Bloomberg:
- The People’s Bank of China will release some “technical” details of the yuan’s currency basket.
- NY Governor Patakki ordered “hundreds” of additional National Guard troops to active duty today to augment security for NYC trains and subways according to a statement from his office.
- Six-nation talks to end North Korea’s nuclear arms program have “entered a new phase” with all sides in broad agreement on solving the crisis.
- President Bush signed legislation to reduce the number of patient injuries and deaths caused by medical mistakes.
- Crude oil is rising near $61/bbl. in NY after a fire at BP’s Texas City refinery heightened concern that fuel producers will struggle to meet increasing demand.
- US Treasuries are falling, heading for their biggest monthly drop since November, after a report suggested the economy may be growing fast enough for the Fed to keep raising interest rates beyond year-end.
- The deadline for investors to get money from Wall Street’s $1.4 billion settlement over biased research is today – and almost half may have failed to file claims.
Wall Street Journal:
- The US bond market’s muted response to the revaluation of China’s yuan indicates that the influence of Asian central banks over the US economy is overrated.
- An Iraqi radio station dedicated to promoting women’s rights is leading a fight in the country for gender equality.
- Proposed new fuel-efficiency standards for light trucks sold in the US may hurt manufacturers such as Toyota Motor and benefit larger truckmakers, including Ford Motor.
NY Times:
- US Senate majority leader Bill Frist is expected to back a bill that would increase federal funding for embryonic stem-cell research.
NY Daily News:
- Hotel occupancy in NYC is up 5% so far this year, with June bookings at a record 90.4% of capacity.
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