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Tuesday, August 29, 2006

Media Digest 8/29/2006: WSJ, NYT, Reuters


Reuters reports that Bayer is overhauling its agrochemicals business after strong healthcare performance helps the company increase earning 14% in the June quarter.

The Wall Street Journal reports that the federal government is probing whether BP manipulated the price of crude oil and unleaded gas. The CFTC has sent subpoenas to both BP and some energy traders.

Reuters also reports that Brown Forman will buy the premium tequila maker, Mexico's Casa Herradura for $876 million.

The Wall Street Journal reports that Intel is introducing a new high-end chip to compete with AMD. The new Xeon chip, named Tulsa, is aimed at high-end servers which run at least four chips.

The Wall St Journal also writes that Sony and Apple could have a major effect on the chop market in the second half. The two companies could be 40% of the global demand for NAND flash memory chips. Demand for the product has been weaker than expected causing prices to drop. Toshiba and Samsung are the largest manufacturers of the chips.

The New York Times writes that the Chrysler Group expects gas prices to remain in the $3 to $4 range for the balance of the decade. The company is preparing a business model based on the higher fuel prices.

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