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Accoriding to Reuters, Sony (SNE) will launch a cheaper version of its PS3 in the US in hopes of taking market share from Microsoft (MSFT) and Nintendo.

Reuters writes that British Air (BAB) may be consideriga merger with American Air (AMR) to create a Trans Atlantic super-carrier.

Reuters also writes that VW will offer more aggressive pricing in the US as it tries to take more share.

Reuters reports that News Corop (NWS) will open up the software of MySpace to more developers in a move to counter similar options at rival Facebook.

Reuters writes that the SEC has opened a probe of the trading activities of the CEO at Countrywide (CFC).

Reuters also reports that Ebay (EBAY) showed improved auction volume but took a large write-down on Skype.

The Wall Street Journal wirites that Sony (SNE) is sxpected to sell its advanced chip business to Toshiba.

The Wall Street Journal writes that Apple (AAPL) will open its iPhone to third party developers.

The Wall Street Journal also writes that SAP (SAP) earnings ose 10%.

The Wall Street Journal reports that Boston Scientific (BSX) cut jobs due to softness in sales.

The Wall Street Journal also reports that Morgan Stanley (MS) sold its huge stake in The New York Times (NYT).

The Wall Stree Journal writes that new data show HP (HPQ) widening its unit sales lead over Dell (DELL)

The New York Times writes that a writer’s strike could badly hurt the TV industry

The FT writes that results at JP Morgan (JPM) indicate that the bank avoided many of the mistakes made by other financial institutions during the credit crisis.

Barron’s writes that The Wall Street Journal will increase its national and international news coverage.

Douglas A. McIntyre