24/7 Wall St.

According to Reuters, oil prices jumped to $78 on news the pipelines in Mexico had been blown up.

Reuters writes that AIG (AIG) is targeting 10% of the wealth management business in Taiwan.

Reuters reports that any possible extra OPEC crude supplies will be offset by planned maintenance on United Arab Emirates oilfields in late October and November, traders said on Tuesday.

The Wall Street Journal reports that hedge funds lost 1.3% in August, their worst performance in over a year.

The Wall Street Journal writes that GM (GM) has made two proposals to the UAW. One would provide money for a healthcare fund run by the UAW. The other includes substantial job cuts.

The New York Times reports that a billionaire has bought a 7% stake in Bear Stearns (BSC).

The FT writes that a new report says that the push toward biofuels could drive food prices to levels to high for consumers to support.

Barron’s writes that forecasts from Take-Two (TTWO) drove its share price higher.

Bloomberg reports that a large market for fake iPhones has emerged in Asia.

BusinessWeek reports that Apple (AAPL) may bid for the rights to a wireless spectrum auctioned by the Federal Communications Commission,

Silicon Alley Insider reports that the growth of YouTube’s audience and its struggles with ad revenue could bring down reveue growth at Google (GOOG).

Douglas A. McIntyre