Investing
Media Digest 11/20/2006 Reuters, Wall Street Journal, New York Times
Published:
Stocks: (FCX)(PD)(GM)(TWX)(NDAQ)(NYX)(YHOO)(BAC)
According to Reuters, Freeport McMoRan, the metals company, has agreed to buy Phelps Dodge of $25.9 billion.
Reuters writes that Blackstone has agreed to buy real estate firm Equity Office Properties for $19 billion, not including the company’s debt.
Reuters reports that the Nasdaq Stock Market has launched a bid to buy the Londan Stock Market for $5.1 billion.
The Wall Street Journal reports that Bank of America will buy US Trust for $3.3 billion with plans to build its business in providing bank services to the wealthy.
The Wall Street Journal also writes that Nintendo has launched its new game console, the Wii.
The New York Times reports that Yahoo! will form a partnership with 176 newspapers to share content, classified ads and technology. The move accelerated that attempt by newspapers to replace falling print advertising.
The New York Times reports that GM has decided that most of its global growth will come from building small cars in rapidly expanding auto markets like China and India.
The New York Times also reports that TIme Warner is actually getting some synergy from its purchase of AOL through a joint venture with Warner Bros, the online site TMZ.com. The internet entertainment destination has 6.8 million unique visitors.
Douglas A. McIntyre
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