Bloomberg:
- OPECs’ President al-Hamli held talks over the phone yesterday with OPEC ministers on whether the group should attempt to counter the recent decline in oil prices.
- Copper prices will decline to average of $2.50 a pound in 2007 as supplies outpace demand, Chile’s National Mining Society said.
- Eastman Kodak(EK) agreed to sell its health-care imaging unit to Onex Corp. for as much as $2.55 billion to pay down debt as it struggles to build its digital business.
- Apple Inc. CEO Steve Jobs is targeting the company’s new iPhone at users of Research In Motion’s(RIMM) BlackBerry and Palm’s(PALM) Treo.
- Federal Reserve Bank of Chicago President Moskow said he expects economic growth to gain strength this year and the low unemployment rate means policy makers must remain “vigilant” on inflation.
- In a speech to the nation tonight, President Bush will tell Americans that his plan puts a greater burden on Iraqis to take responsibility for their own security and that he has won a pledge from Iraqi Prime Minister al-Maliki to beef up his military and commit $10 billion to stabilize and rebuild the country.
- Sears Holdings Corp.(SHLD) forecast fourth-quarter profit will rise as much as 28%, beating analysts estimates.
- The US dollar climbed to the highest in about three months against the yen and the strongest in six weeks against the euro after the US trade deficit unexpectedly narrowed in November.
- Crude oil fell for a third day, approaching an 18-month low and closing floor trading below another key technical level, after an EIA report showed that US fuel supplies rose for a fourth week.
- Emerging-market stocks headed for their longest losing streak since May, as the Venezuelan president’s pledge to nationalize industries and Thailand’s curbs on foreign ownership shook investor confidence.
- Tiffany(TIF) reported the biggest holiday sales increase in three years as spending jumped at its NY flagship store.
- Venezuelan President Chavez this morning said socialism will be Venezuela’s “salvation.”
- The US should increase its target for ethanol and biodiesel use by 76% to help reduce the country’s reliance on imported oil, an association of 37 state governors said.
- Renewable Power & Light Plc, a producer of alternative fuels, signed an agreement to build a 60 million gallon-a-year biodiesel plant in northern New York to be used to create motor fuels.
- Saudi Arabia, the largest OPEC oil producer, will complete work to add 500,000 barrels a day of crude production from its Khursaniyah oil fields program on schedule.
Wall Street Journal:
- Hedge funds are bidding up commercial rents in London’s Mayfair district, helping give London’s West End the world’s most expensive occupancy costs.
- Gannett Co.(GCI), McClatchy Co. and Tribune(TRB), the three biggest US newspaper companies, are teaming up to sell advertising on their Web sites, as they seek big advertisers that want a nationwide online market.
NY Times:
- NYC is developing a playground with so-called play workers who will help children interact with water, ramps, sand and specially designed objects meant to spur the imagination.
- President Bush will likely introduce plans to revive government-owned Iraqi factories and privatize companies as part of his new strategy to stabilize the country.
NY Daily News:
- NY Mayor Michael Bloomberg plans to shift more management of the city’s public schools to private companies and cut the number of regional school districts to five from ten.
Financial Times:
- Angela Merkel, the German Chancellor, said the country needs to diversify its energy supplies and consider reversing plans to phase out nuclear power.
Interfax:
- Gold buying by Russian banks dropped 8% last year, citing an official at the state-run precious-metals and gemstones repository.
Handelszeitung:
- Adecco SA, the world’s largest temporary jobs company, will consider acquisitions in Central Europe and the US, CEO Scheiff said.
Poslovni Dnevnik:
- Croatian energy company Ina Industrija Nafte d.d., along with German partner RWE-DEA AG Fuer Mineraloel und Chemiem, discovered an oil field in western Egypt.
Business Day:
- Gold is likely to fall this year as the US dollar strengthens, reducing its appeal as an alternative investment, citing Standard Chartered Plc.
Sina.com:
- China’s Internet search-related sales may rise to $3.3 billion yuan in 2008 from 1.6 billion yuan last year.
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