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As of 11:54:00 PM EDT Fri, August 29, 2008
THE ECB IS considering tightening lending standards amid concerns it has become a dumping ground for troubled securities, a move that could squeeze some struggling banks.  9:43 p.m.
A South Ossetian official said Russia intends eventually to absorb the separatist region. Separately, Georgia plans to recall its diplomatic staff from Moscow on Saturday.  9:43 p.m.
Microsoft is paying $486 million for Greenfield Online in a deal aimed at attracting more people to its online services.  11:54 p.m.
Alitalia filed for bankruptcy protection as part of a last-ditch push by the Italian government to save the perennially money-losing carrier from collapse.
The Department of Labor is asking a whistleblower in the auction-rate securities meltdown to show that a UBS subsidiary, the company he complained about, is covered under the federal whistleblower statute.  9:26 p.m.
Radovan Karadzic refused to enter pleas to charges, as the former Bosnian Serb leader appeared before a war-crimes tribunal in The Hague.
Allianz still faces hurdles to complete the roughly $13 billion sale of its Dresdner Bank unit to Commerzbank.  8:20 p.m.
Carrefour posted a slight rise in first-half net profit as fast growth in emerging markets was damped by weakness in France.
Australia's Allco swung to a full-year net loss of $1.49 billion on asset write-downs, and announced plans to further trim its operations as it battles to pay down debt.
PPR's first-half net profit more than doubled, lifted by capital gains and the integration of German sportswear company Puma.  8:56 p.m.
The U.S. has put "under review" bilateral talks with Russia focused on missile defense and nuclear disarmament as part of a broader re-evaluation, escalating its response to Moscow's actions in Georgia. The EU's ex-communist countries want an EU summit to show Russia it will pay a price for actions in Georgia.
 

 
The EU's ex-communist nations are pushing to show Moscow it will pay a price for its actions in Georgia.
 

 
China and Iraq reached a $3 billion oil-field development deal, the first major foreign oil contract struck with the Iraqi government since the 2003 U.S.-led invasion.
 
European arts and cultural events, Week of Aug. 29 – Sept. 5
 

 
The Expat as Two-Way Interpreter
As foreigners swarmed Beijing during the Olympics, Alan Paul found himself acting as a cultural ambassador to visiting journalists and locals and even, in a major role reversal, his Chinese bandmates.
 

 
Hybrid Race Car Planned
A racing team competing in the American Le Mans Series endurance-racing program plans to race a hybrid car later this year. The Corsa Zytek Hybrid, is the result of a partnership between Corsa Motorsports and the U.K.'s Zytek Group.
 
 

 

 
 
 
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From The Wall Street Journal and other Dow Jones Publications
 
Source:Dow Jones, Reuters* at close
NASDAQ Most Actives   more
NYSE Gainers   more
NASDAQ Gainers   more
NYSE Decliners   more
NASDAQ Decliners   more
112,156,389
92,473,910
83,919,777
133,195,682
98,723,818
53,554,514
14.33%
10.51%
10.09%
30.79%
23.67%
19.72%
-14.58%
-13.96%
-10.00%
-23.90%
-18.78%
-14.08%

WALL STREET JOURNAL ARTICLES  
[image]
• New Surgery Eases Toll of Breast Cancer

Surgeons are offering an added benefit to breast-cancer patients: removing the tumor and cosmetically repairing the breast at the same time. This "oncoplastic surgery" could minimize the number of times a patient must go under the knife.

• How Much Water Should You Drink?

Lately it has been in vogue to dismiss the advice to drink eight glasses of water a day as a "medical myth," but it's really more a dispute over whether the glass is half-empty or half-full.

• Santorini, Greece

Reporter Janet Adamy on what to do, where to eat and where to stay on this Greek island.

[image]
• With Buybacks, Look Before You Leap

Done right, buybacks are a boon. They reduce the number of shares outstanding, spreading the company's future profits over a smaller base -- thus increasing earnings per share. Unfortunately, firms don't always buy stock back when it is cheap, and mistimed buybacks can be deadly.

[image]
• The Prodigy Market in China

Thirty-two years after the end of its Cultural Revolution, China is buzzing with once-forbidden Western classical music activity and more than 40 million youngsters are currently studying the piano or violin. The size and caliber of this talent pool has led some American music schools to enhance their China ties.

• Lack of U.S. Buyers at Art Basel

Reporter's Notebook: Europeans dominate sales at the annual contemporary art fair in Switzerland.

• Albee a 'Young Troublemaker' at 80

After turning 80, three-time Pulitzer Prize winner Edward Albee still considers himself a young troublemaker. A point he proves with his latest work, "Occupant," an evocation of the late sculptor Louise Nevelson.

AUTOS |  more
[image]
• Five Great Asian Road Trips

The clogged streets and smoggy skies of Asia's cities make it hard to imagine any great drives in the region. But whether a four-day trip or an afternoon jaunt, whether you take the wheel yourself or hire a driver, your route is out there. From Thailand's wine country to the mountains and fiords of New Zealand's South Island, Weekend Journal Asia takes readers on the road. Photos


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ANALYSIS OF NEWS AND TRENDS
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•  The Conflict in Georgia: Follow day-to-day events in Georgia and Russia. Plus Thomas Dworzak's photo essays: On the Ground in Gori, Seeking Shelter and Battered Georgia 08/15/2008
PalestinianLandov/United Press International
Members of the Palestinian Popular Resistance Committees are seen... more
FEATURED PODCAST
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• Weekend Edition: A method of cooking known as Sous Vide has been the hottest thing for high-end kitchens, but it's slowly making its way into the consumer market.
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