Monday, December 17, 2007

Today's Headlines

- Goldman Sachs(GS) may start its newest stock hedge fund with as much as $10 billion in what would be the biggest debut in the industry’s history.
- Oil is falling $1.42/bbl. to $89.85/bbl. in NY on worries over rising global supplies, decelerating global demand and a stronger US dollar.
- Copper is falling to a nine-month low on worries over rising global stockpiles and slowing demand.
- Former President Bill Clinton’s decision to reconsider a business relationship with California billionaire Ron Burkle reflects concern those financial dealings may embarrass his wife’s presidential candidacy.

- Insider Buying of Retailers, Led by Dillard’s, Climbs.
- Ambac Financial Group(ABK) rose as much as 26%, and MBIA Inc.(MBI) climbed after Moody’s Investors Service affirmed the Ass credit ratings on the companies’ bond insurance units.

Wall Street Journal:
- Ingersoll-Rand(IR) has agreed to acquire Trane in a cash-and-stock deal valued at approximately $10.1 billion that would create one of the world’s largest makers of air conditioners and other climate-control systems.

- Will a Twist on an Old Vow Deliver for Domino’s Pizza(DPZ)?
- The Senate appears poised to hand the White House another victory with a measure that would make permanent an expansion of government spy powers and shield phone companies from liability for assisting government eavesdropping.

NY Times:
- Faster Chips Are Leaving Programmers in Their Dust.
- Can an untested Silicon Valley startup with the slightly embarrassing name Ribbit take on corporate giants like Microsoft(MSFT) and Avaya(AV)?

- China Eastern Airlines Corp. aims to buy 40 Airbus SAS A320s and is in talks to buy about 40 Boeing Co.(BA) 737s to expand domestic routes, citing the company’s chairman, Li Fenghua.

China Securities Journal:
- China will “actively and prudently” use interest-rate policy to stabilize inflation next year, citing People’s Bank of China Vice Governor Liu Shiyu.

- Syria and Iraq discussed plans to build a new oil pipeline to carry crude from Baghdad through Syrian territories. The two countries also discussed resuming operations on the Kirkuk-Baniyas oil pipeline from northern Iraq to the Syrian Mediterranean coast.

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