Today's Headlines

Bloomberg:
- Airline bonds are staging their biggest rally in nine years as demand for travel rises and carriers emerge from bankruptcy with less debt.
- Angola passed Saudi Arabia to become China’s top oil supplier in February.
- The US government raised fuel-economy standards for light trucks such as sport-utility vehicles an average 11% over four years starting in 2008 and for the first time included the biggest SUVs.
- Apple Computer(AAPL), which has sold more than 42.2 million iPod players since October 2001, released software that lets parents set the volume on the music devices to protect their children’s hearing.

Wall Street Journal:
- Citigroup(C) will start today Citibank Direct, an Internet bank offering online, high-yield savings accounts.
- The SEC said it expects to take action this year to stop late trading in mutual funds and will decide whether to make proposals stipulating the use of interactive data for corporate reports.
- Japan’s economy is getting new and more sustainable support from an increase in household spending, a shift that could have important implications for global trade.
- Southwest Air(LUV) may be one of the weaker prospects for investors hoping to profit from a rebound in the aviation business.
- GlaxoSmithKline Plc(GSK) and Colgate-Palmolive(CL) are among companies that are expected to present bids for Pfizer’s(PFE) consumer products unit in first-round auctions today.
- EBay(EBAY) plans today to contest a 19th-century Supreme Court ruling that infringement of a patent could lead to an injunction against using an invention even if the patent holder never did.
- Time Warner(TWX) is changing the way it manages publishing, to focus more on the Internet.

AP:
- A plan to expand a guest worker program for immigrants who want jobs in the US is a “bad idea,” AFL-CIO labor union President Sweeney said.
- The Bluetooth wireless telecom standard will adopt a new radio technology known as ultra-wideband, allowing it to accommodate high-definition video and files for digital music players.