Tuesday, May 10, 2005

Today's Headlines

- China is improving its far-flung system of human spies, recruits, sleeper agents and electronic eavesdropping in tandem with its buildup of conventional military power, according to a new Pentagon report and analysts.
- Crude oil and gas in NY are rising as ConocoPhillips said that portions of its Alliance refinery in Belle Chasse, Louisiana, closed because of a power failure.
- Delta Air Lines is seeking to ease terms of loan agreements and said it may have to file for bankruptcy protection if those efforts fail.
- US Treasury notes are rising on speculation an increase in yields will boost demand at government debt auctions starting today.

Wall Street Journal:
- European Aeronautic Defense & Space may announce today that it will join Raytheon to bid on a Pentagon contract for a US Army transport aircraft.
- The group Citizens for Responsibility and Ethics, known for their criticism of Republican House Majority Leader Tom DeLay over ethics issues, has contributed nearly 60 times as much money to Democratic causes than Republican ones.
- Dissidents at Morgan Stanley may urge investors to sign a petition calling on the board to hold a special shareholders meeting.
- A possible lawsuit by the US Justice Department against the National Association of Realtors could help boost the number of realtors selling homes at discount prices over the Internet.
- Warner Music Group may sell shares as early as tomorrow in its IPO.

NY Times:
- The Bush administration said it would pay $1 billion through September 2008 to doctors and hospitals for providing emergency services to illegal immigrants.
- IBM will announce today that it will buy Gluecode Software, as part of its strategy to build a business around open-source software.
- Goldman Sachs’ decision to withdraw its plan to build a $2 billion headquarters next to the World Trade Center site could damage Lower Manhattan’s stature as a financial and commercial center.
- The Ford Foundation plans to give $50 million over five years to support public broadcasting on television and radio.

Washington Post:
- Merrill Lynch is among securities firms that are trying to sell services to South-Asian Americans and Hispanic Americans to boost revenue.

Lloyd’s List:
- Malaysia International Shipping, the world’s biggest carrier of liquefied natural gas, said freight rates may fall because of a glut in the world fleet.

Tex Report:
- Brazilian steelmakers offered to sell hot-roiled coil at $600 a ton to Asian buyers.

- Pfizer CEO Hank McKinnell said the company’s arthritis drug Bextra will likely return to the market.

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