- According to Reuters, the FDIC may have to borrow money from Treasury to see it though a wave of bank failures.

- Reuters reports that Lehman (LEH) has asked three investment firms to stay in the bidding for its money management arm.

- Reuters reports that the NY Attorney General is looking at the relationship between Goldman Sachs (GS) and Fidelity in the sale of auction-rate securities.

- Reuters reports that profits at China Mobile (CHL) rose substantially in Q2.,

- The Wall Street Journal reports that banks now face the challenge of paying back hundreds of billion of dollars that they borrowed before the credit crunch.

- The Wall Street Journal reports that the Fed is split on how to handle inflation.

- The Wall Street Journal reports that Boeing (BA) has softened its stance with unions.

- The Wall Street Journal reports that more builders of commercial property are turning to hedge funds for capital.

- The Wall Street Journal writes that shares in Fannie Mae (FNM) and Freddie Mac (FRE) rose sharply as investor concern that they might be bailed out by the government faded.

- The Wall Street Journal reports that Conoco (COP) will sell the rest of its gas stations.

- The Wall Street Journal reports that Nokia (NOK) introduced two new high-end handsets.

- The New York Times reports that distributing power from wind energy is hard because of limitation in the nation's power grid.

- The New York Times writes that cities facing money problems my privatize the infrastructure.

- The FT reports the pension funds are moving into the company debt and buy-out businesses.

- Bloomberg reports that Singapore fund Temasek increased its investment in Merrill Lynch (MER)