Early Edition September 09 2008 at 05:58 AM Chi-Chu Tschang and Harry Maurer
Saudi Minister Casts Doubt on OPEC Cut
Ali Naimi, the powerful oil minister of Saudi Arabia, has described the oil market as "balanced," casting doubt on whether the cartel will move to reduce output at its meeting Sept. 9 in Vienna. With prices down 25% since July, some analysts had predicted OPEC would trim production to shore up prices.
Meanwhile, energy giant Royal Dutch Shell will likely win the right to extract as much as $4 billion in gas from Iraq's Basra region, becoming the first Western company to sign a deal with the Iraqi government since the U.S.-led invasion in 2003.
Source: Financial Times
LSE Glitch Halts London Trading
On a day when global stock markets were soaring, a technical glitch at the London Stock Exchange halted trading for seven hours on Sept. 8, costing traders billions of dollars in lost transactions.
Source: Wall Street Journal
DreamWorks Financing Deal Remains Elusive
You know it's tough out there when even Steven Spielberg is having trouble lining up money to launch a new movie company.
Source: Los Angeles Times
Financial Stocks: Is It Safe Yet?
The Federal bailout of mortgage giants Fannie Mae and Freddie Mac has made some investment pros more optimistic about investing again in financial services stocks. But individuals may want to think twice before jumping back in.
Source: BusinessWeek
The Internet Effect: UAL Shares Plunge on Old News
Shares in United Airlines parent UAL Corp. plunged 75% on Sept. 8 after an investment newsletter mistakenly picked up from Google a six-year old story about the company's 2002 bankruptcy filing.
Source: Financial Times
BG Scraps $11 Billion Bid for Origin Energy
Britain's BG Group has abandoned a hostile takeover attempt for Australian giant Origin Energy after refusing to raise its offer beyond $11 billion.
Source: Times of London
U.S. Closes the Mobile Innovation Gap
No longer a laggard in mobile services, the U.S. is now aiming to take a lead in development of innovative new devices and software to exploit the wireless Web.
Source: BusinessWeek
Google and HSBC Back African Internet Project
The search giant and Europe's largest bank have joined forces to back an ambitious project aimed at bringing Internet access to 3 billion more people in Africa and other emerging markets.
Source: Reuters
Ouster of VMware CEO is Still Reverberating
Since Diane Greene was fired in July as CEO of the virtualization software maker, three other top officials have left and the company is struggling to recover.
Source: New York Times
A Clearer Picture of the Digital TV Rollout
In Wilmington, NC, the first U.S. city to switch to all-digital broadcast television, some people couldn't cope with the transition-- giving officials a clearer sense off the challenges ahead as the migration from analog signals rolls across the country.
Source: Los Angeles Times
Nokia Eyes More Internet Acquisitions
To flesh out and speed up its strategic shift into online and mobile services, the world's No. 1 cell phone maker may buy yet more companies, a top executive says.
Source: Reuters
Microsoft Takes Another Stab at Apple's iPod
The software giant has released an undated version of the Zune portable media player--its latest attempt to challenge Apple's daunting lead with the popular iPod.
Source: MarketWatch
Conversation of the Day: Companies Bridge Cultures
Reader Jonathan Kroner writes: "Cross-cultural education is a great topic. In future articles, it would be interesting to read more about customers' results, and what worked for them."
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