Today's Best Market Rumors (10/23/2009) (TWX)(PALL)(T)(KFT)

Updated throughout the day.

Updated 1.36 PM EST:  Nokia’s (NYSE:NOK) patent suit against Apple (NASDAQ:AAPL) could cost iPhone maker $1 billion  (Reuters)

The  Bank of England may have to increase bond purchases after the UK economy shrank in Q3.  (Bloomberg)

Chrysler Financial will cease business within two years  (CNBC)

Time Warner’s (NYSE:TWX) Time, Inc publishing unit will eliminate serveral hundreds jobs. (PaidContent)

ETF Securities will launcha ETFS Palladium Trust (PALL)  (TheStreet)

Bank analyst Dick Bove is under criticism for changing his opinion on Well Fargo (NYSE:WFC) from “standout” just after the bank released earnings to “sell” nine hours later  (FT Alphaville)

AT&T (NYSE:T) is close to getting government approval of its deal to buy Centennial Communications. (The Deal)

The liabilities of Japan Airlines would exceed assets by $8.8 billion if the carrier is liquidated.  (NYTimes)

A deal for Nelson Peltz not to criticize Kraft (NYSE:KFT), where he is a major shareholder, is set to expire which may complicate the US company’s efforts to takeover Cadbury.  (Financial Times)