AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Monday, May 14, 2007:

Chrysler Group to Be Sold to Cerberus

FRANKFURT, Germany (AP) _ DaimlerChrysler AG said Monday it will sell more than 80 percent of its money-losing Chrysler Group to private equity firm Cerberus Capital Management LP for $7.4 billion, unwinding its nearly decade-old deal to merge the U.S. brand with Mercedes-Benz. The German-American automaker said in a statement that an affiliate of Cerberus will acquire 80.1 percent in the new Chrysler Holding LLC while DaimlerChrysler will keep a 19.9 percent stake. It said that obligations for pensions and healthcare costs would be retained by the Chrysler companies.

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Ford, Acura Earn Top Crash Test Scores

WASHINGTON (AP) _ The 2007 Acura MDX sport utility vehicle and the 2008 Ford Taurus and Mercury Sable passenger cars received top scores in new crash tests released Monday by the insurance industry. The Insurance Institute for Highway Safety gave its highest score of "good" in frontal, side and rear-impact testing for the vehicles, built by Honda Motor Co. and Ford Motor Co.

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Wall St. Awaits Inflation, Housing Data

NEW YORK (AP) _ Wall Street has been reveling in the interest rate standstill of the past nine months, and investors hope this week's data on consumer inflation and the housing market won't suggest things are about to change. The Dow Jones industrial average has been climbing to record highs, but on a tight rope. The stock market should keep advancing as long as the economy keeps growing and inflation doesn't accelerate, market experts say, but data indicating otherwise could cause a tumble.

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Wal-Mart to Display Skype Phone Gear

NEW YORK (AP) _ Wal-Mart Stores Inc. is adding an array of Skype phone gear to the electronics section in 1,800 stores, bringing the renegade provider of cheap calling over the Internet to a huge mainstream audience. The dedicated Skype section will feature handsets, headsets and webcams designed to work with Skype, a provider of free and very cheap long-distance calls, including to phone numbers abroad. Wal-Mart will also sell the first prepaid cards for Skype calls to be sold in this country, the companies were announcing Monday.

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AP's Primer on Borrowing for College

If they haven't already, millions of seniors graduating from high school will turn their attention over the next few weeks to paying for college. Scholarships and grants _ which don't have to be paid back _ are the best option, of course. But not everyone has the academic record for merit aid, or a great jump shot that would earn a sports scholarship. About two-thirds of four-year college students who graduate do so with some debt _ typically about $19,000.

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Oil Prices Steady in Asian Trading

SINGAPORE (AP) _ Oil prices were flat Monday amid worries over the disruption of oil supplies from Nigeria and whether U.S. gasoline inventories can meet summer driving demand. Light, sweet crude for June delivery fell 2 cents to $62.35 a barrel in mid-afternoon Asian electronic trading on the New York Mercantile Exchange.

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1st-Time Investors Buy Up Chinese Stocks

BEIJING (AP) _ After watching Chinese stock prices gallop upward for months, Ding Xiurui wanted a piece of the action. The 45-year-old office worker stood in line at a bustling brokerage Friday to open her first trading account. She brought her sister, who opened an account too. They joined millions of other novice investors who are jumping into a market that has soared to dizzying heights, with prices up nearly 50 percent this year. "We still can make money," Ding said as she stood at the counter at Tiantong Securities with the paperwork for her new account. Asked what stocks she would buy, Ding said, "I don't know. I'm still learning."

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Merck Selling Generics Unit for $6.6B

BERLIN (AP) _ German drug maker Merck KGaA has announced that it is selling its generic drug business to U.S.-based Mylan Laboratories Inc. for ?4.9 billion (US$6.6 billion). The deal frees Darmstadt-based Merck to concentrate on its core pharmaceutical and chemical activities, while allowing Mylan, a generic drug maker based in Canonsburg, Pennsylvania, to expand its product range and global reach.

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Cable Operators Expand Local Programming

PHILADELPHIA (AP) _ Gloomy weather didn't dim the smiles of the two perfectly coifed TV anchors as they bantered into their microphone headsets. "The skies may be gray, but spirits are sunny and bright. Good morning. I'm Janelle Wolfe and thanks for tuning in," one said with practiced, professional poise. "It's going to be a long parade. I hope you have a bowl of popcorn or some beverages handy, because folks, we're going to be here a while."

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Wedding Insurance Covers Calamities

DENVER (AP) _ If anyone knows the value of a good insurance policy, it's Romeo Lavarias. As the director of emergency management operations for Miramar, Fla., Lavarias has seen his share of disasters. So it was a no-brainer when his fiancee, Stephanie Goldstein, suggested buying insurance for their wedding, set for July during the upcoming hurricane season. "My job is to prepare our city in the event of a disaster, so naturally, this is right up my alley," said Lavarias, whose city was hit by Hurricane Wilma in 2005. "The number one reason (we bought) was hurricane season."

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Gold Prices

HONG KONG (AP) _ Gold closed higher in Hong Kong Monday at $674.35 an ounce, up $6.70 an ounce from Friday's close of $667.65.

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Japan Markets

TOKYO (AP) _ Japanese stocks rose Monday, led by blue chips and pharmaceutical shares, as investors were cheered by Friday's advance on Wall Street.

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Dollar-Yen

TOKYO (AP) _ The dollar rose slightly against the yen in Asia Monday amid a lack of fresh market-driving news.

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