According to Reuters, Yahoo! (YHOO) is seeking a merger with Time Warner’s (TWX) AOL which Microsoft (MSFT) and News Corp (NWS) at a joint bid for the No.2 search company.
Reuters writes that AMR (AMR) shut down about 1,000 flights for safety inspections.
Reuters reports that GM (GM) and Toyota (TM) recalled 662,000 cars in the US.
Reuters writes that airlines are beginning to ask Boeing (BA) for compensation due to the delay of the 787 Dreamliner.
Reuters reports that a large number of Asian hedge funds will be bought out or closed this year.
Reuters reports that Merrill Lynch (MER) is considering expanding its brokerage operations in China.
The Wall Street Journal writes that worldwide inflation is likely to reach the highest level in a decade.
The Wall Street Journal writes that both gas and oil prices reached record highs.
The Wall Street Journal reports that banks are selling risky assets as the debt markets become more active but the extent of these sales may be very limited as risk is still a major Wall St. concern.
The Wall Street Journal reports that Boeing (BA) has delayed the launch of its Dreamliner again.
The Wall Street Journal writes that IAC/Interactive is launching several websites to expand its internet presence.
The Wall Street Journal reports that Dell (DELL) will enter the low-priced PC market.
The Wall Street Journal reports that many hedge funds had their worst quarters in years.
The Wall Street Journal reports that buyers of the riskiest mortgage-backed debt are gaining influence in the market by taking on pool of paper likely to have some defaults.
The Wall Street Journal reports that Circuit City (CC) had its first profit in over a year.
The New York Times writes that George Soros sees the credit crisis topping $1 trillion.
The FT writes that money markets are signaling more concerns about bank due to the difference between overnight lending rates set by central banks and three-month Libor.
Bloomberg writes that China’s trade surplus dropped for the first time in three years.
Douglas A. McIntyre
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