Monday, January 07, 2008

Today's Headlines

Bloomberg:
- The risk of companies defaulting on their debt fell amid speculation the Federal Reserve will cut interest rates further, trading in credit-default swaps show.
- Crude oil is falling more than $2 barrel, the most since November, on expectations demand will drop, a firmer US dollar and warmer weather.
- The fastest-growing bet in the oil market these days is that the price of crude will double to $200 a barrel by the end of the year.

- The US dollar rose for the first time this year versus the yen and gained against the euro on speculation global growth may withstand a slowing US economy.
- Three US Navy warships were briefly confronted by five Iranian “fast boats” yesterday in the Persian Gulf, a Defense Dept. spokesman said.

Wall Street Journal:
- McDonald’s(MCD) Takes On A Weakened Starbucks(SBUX).
- Could GM’s(GM) Salvation Be Stuff of Science Fiction.
- Comcast(CMCSA) Devices Aim to Simplify TV Watching.
- The level of crisis in the securities and investment banking industry is at its highest since records began, according to the Financial News annual Crisis Index.

NY Times:
- CNBC and the NY Times(NYT) will share material on their Web sites starting today to compete with the Wall Street Journal and the Fox Business Network.
- Peter Hopkins, a civic-minded and idealistic 2004 Harvard grad, is hoping that his new Web site, Big Think, will do for intellectuals what YouTube, the popular video-sharing site, did for bulldogs on skateboards.

AppleInsider:
- Apple(AAPL) is closing in on agreements with almost all the major motion picture studios for an iTunes movie rental service that will serve up 24-hour rentals for $3.99 a pop.

AP:
- Comcast Corp.(CMCSA) and Time Warner Inc.(TWX) will allow electronics manufacturers to standardize televisions and other devices so they will work with any cable provider, which may encourage the development of new services.

Financial Times:
- Plug-in cars are picking up speed and credibility.

Sentido Comun:
- Microsoft’s(MSFT) Bill Gates reclaimed the title of the world’s richest man from Mexican billionaire Carlos Slim.

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