Bloomberg:
- The DJIA, Russell 2000 and S&P 400 are all hitting all-time highs today on strong a strong GDP report, decelerating inflation and constructive Federal Reserve comments.
- The Federal Reserve kept the benchmark US interest rate at 5.25% and acknowledge the economy is picking up after a slowdown last year.
- Carl Icahn, the billionaire shareholder activist seeking a seat on the board of Motorola Inc.(MOT), plans to pressure the mobile-phone maker to return more cash to investors by buying back stock.
- Boeing(BA) said fourth-quarter profit doubled on increased deliveries and Airbus SAS’s failure to produce new models.
- The International Monetary Fund should sell some gold to cover losses, said an advisory panel that includes former Fed Chairman Greenspan and European Central Bank President Jean-Claude Trichet.
- Logitech Intl(LOGI), the biggest maker of computer mice, is the company most likely to join the Nasdaq-100 Index after Comverse Technology is delisted, Lehman Brothers said.
- Exxon Mobil(XOM), Royal Dutch Shell and BP Plc may report fourth-quarter earnings fell, the first time the world’s three largest oil companies all reported a decline since mid-2002.
- The US Treasury said it may scrap its three-year note before the end of the year as the improving budget deficit reduces borrowing needs.
- R. Hunter Biden, a Washington lobbyist and son of US democratic presidential hopeful Senator Joe Biden, fraudulently excluded a partner form the purchase of a hedge-fund investment firm, the partner claims in a lawsuit.
Wall Street Journal:
- Microsoft Corp.(MSFT) dislodged Johnson & Johnson(JNJ) from the top spot in this year’s Harris Interactive/Wall Street Journal ranking of 60 big companies in terms of their reputations.
NY Times:
- Yahoo! Inc.(YHOO) is planning to create individual Web sites for about 100 online entertainment destinations for individual movies, television shows, bands, celebrities and other types of entertainment.
USA Today:
- US states that are reporting their largest budget surpluses and highest reserve-fund levels since 2000 may use that extra money to cut business taxes to lure companies.
Financial Times:
- China’s stock market shows signs of a “bubble”, quoting Cheng Siwei, vice chairman of the National People’s Congress. “Every investor thinks they can win. But many will end up losing,” Cheng said.
Al-Alam Al-Yom:
- Egypt may set up oil exploration companies and sell their shares to smaller investors, citing the country’s petroleum minister.
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