Bloomberg:
- Golfers will be allowed to hone the accuracy of their shots by using laser-guided distance-measuring devices in competitions next year.
- Byron Wien, Morgan Stanley’s senior stock market strategist, is leaving to join hedge fund Pequot Capital Management.
- Oil refineries near Port Arthur, Texas, and Lake Charles, Louisiana, hit head-on by Hurricane Rita may be shut for a month, heightening the threat of shortages in an industry that has yet to recover from Katrina.
- Google is charging advertisers more for the ability to maintain their ads in prominent positions.
- The US dollar is rising to a two-month high against the euro and yen after Fed Reserve Bank of Kansas City President Hoenig added to speculation the central bank will keep raising interest rates.
- US Treasuries were little changed before a speech by Alan Greenspan in which the Federal Reserve chairman may reiterate that the economy is resilient and inflation remains a threat.
- Intel won its first ever order for a new mobile-phone processor in a contract to sell chips for Research in Motion’s Blackberry devices.
Wall Street Journal:
- Home Depot, Time Warner, Wal-Mart Stores and other big-name US stocks may be in the “bargain bin,” or trading at earnings multiples lower than they have in several years.
- DreamWorks SKG ended talks over a sale to General Electric’s NBC Universal studios.
- Wal-Mart has begun selling digital-photo prints for 15 cents at its retail stores and 13 cents at its members-only Sam’s Club stores.
NY Times:
- WellPoint, the largest US health-insurance provider, is close to an agreement to buy WellChoice, the biggest NY state health insurer, for about $6.5 billion.
- Genentech’s Avastin, which is approved to treat colorectal cancer, is being used by many specialists to treat age-related macular degeneration.
NY Post:
- The NYSE got a bid from private equity groups Bain Capital LLC and Blackstone Group for 30% of the exchange in late June.
Rocky Mountain News:
- EchoStar Communications will begin selling portable video players next month.
Financial Times Deutschland:
- Royal Philips Electronics NV, Europe’s biggest maker of televisions, expects the price decline for flat-panel televisions to end because of higher demand.
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