Today's Headlines

Bloomberg:
- Crude oil may extend a two-month decline as concern about shortages eases, leaving traders who bet on $100 oil with near-worthless investments.
- Microsoft went out of its way to court Electronic Arts, the world’s largest developer of video games, to help make its $12 billion investment in the Xbox a success.
- Shares of GlaxoSmithKline Plc, Europe’s largest drugmaker, fell as much as 5% after the US FDA proposed a label change that would restrict the use of Glaxo’s best-selling Advair asthma medicine.
- Apple Computer reached long-term supply agreements with a group of flash memory components makers including Intel and Micron.
- European Central Bank President Jean-Claude Trichet said an increase in interest rates as early as next month may not be the first of many.
- US Treasury 10-year notes gained on speculation that the Fed’s interest-rate increases will keep inflation contained.
- General Motors will close 12 North American plants and other operations and purge 30,000 jobs in its deepest round of cuts since 1991.
- Crude oil and heating oil are rising today because of speculation that falling temperatures in the US Northeast and central Europe will increase fuel use.

Wall Street Journal:
- S&P will say today that it intends to include stock-options expenses in all its calculations of company earnings.
- TiVo Inc. may today announce plans to let users of its digital video recorders download any television show onto their Apple Computer iPod digital players.
- More realistic testing of driving patterns under different conditions by the US Environmental Protection Agency may reduce the stated fuel mileage on new cars by as much as 10%.
- SBC Communications, which completed its $16 billion purchase of long-distance operator AT&T on Friday, wants to be the first major company to use Internet technology to deliver all types of telecommunications services in the US.

AP:
- Camden, New Jersey, has been named the most dangerous US city for the second year running, citing an annual ranking by Morgan Quitno Press.

Reuters:
- EBay’s Skype Technologies SA, which offers Web-based phone services for 66 million users mostly in Europe and Asia, said yesterday that it will distribute telephone kits at 3,500 RadioShack stores in the US.