Tuesday, October 30, 2007

Today's Headlines

- Goldman Sachs(GS), the bank that said in July oil may reach $95 a barrel, told clients its was “time to take profits” after crude rose to a record $93.80 in NY yesterday. Oil is falling $3.34/bbl. to $90.19/bbl.
- Bank of America(BAC), the second-biggest US bank, says rising demand for high-risk, high-yield debt is helping US credit markets recover.
- The global sugar glut may take as long as two years to erode because of record crops in India and Brazil, the International Sugar Organization said.
- Researchers at IBM(IBM), the world’s biggest computer-services company, have devised a process to recycle discarded computer-chip wafers into solar panels.
- American Superconductor(AMSC), a leading energy technologies company, announced today that it has formed a new division known as “AMSC China” to serve the growing wind energy, power grid and industrial markets in China.

- The US House of Representatives approved a bill to bar states from levying taxes on Internet access through 2014, clearing the way for President Bush to sign the measure into law before an existing ban expires.
- Mergers and acquisitions overtook last year’s record in the first ten months as publicly listed companies picked up the slack left by private-equity firms unable to fund transactions because of rising borrowing costs.

- Greenspan Says China’s Stock-Market Bubble Is Likely to Burst.
- Under Armour(UA), the maker of moisture-releasing athletic wear, rose more than 5% for the third time in a week after lifting annual sales and earnings forecasts.

Wall Street Journal:
- Shhh, NYSE Aims to Bring Back Blocks.
- Murtha Inc. How Lawmaker Rebuilt Hometown on Earmarks. Johnstown Gets Billions With Power Broker’s Aid; FBI Questions a Contract.

- States battle rise in copper thefts. ‘Epidemic’ affects electricity, irrigation.

Washington Post:
- Preteens Trading Fairy Wands for Fishnets. Halloween Trend Toward Racy Get-Ups Vexes Parents.

China Daily:
- China is set to triple its natural gas output by 2020 as its top producers step up exploration, citing an analyst.

- China’s rate of birth defects has surged 40% since 2001, which means a deformed baby is born every 30 seconds.

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