Bloomberg:
- The DJIA is hitting another all-time high after the government said consumers spent more without fueling inflation.
- Natural gas is falling 2% today after inventories fell less than expected, leaving supplies at record highs for this time of the year.
- Venezuela may devalue its currency this year as accelerating inflation boosts demand for foreign exchange while falling oil prices draw fewer dollars to the economy, Bear Stearns said.
- Exxon Mobil(XOM) and Royal Dutch Shell Plc, the world’s two biggest oil companies, posted higher-than-expected fourth-quarter profits after gains in production softened the blow of declining energy prices.
- Russian companies traded in London are tied so tightly to the Russian government that investors should beware, said Alexander Temerko, a former vp of OAO Yukos Oil Co.
Wall Street Journal:
- A group led by Vornado Realty Trust may raise its bid today for Equity Office Properties Trust(EOP), the real-estate trust founded by Chicago billionaire Sam Zell.
NY Times:
- French President Jacques Chirac said in an interview this week that Iran’s possession of one or two nuclear weapons would not pose a big danger, one of many remarks he retracted a day later.
Washington Times:
- Democratic House Speaker Nancy Pelosi requested that the Bush administration allow her staff, relatives and other members of the California delegation access to military aircraft for domestic flights.
Beijing Antaike Information Development Co.:
- Aluminum output in China, the world’s biggest producer, rose 20% in 2006, citing figures form the National Bureau of Statistics.
Khaleej:
- Oil markets remain oversupplied even as OPEC starts to implement a second round of output cuts, citing Iranian Oil Minister Kazem Vaziri-Hamaneh. “Oil supplies from countries outside OPEC have increased “a lot” and the weather in Europe is “warmer than past years,” he said.
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