DE) are among the economically sensitive stocks set to end their fourth-quarter rally as slowing global growth finally takes its toll.
- Former Enron Corp. CEO Skilling, convicted of spearheading a fraud that destroyed his company, reported to prison in Minnesota today to begin a 24-year sentence, prison officials said.
Wall Street Journal:
- US shippers, chemical companies and other major consumers of petroleum products have called on Congress to tighten fuel-efficiency standards and allow more offshore oil and gas drilling.
- A GE(GE)-developed kiosk that can scan air travelers’ shoes and fingertips for explosives materials has been approved for use in US airports.
NY Times:
- Tribune(TRB) may receive a bid from a group led by the Chandler family, which sold the LA Times to Tribune and owns 20% of the company.
- Perverted Justice, a US-based Web site dedicated to finding and exposing would-be pedophiles, has become one of the most effective unofficial law enforcement groups in the US. The site, run by Xavier Von Eck has led to the conviction of 113 people since 2003, and is best known for its collaboration with Dateline NBC’s “To Catch a Predator” show.
Washington Post:
- Illinois Governor Rod Blagojevich is set to announce a program today meant to better integrate the state’s immigrants. Both legal and illegal immigrants will be guaranteed health care, education and job training as part of the program.
Iran Daily:
- The West should dismantle Israel, Iranian President Mahmoud Ahmadinejad said during a surprise visit to a Holocaust conference in Tehran late yesterday.
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