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Monday, July 31, 2006

Media Digest 7/31/2006


According to Reuters, GM and the UAW are supporting the new pension bill which will be voted on by the US Senate. The bill requires all major corporations, except some major airlines, to fully fund their pensions within seven years.

Reuters says banking giant HSBC has a profit increase of 18% in the first half of the year.

Reuters writes that Sandisk will buy Msystems, which develops memory for mobile phones. The price is $1.55 billion in stock.

According to the Wall Street Journal, two California defence operations have been put up for sale. One is Northop's navigation system unit, which could be sold for $1 billion. The other is Wyle Labs, which is on the market for under$400 million.

The WSJ writes thatAOL says it plans a video content portal for both material provided by users and cable TV content.

The WSJ reports that Verizon Wireless will release a new handset that plays music as the cellphone company moves into the MP3 market.

The New York Times reports that a Chinese union has begun to organize workers at Wal-Mart in China. The union is known for supporting management rather than employess.

Douglas A. McIntyre

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