Bloomberg:
- Oil is mostly unchanged after OPEC lowered its 4th quarter global demand growth forecast and said Non-OPEC production is poised to rise the fastest pace since 1984.
- Intel Corp.(INTC) said fourth-quarter sales will be higher than expected because of market share gained from smaller rival Advanced Micro Devices(AMD).
- Charles Schwab(SCHW), the largest US discount broker, said third-quarter profit rose 29% as lower commissions and the biggest stock gains of the year spurred demand from retail investors.
- Carlyle Group and Providence Equity Partners agreed to purchased Open Solutions(OPEN) for about $1.3 billion including debt as buyout firms increase their takeovers of technology companies.
- Mitsubishi Electric Corp., a Japanese maker of robots and other factory gear, said it will be investigated by the US government for alleged antitrust violations related to SRAM memory chips.
- General Motors(GM) said sales volume in China rose 37% to a record in the first nine months from a year earlier as the company added more models in the country.
- Natural gas is rising in NY, rebounding from a 12% slump the past three trading days, as forecasters predicted cooler weather in the Midwest will lift consumption.
Wall Street Journal:
- Tom LaSorda, who heads DaimlerChrysler AG’s(DCX) Chrysler subsidiary, and Joe Eberhardt, the unit’s top marketing executive, will hold the first of a series of meetings with US dealers today aimed at cutting Chrysler’s inventory of 50,000 vehicles.
- More hedge funds are focusing on a single Asian country as investors are willing to take on more risk in the region. There were 301 single-country funds in Asia at the end of 2005, up 31% from the end of 2004.
- Apple Computer’s(AAPL) COO Tim Cook has run the company smoothly from behind the scenes, in contrast to the public profile of CEO Steve Jobs.
- Liz Claiborne(LIZ) has picked Willliam McComb, 43, an executive at Johnson & Johnson(JNJ), as its new CEO.
- UnitedHealth Group(UNH), whose CEO, William McGuire, is stepping down because of an options scandal, has a big reserve of management talent, so it may well be possible for it to get back on track.
- The US Department of Homeland Security will restructure the way it works with local police departments in dealing with tips on terrorist and other attacks.
NY Times:
- The SEC is investigating whether some hedge funds acted on insider knowledge because they lent money to Movie Gallery.
- Procter & Gamble(PG) and JP Morgan(JPM) are among companies that are experimenting with non-traditional advertising to find new customers among visitors to social networking Web sites.
AP:
- Japan must watch out for possible terrorist attacks by North Korea after sanctions were imposed on the country, Deputy Director General Hiroto Yoshimura of the National Police Agency said.
- Yahoo!(YHOO) will carry news clips from 16 CBS Corp.(CBS) television stations across the country.
AFP:
- The chief prosecutor in former Iraqi dictator Saddam Hussein’s first trial hopes the verdict will be delivered in a session scheduled today for Nov. 5.
Interfax:
- Russian industrial output rose an annual 4.1% in September, slowing from 5.6% a month earlier.
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