Tuesday, November 27, 2007

Today's Headlines

- Google Inc.(GOOG) created a research group aimed at developing cheaper renewable energy sources, focusing on solar, wind and other alternative forms of power.
- MBIA Inc.(MBI) and Ambac Financial(ABK), the two largest bond insurers, are considering raising capital through reinsurance or sales of debt or stock to maintain their AAA ratings, executives said.
- Cheng Jian Wei, on a 24-hour visit to NY from China, was willing to risk missing his bus to the airport for the chance to buy his son an iPod at Apple’s(AAPL) Fifth Avenue store.
- Treasury two-year notes fell the most in more than three years after Abu Dhabi agreed to invest $7.5 billion in Citigroup(C), boosting stocks and easing demand for the relative safety of government debt.
- Carlyle Group’s Blue Wave hedge fund has lost 9.3% since being started in March by the Washington-based firm to expand beyond buyouts. The fund, overseen by former Deutsche Bank AG executives Rick Goldsmith and Ralph Reynolds, fell 9.5% in October after beginning the month with $690 million in assets.
- Thornburg Mortgage(TMA) will reinstate its dividend, possibly as early as next month, said COO Larry goldstone.
- The Baltic Dry Index, a measure of the cost of hauling commodities, posted its longest losing streak since May amid a decline in Chinese iron-ore imports and expectations that global economic growth with slow.
- Crude oil is falling more than $3/bbl. in NY after Saudi Arabia’s oil minister said the country increased production to the highest this year.
- Gold is falling the most in a week after a decline in energy costs reduced demand for the precious metal as a hedge against inflation.

Wall Street Journal:
- NBC Universal agreed to become the first major television broadcaster to use TiVo’s viewership data and ad products.

NY Times:
- California’s Orange County Water District plans to start the world’s largest plant to purify sewer water enough for it to be drinkable.

Boston Herald:
- Massachusetts may become the first state in the nation to make it illegal for parents to slap or spank their children.

USA Today:
- The Department of Homeland Security is creating new technologies including camera systems and chemical sensors to detect improvised explosive devices.

Dow Jones:
- OPEC is discussing a 750,000-barrel-a-day increase in production because of concerns about the effect of oil prices on the US economy, citing an OPEC delegate.

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