According to the New York Times, the growing Chinese car market may not be large enough to support all of the sales aspirations of large international car makers and local Chinese companies. Chinese brands currently own 26% of the market. While vehicle sales in the country should hit $74 billion, a number of companies like GM, Ford, and Toyota are all chasing shaer.
The New York Times also reports that Universal Music is suing News Crop unit MySpace for copyright infringement on audio and video posted on the website.
The New York Times also writes that consumers are not always aware when cable companies and telecoms are offering access in their areas.It is also difficult for customers to sort out the array of services that often offer broadband, telephone and TV.
The New York Times reports that housing starts hit a six year low last month.
The Wall Street Journal reported that a senior manager at Yahoo! has written a memo criticizing the company’s "all things to all people" approach. The memo suggests more concentration of effort on key content areas and substantial lay-offs.
The Wall Street Journal also writes that the FDA has approved new silicon breast implants from Allergan and Mentor.
The Wall Street Journal also writes that US Air has started to build support among Delta’s credits for a takeover of the airline.
The Wall Street Journal reports that the SEC has asked Ford for more information on its recent earnings restatements.
According to Reuters, Chrysler is targetting cost cuts of $1,000 in the price of producing US vehicles. The plans may involve outsource certain goods and services overseas.
Reuters reports that sales of Playstation 3 from Sony have been brisk since it recent product introduction.
Douglas A. McIntyre