Today's Headlines

Bloomberg:
- US corporate profits rose 14% in the second quarter, double the rate analysts predicted.
- The US budget deficit is estimated to be $331 billion this year as tax receipts from growth in income and corporate revenue soar, the Congressional Budget Office said.
- The US dollar gained the most in three weeks against the euro after a Treasury Department report showed international investors increased their holding of US financial assets by the most since February.
- Crude oil is falling for the first time in four sessions on speculation that increased production will help refineries meet demand for gas and other fuels.

Wall Street Journal:
- Foxhollow Technologies’ products for clearing clogged arteries is being tested by doctors who own shares and options in the company.
- US companies will increasingly be bought by companies in less advanced economies, including Israel, Singapore, Brazil, India and Mexico.
- Citigroup’s Smith Barney unit will stop producing research under that name at the end of this month, adopting instead the name Citigroup Investment Research.
- The unionized car-making factories in DaimlerChrysler AG’s Chrysler Group will have to compete on cost and efficiency with an increasing number of factories owned by rivals that are not unionized.
- US labor unions face increasing resistance from companies and the government, and now workers themselves are turning away from them.
- The failure of leading mosques in London to distance themselves from terrorism has called into question efforts by the British government to encourage political moderates in the Muslim community.

NY Times:
- Agilent Technologies, the world’s biggest maker of scientific-testing equipment, will announce today a reorganization of its business, including the sale of its semiconductor unit.

LA Timest:
- News Corp is in discussions to buy Blinkx, a closely held Internet video search company.

NY Post:
- Younger members of the family that founded Dow Jones are pressing Bancroft family elders to sell their shares in the company.

USA Today:
- People who eat spinach, strawberries and other produce containing the B vitamin folate may lower their risk of developing Alzheimer’s disease.

Financial Times:
- Carl Icahn told Time Warner Chairman and CEO Dick Parsons on Friday that he and three other hedge-fund investors, Franklin Mutual, Jana Partners and SAC Capital, have a $2.2 billion stake in the company.