Today's Headlines

Bloomberg:
- The euro dropped the most in more than a week against the US dollar and tumbled versus the yen after an industry survey showed German business confidence fell to the lowest in 19 months in April.
- Boeing won an order valued at as much as $6.1 billion from ACE Aviation Holdings’ Air Canada unit for 32 jets that will cut the airline’s fuel costs.

Wall Street Journal:
- General Electric is in talks to sell its self-storage unit to Prudential Financial and Extra Space Storage Inc. for about $2.5 billion.
- The backlog of US IPOs waiting to be priced is smaller than a year ago, showing that the IPO environment may be worsening, citing deal tracker Dealogic.
- JP Morgan Chase plans to tighten lending guidelines to curb loans and underwriting for industrial projects that may damage the environment.
- Some US mutual funds that concentrate on undervalued stocks have held back from the market lately, perceiving prices to be too high.
- Starz Entertainment Group’s operating income, which has dropped in half during the past two years, may fall another 50% this year as the cost of buying movies rises.

NY Times:
- Arianna Huffington, columnist and former candidate for governor in California, plans to introduce a new blog to discuss politics and entertainment on May 9 to compete with the Drudge Report.
- American Indians have started investing in Hollywood.
- The price of oil will likely take center stage at a scheduled meeting today between President Bush and Saudi Crown Prince Abdullah at Bush’s ranch in Texas.
- Former US President Clinton campaigned yesterday by satellite for UK Prime Minister Tony Blair, President Bush’s key ally in the liberation of Iraq, ahead of the May 5 parliamentary elections.

LA Times:
- Oil companies are reworking wells and considering reviving platforms off California’s coast as record oil prices push companies to develop new sources.

Chicago Sun-Times:
- Chicago Board Options Exchange Chairman Brodsky said the CBOE isn’t planning to buy the ISE because the move wouldn’t diversify its products.

Metal Bulletin:
- Jinlong Copper increased annual production capacity at its Tongling City, Anhui province smelter by 40% to 210,000 metric tons after metal prices rose.

ElConfidencial:
- Kohlberg Kravis Roberts offered $16.3 billion for Grupo Auna, owner of Spain’s third-largest wireless company and the nation’s largest cable-tv company.

Financial Times Deutschland:
- Pfizer’s Liptor cholesterol-reducer lost more than two-thirds of its German sales in the first three months of the year after a government policy change that requires patients to pay some prescription costs.