Today's Headlines

Bloomberg:
- The United Nations should rid itself of corruption or the US Congress may stop funding it, Senator Norm Coleman said.
- Japanese stocks climbed last night, with the Nikkei 225 closing above 13,000 for the first time in more than four years.
- OPEC plans to offer to pump as much oil as needed, seeking to prevent shortages as prices surge and a new storm threatens US rigs.
- Julian Robertson, who once ran the world’s largest hedge fund, put $25 million in a fund that targets insurance companies, now facing record losses from Katrina.
- Crude oil and gas are falling on speculation that the threat Hurricane Rita poses to Gulf of Mexico oil production and refining doesn’t justify yesterday’s surge.

Wall Street Journal:
- Europe’s Airbus and Boeing, the two leading manufacturers of airliners, are enjoying a boom in sales and orders, despite the fact that the global airline industry faces losses of as much as $8 billion this year.
- The FCC may recommend SBC Communications’ takeover of AT&T and Verizon’s merger with MCI as early as tomorrow.
- Acer Inc. has fought its way up to fourth place in worldwide PC shipments, and is now set to attack the US market.
- Sun Microsystems is introducing five server systems today with about twice as much performance of its existing machines at the same price.
- US companies and universities are adding paid-leave programs to let workers volunteer for Hurricane Katrina recovery efforts.

NY Times:
- Many US women working and studying at top colleges say they have decided to choose raising their children over their careers, citing interviews with more than a dozen faculty members and administrators.

NY Post:
- MBA graduates from Dartmouth College’s Tuck School of Business say they would rather buy stocks than invest in residential real estate.

Star-Ledger:
- US sales of generic drugs may rise to $28 billion this year, about 65% more than expected.

San Francisco Chronicle:
- Soaring prices in San Francisco for housing stems from low interest rates, strong income growth and low prices during the mid-1990s, rather than from a speculative frenzy, citing a new study.

Financial Times:
- GM doesn’t expect to make any money from hybrid petrol-electric vehicles for the time being, but is going ahead with them to help its environmental image.

International Herald Tribune:
- European regulators are considering whether to take new action against Microsoft in the wake of “informal” complaints filed by competitors.

AFP:
- China is producing oil or gas in disputed fields in the East China Sea in an area where Chinese warships have been seen, citing a Japanese government official.

Reuters:
- Google plans to offer its own high-speed wireless Internet service, citing the company’s Web site.

AP:
- Champion Enterprises and other mobile-home manufacturers are waiting for FEMA to respond to their bids to provide housing after Hurricane Katrina.