Bloomberg:
- Crude oil is falling for a second day as companies increased output at platforms in the
- Banks reduced the backlog of unsold corporate debt to $370 billion after seizing on improved investor demand to issue $7 billion of leveraged loans and bonds in the past two weeks, Bank of America(BAC) analysts said.
- C-Cor Inc.(CCBL), the provider of broadband equipment and services to companies including Comcast Corp.(CMCSA), gained the most in eight years in early trading after Arris Group(ARRS) said it will buy the company for $730 million.
- Bristol-Myers Squibb(BMY) agreed to buy closely held Adnexus Therapeutics for as much as $505 million to gain an experimental cancer medicine.
- EMC Corp.(EMC) rose the most in six weeks after analysts at Bear Stearns(BSC) and Citi Investment Research recommended investors buy shares of the world’s largest maker of data-storage computers and software.
- Sims Group Ltd. agreed to buy Metal Management(MM) for about $1.49 billion in stock to create the world’s largest publicly traded scrap-metal recycler.
Wall Street Journal:
- Hard Case: Job Market Wanes for US Lawyers. Growth of Legal Sector Lags Broader Economy; Law Schools Proliferate.
- China has issued strict rules for television talent shows, banning “American Idol”-style, mass-audience voting by mobile text messaging.
- Wachovia Corp.(WB) and Bank of America(BAC) are among US companies adding jobs in wealth and asset management as more Americans enter retirement with more money than ever before.
NY Times:
- New York Grudgingly Opens Door to Ahmadinejad.
Business Week:
- US: mortgage default rate stabilizing.
LA Times:
- California Governor Arnold Schwarzenegger will sign a bill requiring the state’s two public pension funds, the largest in the
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