Today's Headlines

Bloomberg:
- Cigarette smoking and obesity not only increase the risk of age-related diseases, they also make people age faster, according to a research letter published in the Lancet medical journal.
- Boeing won an order from GE’s finance unit for 20 planes worth $1.1 billion, as the company increases its lead in new business this year over Airbus SAS.
- Mylan Labs plans to buy back $1.25 billion in stock and double its annual dividend.
- Starwood Hotels & Resorts today began using low-pollution fuel cells to help power its flagship Manhattan hotel, and wants to convert many more properties if Congress approves a tax break for the energy form.
- The dollar rose against the euro as a decline in retail sales and wholesale prices failed to damp speculation the currency will extend this year’s really.
- US 10-year Treasuries fell for a fifth day, the longest slump this year, as some investors said a drop in May producer prices and retail sales failed to dim expectations for Fed interest-rate increases.
- OPEC will consider a plan to raise output quotas by as much as 3.6% in a two-step proposal designed to send prices below $50/bbl.

Wall Street Journal:
- The investigation into Russia’s role in the UN/Iraqi oil-for-food scandal is added new stains to US-Russian relations.
- Toys “R” Us investors are asking a Delaware Court of Chancery judge to stop the $6.6 billion sale of the company to a group of private-equity firms.
- Rising US corporate profits, household incomes and home sales are significantly boosting state tax revenue across the country. States will likely take in an all-time record $550 billion in the full fiscal year.

NY Times:
- A 1998 memo from an executive at Cotecna Inspection Services, a contractor for the United Nations’ oil-for-food program that employed UN Secretary General Kofi Annan’s son Kojo Annan, stated that the company could “count on” the UN’s support.
- International Business Machines will announce today plans to sell software and consulting services to clients who use RFID to track consumer goods.

NY Post:
- Ikea purchased 48 acres of waterfront property in Brooklyn’s Red Hook section for $31.3 million from US Dredging Corp. to build what will be its largest US retail store.

Detroit News:
- General Motors has told the United Auto Workers that an agreement to cut rising health-care expenses for unionized workers is needed by the end of this month.

Jyllands Posten:
- Danes probably won’t vote on the proposed European Union constitution as previously planned, citing Foreign Minister Per Stig Moeller.

Yediot Ahronot:
- Broadcom plans to acquire Orckit Communications’ optical communications company Corrigent Systems for $500 million.

Irish Times:
- More Irish voters would vote to reject the European Union constitution than endorse it, citing a recent poll.

Iran Daily:
- China will invest $220 million to help finance a new highway linking Iran’s capital with its Caspian Sea coast.