Energy Business

Media Digest 7/6/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Small banks are worried that new regulations will hurt their earnings.

Reuters:   A judge approved the sale of GM assets.

Reuters:   Rio Tinto (RTP) sold its food packaging assets for $1.2 billion.

Reuters:   The UN reports that the recession has pushed 90 million more people into extreme poverty.

Reuters:   More bidders are showing an interest in a stake in Porsche.

Reuters:   China will not fight the US as the reserve currency ahead of the G8 meeting.

Reuters:   GM Europe will probably sell Opel to Magna.

Reuters:   Kuwait wants oil price above $60.

Reuters:   About 10 firms have submitted bids for AIG’s (AIG) assets in Taiwan.

WSJ:   India says it projects a deficit of almost $84 billion for the fiscal year.

WJS:   Tech has helped push the market up but now has to prove that was justified with earnings.

WSJ:   Samsung says it expects rising sales.

WSJ:   Venture-backed tech firms are seeking government stimulus dollars.

WSJ:   Wells Fargo (WFC) will beef up its securities business.

WSJ:   PartnerRe will buy Paris Re.

WSJ:   China Investment Corp has appointed a global advisory board.

WSJ:   Chrysler named new directors.

WSJ:   Citigroup (C) named new Asia chiefs.

WSJ:   Quantcast is shaking up new media buying.

WSJ:   Businesses are adopting “scenario planning.”

WSJ:   Severe job cuts have exposed weaknesses in a federal government program to preserve jobs.

WSJ:   Calls are beginning to increase the size of the stimulus package.

WSJ:   The minimum wage increase comes at a bad time for many employers.

WSJ:   Thirty SPACs need to make acquisitions or close out by the end of the year.

WSJ:   Gazprom is burning through cash.

WSJ:   Some early investors are turning against the $8.4 billion City Center project in Las Vegas.

WSJ:   Best Buy (BBY) will start to sell green vehicles.

NYT:   Volatile oil prices are causing fears about the recovery.

NYT:   Symantec (SYMC) and McAfee (MFE) are in a battle to provide security for new computers.

NYT:   Marc Andreessen has started a venture firm with $300 million to invest in IT start-ups.

FT:   Wall St. will start to trade California IOUs.

FT:    UBS (UBS) will overhaul its US brokerage operations.

FT:   Wall St. firms are creating new securities to help bank balance sheets.

Bloomberg:   Q2 earnings dropped worldwide as consumer spending faltered.

Bloomberg:   The Treasury may refrain from using voting stock it has received in US companies to influence decisions.

Douglas A. McIntyre