Reuters report that RBS (RBS) will raise $24 billion to help the bank which is likely to write-down $6 billion in assets.

Reuters writes that the net rose at Boston Scientific (BSX) due to cost cuts.

Reuters writes that Tribune plans to sell the huge newspaper Newsday to News Corp (NWS).

The Wall Street Journal writes that banks will have to raise more money to cover loan loss reserves.

The Wall Street Journal reports that Air France will drop its bid for Alitalia.

The Wall Street Journal writes that Saudi Arabia will begin pumping oil from the largest new field found since the 1970s.

The New York Times writes the the government has found tainted Herparin in 11 countries and it has caused 81 deaths in the US.

The New York Times writes that gas prices have hit $3.50 and will probably continue to rise.

The FT reports that OPEC supply concerns have pushed oil above $117.

Bloomberg writes that Warburg Pincus has raised $15 billion for its new fund.

Asian Recap- Asia Markets 4/22/2008 (CHL)(SNP)
Markets in Asia were mixed

The Nikkei fell 2% to 13,548. NIkon was off 3.8% to 2915 Nomura was down 3.9% to 1639.

The Hang Seng was off .1% to 24,704. China Mobile (CHL) was off 2.5% to 131.3.China Petroleum (SNP) was up 3% to 7.69.

The Shanghai Composite rose 1% to 3,148.

FSLR downgraded to Hold from Buy@CSTI
Collins Stewart downgraded shares on valuation as they believe the company’s strengths are priced into shares.

VRTX: Still predict that shares will rally@OPCO
After the company reported a higher than expected Q1 loss, Oppenheimer predicts that the stock will rally into and throughout 2H08, due to what they think will be multiple upcoming telaprevir-related catalysts. The firm maintained their Outperform rating.

Potash is a hot commodity, and so is Calgary’s Agrium-IBD
Agrium (AGU) is one of three Canadian companies that’s a part of Canpotex, a marketing group created by the country’s three biggest potash producers. Their target? China, which needs potash because its a mineral used for fertilizer, and which recently agreed to pay $576 a ton for a million tons, according to Investor’s Business Daily’s “The New America”. Demand is greater than supply. Agrium’s stock is trading near its all-time high. Ten days ago the company opened an office in Beijing. It also bought 70% of Common Market Fertilizers, which distributes throughout Western Europe, and is just one of nine buyouts it has made in the last decade. With its wholesale fertilizer business and retail stores, last year Agrium added a third division, Agrium Advanced Technologies. For the company, fourth quarter profit was up 396% from the year before to $1.24 a share, as sales jumped 59% to $1.43B. Profit for the entire year nearly quadrupled to $3.25 a share. Analysts now expect 2008 earnings to be up 82% to $5.90 a share.

GENZ: Stock could be down this morning, maintain Market Perform@OPCO
Oppenheimer predicts that the stock could be down significantly, following news that the FDA will require Genzyme to submit a separate BLA for Myozome produced at its 2,000L facility, delaying the launch until 1Q09 at the earliest. However, the firm thinks the pullback could create an interesting entry point for investors. :t

AAPL target raised to $170 from $160, maintain Buy@BOFA
Banc of America raised their Q2 estimate to $1.16 from $1.07 (consensus is $1.07) to reflect expected upside to PC unit following Asian channel checks and gross margins.