24/7 Wall St.

According to Reuters,  US senator Charles Schumer has asked the SEC to look at conflicts of interest at bond rating firms.

Reuters writes that Washington Mutual (WM) are in favor of the company having a new chairman.

Reuters writes that Intel (INTC) turned in good margins and a strong forecast.

Reuters reports that the head of UBS (UBS) say it will take three years to repair the bank’s reputation.

Reuters writes that critics of hedge fund oversight want the government to take a stronger hand in regulating them,

The Wall Street Journal reports that Merrill Lynch (MER) will report a loss and will write-down $6 billion to $8 billion in mortgage-related securities.

The Wall Street Journal writes that Venezuela will begin to tax profits of foreign oil companies.

The Wall Street Journal reports that United (UAUA) and AMR (AMR) could potential do mergers which would sharply cut the number of large airlines in the US.

The Wall Street Journal writes that China’s GDP grew 10.6% in the first quarter, a slowing from the last quarter of 2007.

The Wall Street Journal reports that Microsoft (MSFT) plans to lend more to its small business customers.

The Wall Street Journa writes several large companies, including Nokia (NOK) and Alcatel-Lucent (ALU) will limit the fees that they charge carriers for the next generation for ultra-fast internet.

The Wall Street Journal reports that News Corp’s (NWS) MySpace will begin aggressive expansion overseas.

The Wall Street Journal writes that the market in credit default swaps has been soaring.

The Wall Street Journal writes that China has taken a 1% stake in BP (BP).

The Wall Street Journal reports that the options market is betting Citigroup (C) will cuts its dividend again.

The Wall Street Journal writes that the competition among online ad networks is growing.

The New York Times writes that successful hedge fund managers had huge pay-days in 2007.

The New York Times writes that Merck (MRK) wrotes some research reports on its drugs instead of doctors doing it on their own.

The FT writes that GE (GE) will invest $2 billion in China.

Bloomberg reports that inflation in China hit an 11-year high.

Douglas A. McIntyre