Newspaper wrap-up: Economists see a lessening chance of recession

MAJOR PAPERS:

A WSJ.com survey found that economists are more optimistic about the economy and see a lessening chance of a recession, the Wall Street Journal reported.
Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK.A) sold its shares in the China-controlled PetroChina Company Limited (NYSE: PTR), according to the Wall Street Journal's "Heard on the Street" column, leading many investors uncertain about China's stock valuations.
The WSJ also reported that a jury in Nevada awarded $134.5M to three women who said hormone therapy drugs manufactured by Wyeth (NYSE: WYE), including Prempro and Premarin, caused their breast cancer.

OTHER PAPERS:

The SEC began an inquiry into oversight of the New York State pension fund. The SEC is trying to find out if civil violations of federal securities laws were committed, the New York Times reported.
Over 90,000 children's products imported by J.C. Penny Company (NYSE: JCP) from China, Taiwan and Vietnam, were recalled because of dangerous levels of lead, the Associated Press reported.

WEB SITES:

Google Inc (NASDAQ: GOOG) said on its blog that it has improved its service for the Shanghai and Shenzhen stock exchanges by providing pricing data in real time and hopes the SEC will approve their "Last Sale" proposal, which would allow users free and unlimited access to real-time last sale prices for the NYSE and Nasdaq stocks.

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