Bloomberg:
- Higher imports of liquefied natural gas and increased US natural-gas production are likely to push prices lower, RBC Capital Markets said.
- Two Duke University lacrosse players were arrested this morning on charges of raping a woman at a team party.
- Commodity prices rose to records as concern over Iran’s nuclear program sent oil to an all-time high and speculation stoked buying of metals by investment funds.
- US Treasuries are rising after a measure of producer prices increased less than forecast and housing starts fell.
Wall Street Journal:
- Gap Inc.(GPS) is set to say today that it has signed a franchise agreement to open stores in the Middle East.
- Saks Inc.(SKS) may today announce an agreement to license the Saks Fifth Avenue name for a store in Shanghai, marking the first entry by a luxury dept. store chain into China.
- McDonald’s Corp.(MCD) said it has been screening US chickens it uses in its fast-food outlets for avian flu for the past 10 months.
- General Motors(GM) and other US companies are putting product placement ads in comic books to attract the attention of men in their 20s.
- Michael Eisner, former chief executive of Walt Disney(DIS), will join the board of Veoh Networks, a company that wants to start a system for television broadcasting on the Internet.
NY Times:
- The NY Police Dept. has put almost 90 officer-mounted horses on patrol in some high-crime areas, and will almost double that to 160 within three years.
- Some US universities are offering courses in so-called services science.
- Iraqi and UN officials are seeking to restore Babylon, which was damaged again during the liberation of Iraq, into a cultural center, possibly even a theme park.
- Dow Chemical(DOW) has tripled its research into coal-based ingredients as it seeks an alternative to the rising prices of oil and natural gas, which are used as raw materials in manufacturing.
USA Today:
- Higher energy prices have slowed consumer and business spending, shaving economic growth by as much as 1 percentage point since prices began to rise in late-2003, citing a letter by Federal Reserve Chairman Ben Bernanke to a Republican congressman.
Minneapolis Star Tribune:
- The Mall of America, the largest US retail complex, plans to add a 6,000-seat performing arts center, a museum and a dinner theater to help attract older, more sophisticated customers.
East African Standard:
- China's Cnooc Ltd. signed an agreement with the Kenyan government to search for oil along the country’s coastline.
al-Riyadh:
- Saudi Arabian Oil Co. tested a new offshore gas field in the Persian Gulf.
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