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According to Reuters, GlaxoSmithKline Plc has bought global rights to Danish biotech company Genmab’s most promising new drug, a treatment for leukemia, in a record deal worth up to $2.1 billion.

Reuters writes that Ebay will put its China sites into a joint venture with Chinese online company Tom.

Reuters reports that Honda has said it will have record sales next year and is preparing for more growth.

The Wall Street Journal writes that the AT&T purchase of BellSouth may face hurdle after an FCC member said he could not vote on the deal.

The WSJ reports that Oracle posted a 21% jump in earnings but revenue came in at the low end of expectations.

The Wall Street Journal also reports that Delphi and several hedge funds have put together a deal that would bring it out of bankruptcy.

The WSJ writes that AT&T is upping the stake in the TV to the home business by offering 27 high-definition channels on its new service.

The New York Times writes that a federal judge ruled that Wal-Mart cannot be held accountable for labor conditions at off-shore suppliers.

The FT reports that Bank of Japan will keep rate moves on hold.

Barron’s writes that a member of the board of Facebook says that the internet social network site is worth $8 billion and may become an IPO. Yahoo! had determined that the company was worth $1.6 billion when it was looking at making a purchase offer.

Barron’s also reports that Merrill Lynch has named its top 10 stock pick for 2007:

Air Products (APD)

Ambac (ABK)

Ameren (AEE)

Emerson (EMR)

General Mills (GIS)

Genuine Parts (GPC)

Marathon Oil (MRO)

Merck (MRK)

Sun Microsystems (SUNW)

Verizon (VZ)

Douglas A. McIntyre

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