Takeaways for Today (11/09/2007)
Oil closes up on supply concern, Pakistan unrest
Crude-oil futures erased earlier losses on Friday to close higher for the first time in three days, on concerns oil supplies may keep tightening and increasing political tensions in Pakistan may pose a threat to oil shipments.
Dollar Falls to Record Low on Fed Interest-rate cut speculation
The dollar fell to its lowest level against a basket of major currencies on speculation that credit- market losses and slowing economic growth will push the Federal Reserve to cut borrowing costs a third time this year.
Visa files to raise up to $10B in IPO
Visa Inc. late Friday filed with the Securities and Exchange Commission to raise up to $10 billion in an initial public offering of its Class A common stock.
$4.85B Vioxx Settlement
Merck & Co. said Friday that it has agreed to settle the vast majority of the product-liability lawsuits filed by former users of its recalled drug Vioxx for about $4.85 billion.
Whitehouse Station, N.J.-based Merck (MRK 55.90, +1.13, +2.1%) said that the agreement calls for the settlement of 85% of the U.S. cases lodged against it in both state and federal court, or up to 50,000 individual claims. The company added that it currently faces 60,000 individual claims in the United States.
Best Buy to Expand Mobile Stores
Best Buy to Expand Mobile Stores
FCC Moves to Place Restrictions Cable TV
The Federal Communications Commission is likely to impose a new regulation on the largely unregulated cable television industry, the first of what may be more to come.
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This entry was posted by David Choi, on
Sunday, November 11, 2007.
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