Bloomberg:- Boston Scientific shares are rising today as analysts said the company gained legal bargaining power in patent disputes with Johnson & Johnson after a jury’s verdict on competing heart stents.
- Iraq’s Constitutional Drafting Committee today formally increased the number of Sunnis in the organization from two to 15, ending months of political infighting which threatened to delay the drafting process.
- GM extended its “employee-discount” promotion after the program led to the biggest sales month in 18 years, putting pressure on Ford Motor to match the incentive or risk losing more market share.
- US Treasuries are falling as a government report showed factory orders in May increased by the most in a year.
- Crude oil is rising, approaching $60/bbl., as Tropical Storm Cindy in the Gulf of Mexico disrupted the arrival of shipments to the US.
CNBC:- The European Commission is considering whether to open an in-depth, four-month probe into plans by Procter & Gamble to buy Gillette.
Wall Street Journal:- US satellite operator PanAmSat Holding aims to sign joint ventures and acquire spacecraft launched by smaller rivals to expand its capabilities in orbit.
- Dell is shaking up sales of computers in China by selling directly to consumers over the Internet.
- Career Launcher India Ltd. and a handful of other Indian companies are starting to offer online coaching in math and other subjects to US residents.
- Private-equity firms are raising billions of dollars to invest in Asia, but some investors say too much cash is chasing too few transactions.
- European Union ethics and disclosure laws are weak enough to let legislators influence debate without their connections to the companies involved being disclosed.
- IBM said it has started an industry organization to develop a plan for better ways of protecting data from hackers and mistakes.
NY Times:- US airlines, whose domestic profit has been cut by fare competition and high oil prices, are benefiting from high demand and ticket prices for international flights.
Denver Post:- Qwest Communications has introduced a Web site in Spanish as part of an effort to cater to the 5 million Hispanic consumers in its territory.
AdAge.com:- McDonald’s may introduce more fashionable uniforms to build pride among its younger workers.
