Newspaper wrap-up: OPEC may increase crude output
Posted Sep 11th 2007 9:15AM by Eric Buscemi
Filed under: Newspapers, Magazines, General Motors (GM), Countrywide Financial (CFC), Goldman Sachs Group (GS), First Data (FDC)
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MAJOR PAPERS:
- Barron's Online's (subscription required) "Weekday Trader Extra" reported that Wall Street is eyeing the negotiations of the First Data Corp (NYSE: FDC) buyout, as there has been talk that Kravis Roberts might be willing to make some concessions to a bank group arranging financing for the purchase.
- The Wall Street Journal (subscription required) reported that General Motors Corp (NYSE: GM) has sent the UAW two proposals as their negotiations are nearing the deadline.
- With near record high oil prices, there are signs that OPEC may increase crude output 2%, or 500,000 barrels a day, as a gesture to comfort oil markets, according to the Wall Street Journal.
OTHER PAPERS:
- The Associated Press reported that EPR, a leftist guerrilla group, said they caused a number of explosions yesterday aimed at about six Mexican oil and gas pipelines, resulting in millions of dollars in lost production and unsettling financial markets.
- Countrywide Financial Corporation (NYSE: CFC) is reportedly working with Goldman Sachs Group (NYSE: GS) and a law firm to put together another multi-billion dollar bailout plan for Countrywide, the nation's largest home lender, reported the New York Post.
- Sir Martin Sorrell believes that WPP Group (NASDAQ: WPPGY), the company he has built and is currently the CEO of, is likely to appoint his successor from within the company, reported the Telegraph.
Tags: ap, associated press, AssociatedPress, barron's, barrons, cfc, countrywide, fdc, first data, FirstData, general motors, GeneralMotors, gm, newspaper, ny post, NyPost, oil, opec, paper, periodical, telegraph, wall street journal, WallStreetJournal, wpp group, WppGroup, wppgy, wsj
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