According to Reuters, UBS (UBS) will cut 5,500 jobs. The company is also selling $15 billion in subprime mortgage paper to Blackrock.
Reuters writes that Bernanke says that high foreclosure rates are still a threat to the economy.
Reuters writes that M&A rumors pushed Sprint’s (S) stock higher.
Reuters reports that the head of Merrill Lynch (MER) said the firm would not have to raise more capital.
Reuters reports that Vodafone (VOD) will begin to sell the Apple (AAPL) iPhone in ten countries.
Bloomberg reports that Yahoo! (YHOO) is still open to talk with Microsoft (MSFT) if the offer is at the right price.
Bloomberg writes that $150 to $200 oil is likely in the next six to 24 months according to a Goldman analyst.
The Wall Street Journal writes that Citigroup (C) CEO Pandit is under pressure to be more decisive and turn the bank around.
The Wall Street Journal reports the US regulators plan to take more of a role in oil and gas markets.
The Wall Street Journal writes that Bank of America (BAC) is standing by its bid for Countrywide (CFC).
The Wall Street Journal writes that some of Yahoo!’s big shareholders were critical of the company for not taking Microsoft’s bid of the company.
The Wall Street Journal reports that Sears (SHLD) is preparing for a economic slump.
The Wall Street Journal writes that Merck (MRK) will make huge cuts in its sales force.
The Wall Street Journal reports that Microsoft (MSFT) will try to boost sales of its Zune by making music sharing among devices easier.
The Wall Street Journal reports that Qwest (Q) will use Verizon (VZ) for its wireless services.
The Wall Street Journal writes that AMD (AMD) has expanded its antitrust accusations against Intel (INTC).
The Wall Street Journal writes that the price of crude oil moved above $120.
The New York Times writes that Fannie Mae (FNM) and Freddie Mac (FRE) may need bail-outs.
The New York Times writes that a strike at a GM (GM) plant may hurt sales of one of its most popular cars.
The FT writes that US banks continue to tighten lending.
The FT writes that Target (TGT) will sell part of its credit card portfolio ot JP Morgan (JPM)
Douglas A. McIntyre