Reuters: GM (GM) will file for Chapter 11 today.
Reuters: Geithner told China its dollar assets are safe.
Reuters: A judge approved the sale of most of Chrysler’s assets to a group led by Fiat.
Reuters: German cut a deal to save Opel.
Reuters: Private equity firm KKR lost $1.8 billion last year.
Reuters: Elan is in talks to sell a stake to Bristol-Myers (BMY).
Reuters: China’s economy is stabilizing and exports moved up slightly.
Reuters: The Fed is puzzled by the steepening of the yield curve.
WSJ: Ford (F) will increase production next quarter in an attempt to take business from its rivals.
WSJ: “Lawmakers are pressing the Treasury Department to close a loophole to protect Social Security and disability benefits deposited in bank accounts from creditors.”
WSJ: Emulux is expanding its push to prevent a takeover by Broadcom (BRCM).
WSJ: Merck (MRK) and AstraZeneca are testing a new experimental cancer drug.
WSJ: Geithner urges China to open its economy.
WSJ: Emerging nations are increasing demand for key resources.
WSJ: The Fed’s attempt to keep mortgage rates low is not working well.
WSJ: The IMF expects jobs to trail GDP growth.
WSJ: The demand for oil is staying low.
WSJ: Weak demand for electricity could help consumers this summer.
WSJ: Foreclosures are having a mixed impact on sales.
WSJ: Temasek Holdings may sell its holding in Chartered Semiconductor.
WSJ: Losses at homebuilders are expected to narrow.
WSJ: International markets are at the center of the new stock rally.
WSJ: The ISM data may not show a sharp recovery in the economy.
WSJ: Improving results at banks are sending them on hiring sprees.
WSJ: Commercial real estate will be a drawn-out problem for banks.
WSJ: Retailers are felling the impact for foreclosures.
NYT: The Big Three are no longer in a position to help bring the economy out of a recession.
NYT: The battle for trading derivatives is at the heart of how much regulation of the banks is too much.
NYT: Google (GOOG) will take on Amazon (AMZN) in the e-book business.
FT: Microsoft (MSFT) and Sony (SNE) are taking aim at the market share of the Nintendo Wii.
FT: A new reports says that the rebound in stocks cannot be sustained.
FT: The US energy markets are bracing for hurricane season.
Bloomberg: Goldman Sachs (GS) says commodity demand will produce a 19% return this year.
Douglas A. McIntyre
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There is still some conversation about the federal government restricting short-selling activity in certain stocks. The counterargument to these restrictions is that short selling plays an important role in the valuation of securities by efficiently allowing investors to bet that a stock will fall as readily as they can bet that it will rise. Short sellers have the reputation, whether deserved or not, for trying to manipulate information about public companies with the hope of driving their prices down. That may be true.
