Monday, May 23, 2005

Today's Headlines

- Donald Trump is beginning Trump University, an online enterprise to provide training for working business professionals.
- The US economy may expand by 3.4% this year, less than the 3.6% projected in February and down from 4.4% in 2004, according to 50 economists surveyed by the NABE.
- Fed Chairman Greenspan, in the last great battle of his career, is waging a war against inflation that bond traders say he’s already won.
- US Treasury notes rose for the first day in three on speculation inflation will remain in check, bolstering the purchasing power of fixed-income payments.

Wall Street Journal:
- San Francisco-based hopes to cater to users of a new music medium called podcasting who are worried about copyrights.
- Bank of America, Wachovia and other banks have told more than 100,000 customers their accounts and identity information may be compromised after former bank employees may have sold account numbers and balances to somebody who sold the data to collection agencies.
- Walt Disney’s ABC television network is popular with advertisers looking to buy commercials for the fall’s new US television season.
- Apple Computer, the maker of Macintosh computers, may soon begin using Intel chips in its PCs.
- Western Wireless hired Deutsche Bank AG to examine potential offers for the company’s overseas mobile phone assets, which could be worth as much as $2 billion.
- Standard Asset Management plans to start an exchange-traded fund that tracks the price of a barrel of light, sweet crude oil.
- Barnes & Noble’s Sterling Publishing unit has created a simplified line of classic books, such as “The Adventures of Tom Sawyer,” that are geared largely to children with reading problems.
- Newsweek Editor in Chief Richard M. Smith said no writers or editors will lose their jobs because of the May 16 retraction of an incorrect article that said US guards at Guantanamo Bay, Cuba, desecrated a copy of the Koran. At least 17 people lost their lives in riots in Afghanistan related to the inaccurate report.

NY Times:
- Omnicom Group, the world’s largest advertising company by revenue, and other agencies are struggling to stay in business amid narrowing profit margins and falling stock prices.
- Best Buy toughened a policy to detour minors from buying violent or sexually explicit video games amid shareholder pressuring.

- American Psychiatric Association representatives have approved a statement urging legal recognition of same-sex marriage.
- A bipartisan group of US senators plan to introduce a $611 billion bill this week that would repeal the alternative minimum tax.

NY Post:
- Pfizer’s Viagra is being provided to almost 200 of New York’s worst sexual offenders through Medicaid reimbursements, citing a report by state Comptroller Alan Hevesi.

Washington Post:
- Iraq’s radical Shiite Muslim cleric Moqtada al-Sadr called for a halt to the killing of all Iraqis, following the end of a Sunni Muslim boycott of politics.

LA Times:
- TV Watch, a group partially funded by broadcast networks, has created a Web site to diffuse media watchdog groups in the debate about indecency in television and radio.

Centre Press:
- A rejection to the European Union’s new constitution would weaken the position of France and deal a blow to Europe, French Prime Minister Jean-Pierre Raffrin said.

Financial Times Deutschland:
- SAP AG forecast a partnership with Microsoft will help it double the number of customers using its software on personal computers in three to five years.

- Bank of America may buy a 5% stake in China Construction Bank, paying as much as $2 billion.

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