Today's Headlines

Bloomberg:
- Time Warner agreed to pay $2.4 billion to end shareholder lawsuits that claimed its America Online unit overstated revenue.
- The US Treasury Dept. revived the 30-year bond today after a four-year hiatus and said it will sell $44 billion in other notes this quarter to fund the government, the smallest sale in more than two years.
- The euro gained to $1.23 for the first time in almost two months as European services industries grew at a faster pace and the currency rose to a technical level that spurred a further advance.
- Crude oil is falling as speculators pare long positions after a government report showed further increases in US crude supplies.

Wall Street Journal:
- The Mozilla Foundation, a not-for-profit organization that started the free Firefox Web browser, is putting most of its software products into Mozilla, a for-profit subsidiary.
- GM ended an advertising boycott of the LA Times, started because of what the world’s biggest automaker said were factual errors and misrepresentations.
- A backlash against the US Supreme Court ruling that governments can seize property to promote economic development may threaten some projects that depended on the use of eminent domain to acquire land.
- ESL Investments, Tudor Investment Corp. and SAC Capital Advisors are among about 100 hedge funds making their home in Greenwich, Connecticut.
- The FCC could change regulations on telephone companies’ Internet services as early as tomorrow.
- General Atlantic LLC, a US buyout firm, offered $240 million for 20% of the NY Merc.
- The yield advantage for holding US Treasuries over European debt widened close to a five-year high.

NY Times:
- US cable companies are seeking smaller corporate clients that big phone operators tend to neglect by positioning themselves as a better option to the regional Bell providers.
- US hedge fund managers are donating millions of dollars to NY’s philanthropic organizations.

Washington Post:
- America Coming Together, a group funded by billionaire hedge fund manager George Soros that spent tens of millions of dollars trying to unseat President Bush last year, is disbanding.

Reuters:
- China may introduce yuan forwards trading and dollar market makers under a series of changes in foreign-exchange management planned for the next two weeks.