Bloomberg:
- Billionaire investor Warren Buffett said he offered to shore up $800 billion of municipal bonds guaranteed by troubled MBIA Inc.(MBI), Ambac Financial(ABK) and FGIC Corp. in a bid to gain 33% of the debt insurance market.
- Bank of America(BAC), Citigroup(C) and four other US lenders agreed with Treasury Secretary Henry Paulson to take new steps to help borrowers in danger of foreclosure stay in their homes.
- Bill Miller Says Microsoft(MSFT) Will Need to ‘Enhance’ Yahoo(YHOO) Offer.
- Boeing Co.(BA), the world’s second-biggest maker of commercial aircraft, said its planes may be flying on a mix of biofuel and jet kerosene within five years. A Virgin Atlantic Airways Ltd. Boeing 747 is scheduled to make the first biofuel-powered test flight for a commercial plane later this month. Boeing is focusing on so-called second-generation biofuels such as algae, oil from Babassu nuts and the hardy Jatropha bush.
- Genworth Financial(GNW), the insurer divested by GE, expects its
- AIG(AIG) Credit-Default Swap Losses Won’t Be ‘Material’.
- Monsanto Co.(MON), the world’s biggest seed producer, raised its 2008 profit forecast because of demand for week killer and genetically modified corn and soybeans.
- Julius Baer Group rose the most in 10 days in Zurich trading on speculation that Goldman Sachs(GS) may be interested in taking over Switzerland’s biggest independent money manager.
- Legg Mason Capital Management raised its stake in Countrywide Financial(CFC), the biggest
- Nuance Communications(NUAN), the biggest maker of speech-recognition software, surged the most in a year after forecasting second-quarter sales that beat estimates on rising demand for its mobile-phone products.
- Nokia(NOK) will offer Google’s(GOOG) search engine on some handsets and will work with Orange SA to promote its Internet services and boost sales of devices with Web access.
- Danish police arrested three suspects in an alleged plot to murder one of 12 cartoonists whose caricatures of the Prophet Muhammad in 2005 sparked riots in Muslim communities around the world.
- Citigroup(C) has never been held in such low esteem by debt investors, and that’s why Prince Alwaleed bin Talal isn’t the only one in love with the bank whose looks are deceiving.
Wall Street Journal:
- H&R Block(HRB) Seen by Some as Well on Road to Recovery.
NY Times:
- US Immigration Rules Eased to Cope With Backlog.
- More Hedge Funds Likely to Fail as Losses Mount.
ZDNet:
- Google ‘Android’ Phones Debut at Barcelona Show.
news-journalonline.com:
- Officials tout alternative fuel to aid state farmers.
NY Sun:
- Applications for admission skyrocket at NYU.
- Quinn to Propose Incentive Pay for Some Teachers.
Reuters:
- America Movil SAB, the biggest mobile-phone carrier in
- Alternative investments firm First Avenue Partners said on Monday it planned to raise up to $750 million for a portfolio that will invest with start-up hedge funds, as well as funds that have seen heavy outflows.
Financial Times:
- Hedge funds investing in emerging markets pick
YLE TV:
- Nokia(NOK) phones are being rejected by Germans following the announcement that the company would close its factory in the German town of
El Universal:
- Supporters of Venezuelan President Hugo Chavez asked federal investigators to examine programming at privately-owned news channel Globovision, which they say has “slandered” the president.
Xinhua:
-