Bloomberg:
- US stocks are rising, sending the DJIA past 14,000 for the first time, after wholesale inflation unexpectedly declined and Goldman Sachs(GS) recommended American Express(AXP) shares.
- Syria rejected President Bush’s proposal for an international conference on the Israeli-Palestinian conflict.
- Goldman Sachs(GS) plans to build the first new office tower on the Jersey City, New Jersey, waterfront since the Sept. 11 terrorist attacks, a $560 million building to rise 500 feet alongside its existing office.
- Corn is dropping for a second session in Chicago as rains in the Midwest were expected to improve prospects for crops. Corn has plunged 26% from late-February euphoric highs.
Wall Street Journal:
- Apollo Management LP, a leveraged-buyout firm started by Leon Black, is planning to list shares on a new Goldman Sachs Group Inc. exchange, which will allow it to raise funds and keep the advantages of staying private.
- Coca-Cola(KO) pushed Sony Corp.(SNE) out of the top position for the first time in seven years in the Harris interactive annual poll of “best brands.”
- Bain Capital LLC is raising $15 billion for its leveraged-buyout fund, yet keeping a third of it aside to alleviate the pressure such big funds feel to invest the money as quickly as possible.
- PNC Financial Services Group(PNC) is among US banks boosting wages, benefits and training to attract better qualified tellers capable of handling more complex tasks.
- China doesn’t plan to disclose estimates of the economic cost of pollution after studies on the subject proved to be sensitive and were suspended, citing officials.
- US cable tv providers are using digital-video recording technology to lure viewers away from satellite TV, citing a report by the Carmel Group.
NY Times:
- Nintendo’s Wii is attracting video game developers and publishers because it is cheaper and easier to build for than its rivals.
AP:
- Wells Fargo(WFC) today will start a new international money transfer service to Mexico, India, Vietnam and other countries.
Daily Telegraph:
- England’s wealth divide between rich and poor is at its widest in more than 40 years, citing a study by the Joseph Rowntree Foundation charity.
Reuters:
- Merrill Lynch’s(MER) CFO on Tuesday said the company has limited risk from two Bear Stearns(BSC) hedge funds that recently collapsed.
Xinhua News Agency:
- China’s gold production rose 15.3% in the first half to 122.2 metric tons because higher prices prompted miners to increase output, citing the National Development and Reform Commission.
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