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Friday, August 11, 2006

Media Digest 8/11/2006 Reuters, WSJ, NYT

Stocks: (N)(GM)(DCX)(BP)(EXPE)(DISH)

According to Reuters, BETonSports, the British online betting firm, closed its US operations.

Reuters writes that BP has not decided whether to keep the west half of Prudhoe Bay open, even though the company has received government approval.

Reuters reports that BMW, GM, and DaimlerChrysler will invest $1 billion in developing a new hybrid car technology that may be superior to the one currently used by Toyota.

Reuters writes that Delphi's court hearing on its contract with the UAW has been delayed by further negotiations with the union.

The WSJ writes Brazilian mining sompany CVRD is preparing to launch a $15.1 billion takeover bid for Canadian nickel company Inco, making it the third company with an active bid.

The WSJ reports that GM has said it will slow production of its large SUVs as consumers move away from them due to high gas prices.

The WSJ also reports that profits at online travel giant Expedia grew 30% to $95.5 million at increased hotel bookings offset a softness in airline tickets.

The New York Times reports that the UK terrorism plot throws into doubt whether the recent recover in airline traffic and stock prices will continue.

The NYT reports that revenue at EchoStar rose 17% to $2.46 billion.

Douglas A. McIntyre

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