Tuesday, October 16, 2007

Today's Headlines

- Saks Inc.(SKS) may be acquired by a private-equity firm because of the luxury retailer’s global brand recognition, according to Citi Investment Research.
- State Street(STT) said earnings will rise more than 15% this year, beating its forecast, after completing the acquisition of Investors Financial Services and weathering a rout in the credit markets.
- Crude oil rose above $88 a barrel for the first time in NY on concern Turkey may attack Kurdish militants in Iraq and disrupt oil shipments.

Wall Street Journal:
- As Burgers Boom in Russia, McDonald’s Touts Discipline.

- US Plans Alternate Route For Iraq Supplies Amid Turkish Turmoil. Relations between Washington and Ankara have been strained by Turkey’s preparations to invade northern Iraq to rout out Kurdish rebels at the same time as US lawmakers consider a resolution accusing Turkey of genocide against Armenians following WWI.

NY Times:
- Dow Jones Drops CNBC Ads From Web Sites in Favor of Fox Links.

- Apple will release a software-development kit for the iPhone is early 2008, enabling programmers to create games, business-productivity tools, and countless other applications for the device.

- AT&T(T) has hired Goldman Sachs(GS) to explore the acquisition of EchoStar(DISH).

- Record NYC building boom, spurred by commercial construction.

- Angola’s crude oil production is expected to rise above 2 million barrels per day for the first time in December as new fields come online and others ramp up output, trade sources said.

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