Newspaper wrap-up: Bernanke calls housing a 'significant drag'
Posted Oct 16th 2007 9:10AM by Eric Buscemi
Filed under: Newspapers, Magazines, Adobe Systems (ADBE), Verizon Communications (VZ)
.gif)
MAJOR PAPERS:
- Barron's Online's (subscription required) "Inside Scoop" column reported that Adobe Systems (NASDAQ: ADBE) founder and co-chairman John Warnock sold 25K shares for $1.1M last week, according to SEC data.
- The Wall Street Journal (subscription required) reported that Ben Bernanke, the Federal Reserve chairman, last night said that while the housing market will continue to be a "significant drag" on the U.S. economy next year, strong income growth has kept consumer spending steady.
OTHER PAPERS:
- Verizon Communications (NYSE: VZ) told Congressional investigators that it has provided customers' telephone records to federal authorities in emergency cases without court orders hundreds of times since 2005, reported the Washington Post.
- Ad agency WPP Group (NASDAQ: WPPGY) is in final negotiations to acquire Blast Radius, an Internet agency, reported the U.K. Times.
- Smith & Nephew (NYSE: SNN) is being investigated by the SEC on bribery allegations, according to the U.K. Times.
- Activist investor Knight Vinke is attacking HSBC (NYSE: HBC) once again, according to the U.K. Times.
WEBSITES:
- DigiTimes.com reported that Taiwan Semiconductor Manufacturing Company (NYSE: TSM) has denied a report by the Ottawa Citizen which speculated that Taiwan Semi was seeking to acquire Canadian design house Emerging Memory Technologies, saying the rumors were false.
- TechCrunch.com reported that Napster (NASDAQ: NAPS) is switching from its desktop client to a fully web based client, enabling users to listen to their music from any computer after logging into the service.
Tags: adbe, adobe, barron's, barrons, bernanke, digitimes, inside scoop, InsideScoop, newspaper, paper, periodical, techcrunch, uk times, UkTimes, verizon, vz, wall street journal, WallStreetJournal, washington post, WashingtonPost, wpp group, WppGroup, wppgy, wsj
Nuclear power is on the comeback trail
Apple backs AT&T in continuing spat with Verizon
Closing Bell: The recession is still over, still... do you feel it?
