Newspaper wrap-up: FTC rejects requests to investigate Intel

MAJOR PAPERS:

CtW Investment Group sent a letter to Countrywide Financial Corporation's (NYSE: CFC) Board of Directors "urging" for the resignation of CEO Angel Mozilo, reported the Wall Street Journal (subscription required).
According to antitrust attorneys, a possible merger with a Big Pharma company may result in Biogen Idec (NASDAQ: BIIB) having to divest some overlapping assets or licensing deals in order for the deal to get approval from the Federal Trade Commission, reported the Financial Times "MergerMarket" blog.
The Financial Times reported that Gilat Satellite Networks (NASDAQ: GILT) is working with UBS to evaluate "several strategic and private equity buyers" in buying Gilat, which could get over $500M in a sale, according to people familiar with the matter. Bids for the company are due by the end of the week, said the sources.

OTHER PAPERS:

The New York Times reported that Chinese investment bank Citic Securities is planning to invest $1B in Bear Stearns Companies (NYSE: BSC), according to sources.
The New York Times reported that the head of the Federal Trade Commission, or FTC, has rejected numerous requests to open an investigation into Intel Corporation (NASDAQ: INTC) for anticompetitive conduct, according to inside sources.
The Guardian reported that world oil production peaked last year, and production will fall by half as soon as 2030, according to a report by Germany-based organization Energy Watch Group.