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Friday, October 20, 2006

Media Digest 10/20/2006 Reuters, WSJ, NYT


According to Reuters, OPEC has agreed to cut oil production by 1.2 million barrels a day, the first such cut in two years.

Reuters writes that Microsoft stated that McAfee's comments about the PC security features in its new Vista operating system were "inaccurate and inflammatory".

Reuters writes that the CEO of Google said that its purchase of YouTube could lead to a number of video advertising partnerships.

The Wall Street Hournal writes that Chrysler will try to save $1,000 in expenses on each car it produces by cutting supplier costs and sales and marketing expenses. The company may also close a plant.

The Wall Street Journal also reports that Google's earnings almost doubled and revenue rose 70% aided by sales overseas and the firm's sites driving up online sales.

China bank ICBC completed the world's largest IPO raising about $21. 9 billion, according to the WSJ

The Wall Street Journal also reports that several drug makers reported higher earnings. These included Pfizer, Novartis, and Eli Lilly.

The New York Times reports that Richard Grasso, former head of the NYSE, was asked to return up to $100 million of his compensation. He was forced to leave the exchange in 2003 over a compensation dispute.

The New York Times also writes that Citigroup reported lackluster results while rival Bank of America's net rose 41%

Douglas A. McIntyre

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