Wall Street Rumors- June 26, 2008

Daily rumors covering the global markets. Subscribe to the update feed here.

Anheuser Girds for Fight With InBev
Anheuser-Busch Cos. (NYSE:BUD) is prepared to reject InBev NV’s (EBR:INB) unsolicited $46.35 billion acquisition offer as early as this week, setting the stage for a hostile takeover battle for America’s largest brewer, according to people familiar with the matter.

Fed Holds Rate Steady As Inflation Worries Rise
The Federal Reserve brought its aggressive campaign of interest-rate cuts to a close on Wednesday, expressing heightened concern about inflation and effectively suggesting that its next move — though hardly imminent — is likely to be a rate increase.

Fortis Aims to Raise $12.5 Billion With Capital Boost, Asset Sales
AMSTERDAM — Belgian-Dutch financial group Fortis NV (EBR:FORB) Thursday became the latest European bank to seek fresh capital to shore up its balance sheet amid continuing market trouble, saying it aims to boost its solvency position with €8 billion ($12.54 billion) worth of measures, including a €1.5 billion capital increase and asset disposals.

Sony Outlines Strategy for Growth In TV, Videogame Businesses
TOKYO — Sony Corp. (NYSE:SNE) outlined its strategy for growth Thursday geared at regaining its lead in televisions, wiping out the red ink in videogames and investing ¥1.8 trillion ($16.7 billion) in future technology.

Lennar’s Net Loss Narrows
Lennar Corp.’s (NYSE:LEN) second-quarter net loss narrowed as the company reported fewer write-downs, but home prices, orders and deliveries plunged amid a still-deteriorating housing market.

Cox Pushes Change As Exit at SEC Nears
WASHINGTON — The Securities and Exchange Commission proposed a series of rule changes, including easing restrictions on trading with overseas brokers and lowering reliance on credit ratings, that will likely frame the agency’s actions in the waning months of the Bush administration.

European Stocks, U.S. Futures Drop; Fortis, Oracle, BSkyB Fall
June 26 (Bloomberg) — European stocks and U.S. index futures fell on concern credit losses will reduce bank earnings, while slowing economic growth curbs profits for broadcasters and technology companies. Asian shares advanced.

Barclays Snubs Goldman’s Endemol Loan Sale at a Loss
June 26 (Bloomberg) — Barclays Capital (LON:BARC) stayed out of a group that sold loans used in the leveraged buyout of television producer Endemol NV, refusing to take a loss on assets that contributed to $400 billion of writedowns for the world’s banks.

UniCredit to Cut 9,000 Jobs After $61 Billion of Acquisitions
June 26 (Bloomberg) — UniCredit SpA, (IT:UCG) Italy’s biggest bank, plans to cut 9,000 jobs, or 5 percent of its workforce, after making $61 billion of acquisitions during the past three years.

Citigroup May Write Down $8.9 Billion, Goldman Says
June 26 (Bloomberg) — Citigroup Inc., (NYSE:C) the bank that’s posted the biggest losses from the collapse of the U.S. mortgage market, may take an additional $8.9 billion in net writedowns in the second quarter, Goldman Sachs Group Inc. (NYSE:GS) said.

Google Names New CFO
SAN FRANCISCO - Internet king Google (NASDAQ:GOOG) has named telecommunications veteran Patrick Pichette as its new chief financial officer.

Airline Stocks Could Triple If Oil Settles
CHARLOTTE, N.C. — A contrarian airline analyst is forecasting that legacy airline shares could double or triple once oil prices stabilize.