Wednesday, February 21, 2007

Today's Headlines

- J&S Energy SA, a Polish importer of Russian crude oil and distributor of fuel products, wants to expand by opening two biofuel plants in Poland and buying other companies.
- Crude oil rose about $60 a barrel in NY on speculation that an Energy Dept. report tomorrow will show that US fuel supplies fell and that unexpected refinery shutdowns will curb stockpiles in the weeks ahead.
- Ascom Holdings AG, the Swiss maker of emergency radio systems that fired its CEO last week, may buy US-based technology companies SpectraLink(SLNK) and Comarco Solutions(CMRO).
- The yen dropped to a record low versus the euro and approached the weakest in four years against the dollar after the Bank of Japan raised interest rates and said further increases would be gradual.
- British Airways Plc placed an order worth as much as $1.6 billion for Boeing Co.(BA) planes over a rival model from Airbus SAS in the first stage of a plan to expand its fleet and replace older aircraft.
- BP Plc, Europe’s second-largest oil company, said its Northstar oil field in Alaska may resume production next week after a pipe that leaked gas is fixed.
- XTO Energy Inc.(XTO), a US oil and natural gas producer, said its proven reserves rose 12% last year to a record.
- Gold is rising in NY after the CPI came in slightly above estimates and oil gained, resulting in more record speculation by investment funds on the metal.

Wall Street Journal:
- Mylan Labs(MYL), a US maker of generic drugs, seems to have found its way again after the failure of a 2005 bid to acquire King Pharmaceuticals knocked it off course.
- Nexstar Broadcasting(NXTR), Young Broadcasting(YBTVA), Sinclair Broadcasting(SBGI) and other local-TV companies have seen their shares soar as they get more money from cable companies to carry local stations.
- Roundy’s Supermarket Inc., one of the US Midwest’s largest flood retailers, is considering selling itself in a deal that could be valued at as much as $2 billion or more.

NY Times:
- After years of increasing costs to employees, some US employers are reversing course and offering free prescription drugs.
- US efforts along the Mexican border are beginning to stem the flow of illegal immigrants.

Washington Post:
- Some liberal activists are launching attack campaigns against Democratic incumbents they believe are too moderate.

NY Post:
- Getty Images(GYI), the world’s largest supplier of photographs to advertisers and publishers, is in talks about acquiring Jupitermedia Corp.(JUPM) for a price that may be about $450 million including debt.

Financial Times:
- Wal-Mart Stores(WMT) is asking its biggest suppliers to put more women and minorities on the teams that handle its accounts.

- United Nations Secretary General Ban Ki-moon would welcome more German involvement in conflict situations.

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