News Digest 6/29/2006
Stocks: (GOOG)(YHOO)(BP)(F)(GM)(DCX)(SYMC)(PFE)(WMG)(RSAS)(EMC)
According to Reuters, the Federal Reserve is set to raise rates for the 17th consecutive time.
Reuters also reports that Google will release its new online payment service today. It will be called Google CheckOut.
The Wall Street Journal writes that a federal judge has approved a Yahoo! click fraud settlement in which the internet company was accused of not providing adequate protection for fruadulent clicking on ads on its service.
The Wall Street Journal reports that traders from BP illegally cornered a portion of the U.S. propane market in 2004 causing prices to rise in seven million homes.
The WSJ also writes that Ford is hitting stronger resistance that it thought several months ago. The company is trying to restructure its North American operations to get them profitable again. The company's SUV sales have been hurt by rising gas prices.
The WSJ reports that Tenet will pay $725 million to settle charges that it manipulated Medicare to get higher payments.
The WSJ writes that Symantec is fighting a U.S. tax bill of $1 billion involving Veritas Software, a company it acquired.
The WSJ reports that Pfizer will introduce a generic version of Zoloft now that its patent has run out.
The New York Times reports that Detroit car makers are introducing incentives as inventories rise. Chysler is introducing employee pricing. Some incentives from the Big Three could be worth over $5,000 for certain cars. Chrysler may also offer no interest financing to match Ford and GM.
The NYT reports that music companies EMI and Warner Music have each launched bids to take the other over.
RSA Security, which put itself on the market a few months ago, may be sold to EMC in the near future. The deal could be worth $1.8 billion.
Douglas A. McIntyre
According to Reuters, the Federal Reserve is set to raise rates for the 17th consecutive time.
Reuters also reports that Google will release its new online payment service today. It will be called Google CheckOut.
The Wall Street Journal writes that a federal judge has approved a Yahoo! click fraud settlement in which the internet company was accused of not providing adequate protection for fruadulent clicking on ads on its service.
The Wall Street Journal reports that traders from BP illegally cornered a portion of the U.S. propane market in 2004 causing prices to rise in seven million homes.
The WSJ also writes that Ford is hitting stronger resistance that it thought several months ago. The company is trying to restructure its North American operations to get them profitable again. The company's SUV sales have been hurt by rising gas prices.
The WSJ reports that Tenet will pay $725 million to settle charges that it manipulated Medicare to get higher payments.
The WSJ writes that Symantec is fighting a U.S. tax bill of $1 billion involving Veritas Software, a company it acquired.
The WSJ reports that Pfizer will introduce a generic version of Zoloft now that its patent has run out.
The New York Times reports that Detroit car makers are introducing incentives as inventories rise. Chysler is introducing employee pricing. Some incentives from the Big Three could be worth over $5,000 for certain cars. Chrysler may also offer no interest financing to match Ford and GM.
The NYT reports that music companies EMI and Warner Music have each launched bids to take the other over.
RSA Security, which put itself on the market a few months ago, may be sold to EMC in the near future. The deal could be worth $1.8 billion.
Douglas A. McIntyre
posted by douglas mcintyre at 4:50 AM
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