Bloomberg:
- NBC Universal’s Olympics television coverage isn’t only losing out to “American Idol” and “Desperate Housewives.” The No. 3 US network, owned by GE(GE), is getting beaten by its own Web site.
- The UK has placed a $58 million order with Baxter International(BAX) and Chiron Corp.(CHIR) for 3.5 million doses of avian influenza vaccine.
- New Jersey may become the second US state to allow gay marriage, and the first to allow homosexuals living outside the state to wed, because of a case heard this month by the state’s highest court.
- Time Warner(TWX) said Ted Turner and Carla Hills will step down from the board of directors after the company’s annual shareholders meeting.
- The IRS found a “disturbing” amount of political activity before the 2004 elections among non-profit organizations in violation of rules on tax-exempt entities.
- Chicago had the biggest surge in hotel acquisitions among US cities last year, pushing it ahead of Washington and Miami as investors headed for a market where demand outpaced construction.
- Crude oil is jumping more than $2/bbl. after Saudi Arabian forces repelled a suicide attack on the Abqaiq processing center, which handles about 7% of world supply.
- A judge considering a halt in US BlackBerry e-mail service criticized both sides in the case for not settling their patent dispute and said he will rule later on a shutdown.
Wall Street Journal:
- National Grid Plc has offered to acquire NY utility and natural-gas distributor KeySpan Corp.(KSE) for about $7.3 billion in an effort to increase business in the northeastern part of the US.
- Hard Rock Hotel’s $1.2 billion plan to add condominiums and hotel rooms to its Las Vegas property has been postponed because of offers to buy the site.
- Chicago Mercantile Holdings is seeking to start trading of products in the credit derivatives field.
- Goldman Sachs(GS), Bank of America(BAC) and Bear Stearns(BSC) may buy a minority stake in the Chicago Stock Exchange.
- More and more mutual funds classified as US stocks funds are investing in companies abroad, which complicates portfolio planning for investors.
Business Week:
- Advance Publications’ GQ magazine plans to encourage readers of the mean’s monthly to subscribe to a text messaging service that may transmit notes about events, private sales and giveaways to cell phones.
LA Times:
- The Univ. of Southern California announced yesterday it received a $25 million donation from billionaire Eli Broad’s Broad Foundation to construct a stem cell research facility.
NY Times:
- The US’s largest companies expect a $4 billion subsidy for their retiree health plans over the next four years under Medicare’s new prescription drug benefit, citing a study by Credit Suisse First Boston.
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