Bloomberg:
- China’s government said it plans to nurture up to 50 state-owned enterprises to become globally competitive companies to shield them from overseas rivals under the World Trade Organization.
- Delta Air Lines rejected a hostile $8.38 billion merger proposal from US Airways Group and said it plans to exit bankruptcy on its own with a value of as much as $12 billion.
- Common drugstore painkillers would have to carry warnings about risks of liver damage and stomach bleeding under a proposal from US regulators.
- The Fed’s Fisher said the risk of inflation is greater than slower US economic growth and reiterated his belief that he is comfortable with current Fed policy stance.
- Securities-industry employees in NYC will receive $23.9 billion in bonuses this year, surpassing last year’s record by 17%, NY State Comptroller Alan Hevesi forecast.
- Thai stocks may rebound from the biggest slump in 16 years after the government scrapped day-old currency controls on international equity investors.
- Iranian President Ahmadinejad’s opponents took a lead in municipal elections in Tehran, suggesting he may be challenged at the next presidential poll by politicians seeking a more liberal economy and a less confrontational approach to the US.
Wall Street Journal:
- US Democrats remain divided over free trade, balanced budgets and other economic issues they once promoted as the party comes under pressure from organized labor and populists.
- AT&T(T) which started television services in the Texas cities of San Antonio and Houston, will expand the offering to San Francisco, New Haven and Hartford, Connecticut, and add high-definition channels.
- Wal-Mart Stores(WMT) has allowed employees to install a Communist Party branch at its headquarters in Shenzhen, China, in keeping with Chinese government regulations.
AP:
- Anheuser-Busch(BUD) will end its title sponsorship of Nascar’s second-tier racing series after the 2007 season.
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