Newspaper wrap-up 3-15-07: Wal-Mart the banker?
Posted Mar 15th 2007 9:20AM by Eric Buscemi
Filed under: Newspapers, Magazines, Internet, Time Warner (TWX), Wal-Mart (WMT), AT and T (T), Sprint Nextel Corp (S), Verizon Communications (VZ), Qwest Communications Intl (Q)
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MAJOR PAPERS:
- The Wall Street Journal reported that Wal-Mart Stores Inc (NYSE: WMT) has renegotiated the terms of leases with a number of banks, giving the retailer the ability to offer mortgages, home-equity lines of credit and consumer loans.
- According to the Financial Times, Lehman Brothers Holdings Inc (NYSE: LEH) is attempting to reassure investors about its exposure to the upheaval in the subprime mortgage market, saying activity from the sector accounted for an average of less than 3% of revenues over the past six quarters.
- Time Warner Inc's (NYSE: TWX) AOL internet division has withdrawn its $900M offer for Swedish internet advertising group TradeDoubler after a decision not to increase the value of the bid, the Financial Times reported.
OTHER PAPERS:
- The Associated Press reported that the U.S. government is expected to soon award its largest telecommunications contract ever to at least two bidders. The bidders, looking to be awarded the 10-year contract worth up to $48B, are Qwest Communications International Inc (NYSE: Q), Sprint Nextel Corporation (NYSE: S), AT&T Inc (NYSE: T) and Verizon Communications Inc (NYSE: VZ).
- The U.K. Times reported that private equity firms are eyeing Cadbury Schweppes ADS's (NYSE: CSG) Beverages business.
- Airline leasing company AerCap Holdings (NYSE: AER) was mentioned positively in Investor's Business Daily's "The New America" column. In 1990, 18% of commercial jets worldwide were leased. In 2005 that percent was 30, and it could reach 40% to 50%, says Wachovia analyst Gary Liebowitz.
Tags: ap, associated press, AssociatedPress, financial times, FinancialTimes, ft, ibd, investor's business daily, Investor'sBusinessDaily, investors business daily, InvestorsBusinessDaily, leh, lehman, newspaper, paper, periodical, q, qwest, s, sprint, time warner, TimeWarner, tradedoubler, twx, u.k. times, U.k.Times, uk times, UkTimes, wal-mart, wall street journal, WallStreetJournal, walmart, wmt, wsj
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