Financial news on February 2nd, 2008

Business and Financial news
Bullish About the Web

A January report by JPMorgan Chase said growing revenues from online advertising would in part lead to a great year for Internet stocks. Read more..

By DAN MITCHELL - The New York Times

Deal That May Create More, Not Less, Competition

Advertising and media executives said that Google has become so dominant in the online advertising market that a combined Microsoft and Yahoo might be the only way to produce a legitimate competitor. Read more..

By LOUISE STORY - The New York Times

G.M.’s Car Sales Rise in an Otherwise Tough Month

Automakers got off to a rough start in 2008, but General Motors served up a surprise on Friday with higher sales in January on strong demand for its new car models. Read more..

By NICK BUNKLEY - The New York Times

Housing Illness Spreading to Rest of Construction

A plunge in construction spending threatens to drive the American economy into recession. Read more..

By FLOYD NORRIS - The New York Times

Lone Star Executive Sentenced

A South Korean court found the private equity fund and one of its executives guilty of manipulating stock prices. The executive, Paul Yoo, was sentenced to five years. Read more..

By CHOE SANG-HUN - The New York Times

The Dollar’s Long Fade

The dollar may gain a bit against other currencies in 2008, Bloomberg Markets reports, but its long-term prospects are bleak. Read more..

By PAUL B. BROWN - The New York Times

Utility Stocks No Longer Such a Haven

If your grandmother played the market, she probably invested in utilities for safety and income, not capital gains. She would need to adjust her strategy today. Read more..

By CONRAD DE AENLLE - The New York Times

Wesley Snipes Cleared of Serious Tax Charges

The actor was convicted on three lesser charges and must pay up to $17 million of back taxes, penalties and interest. Read more..

By DAVID CAY JOHNSTON - The New York Times

See what else happened on February 2nd, 2008