Today's Headlines

Bloomberg:
- China’s finance ministry said it will raise its automobile and motorcycle taxes 20% to spur the use of small vehicles that burn less fuel, part of a wider move to tax luxury goods and control energy consumption.
- Elan Corp.(ELN) and partner Biogen Idec(BIIB) said US regulators extended the review of their recalled multiple sclerosis treatment Tysabri for as long as 90 days to study the companies’ plan for restarting sales of the product.
- David Shaw, founder of the world’s largest hedge fund firm, said investment returns probably will worsen because of all the money pouring into the industry.
- Illinois Tool Works(ITW) CEO Speer said the company is winning more orders from Asian automakers including Toyota Motor and Honda Motor that will help spur sales growth for its ball joints, suspension systems and door handles.
- Shares of Bristol-Myers Squibb(BMY) and partner Sanofi-Aventis SA surged after the drugmakers settled a patent lawsuit against Apotex Inc. to keep a generic version of the blood thinner Plavix off the market until 2011.
- FedEx Corp.(FDX) said fiscal third-quarter profit rose 35%, more than analysts expected, as strong demand enabled the company to raise prices.

Wall Street Journal:
- The SEC is pursuing several initiatives that will change the way companies and mutual funds report earnings, empowering financial markets to discipline laggards as an alternative to government regulation.
- Microsoft(MSFT) plans a management shake-up at its Windows group.
- EchoStar Communications(DISH) will spend more than $1.6 billion in the next few years to boost its satellite fleet.
- US academics have established a new method of comparing mutual funds, moving away from the tradition of comparison against a benchmark index.
- Tennis matches will try to eliminate inaccurate line calls using technology that provides computerized instant replays.
- US hospital guidelines are setting private rooms as the new standard, amid growing evidence that shared rooms cause more infections, medical errors, privacy violations and stress.
- The liberal watchdog group Public Citizens has filed a lawsuit that may threaten the $39 billion in US budget cuts approved last month under the Deficit Reduction Act.

NY Post:
- Inter-Tel(INTL), which focuses on telephone services to small and medium-sized businesses, may seek a sale as it faces a possible bid from its former chief executive officer to regain control.
- NY police are installing 505 video cameras around the city to watch over 253 tourist and high-crime spots.

AP:
- Millions of NY commuters who ride Metropolitan Transportation Authority subways daily will soon be able to tell how long until the next train arrives, starting with the L line.

Financial Times:
- A proposed French parliamentary bill that would force companies with exclusive copyright protection to supply rivals with information needed to make compatible systems could hurt many companies, not just Apple Computer(AAPL).

China Securities Journal:
- China’s consumption of the copper tubing used in air conditioners has fallen 30% over the past year, citing a survey by a leading maker of the part.