Business news for Mon, 31 Dec 2007 & with word closing. 3 news.

NEW YORK (MarketWatch) -- The New York Stock Exchange and the Nasdaq are observing regular trading hours Monday, but both will close Tuesday in observance of New Year's Day. However, the bond markets are closing at 2 p.m. Monday ahead of the holiday.

It's a grim New Year for newspapers. As yet another rough quarter draws to a close, we witness the closing of a venerable Midwestern journal, The Cincinnati Post, as well as an alarming new trend: the outsourcing of advertising responsibilities to India.

Tracinda will take a 35% stake in Delta Petroleum, under an agreement for the firm to make a $684 million investment in the energy company and acquire shares at a price representing a 23% premium from Friday's closing price.