Today's Headlines

Bloomberg:
- International Paper(IP) agreed to sell its coated and supercalendered papers unit to Apollo Management LP for about $1.4 billion, part of a strategy to trim debt and boost profit.
- American Medical Systems Holdings(AMMD) will acquire Laserscope(LSCP) for $715 million to expand prostate treatments.
- The US Supreme Court will consider whether public school districts can use race as a factor in assigning students to schools, agreeing to hear cases from Louisville, KY, and Seattle that may affect millions of children nationwide.
- Brookfield Properties(BPO) and Blackstone Group agreed to buy Trizec Properties(TRZ) in a transaction valued at $8.9 billion.
- Canada will more closely monitor its residents to make sure they don’t adopt the ideology of foreign terrorists after police arrested 17 people “inspired” by al-Qaeda in a foiled bomb plot this weekend.
- Alan Garcia, after claiming victory as Peru’s next president, vowed to increase trade ties with the US and challenge Venezuelan President Chavez’s efforts to expand his influence in Latin America.
- Fed Chairman Bernanke said recent increases in measures of inflation “are unwelcome” and he will ensure the trend isn’t sustained.

Wall Street Journal:
- Saudi Arabia’s crude-oil output fell to 9.1 million barrels a day in April because of weaker demand, and not because the Middle Eastern nation wants to limit supply, citing oil minister Ali al-Naimi.
- The US’s FAA is close to finalizing rules that will effectively conclude that jetliners with two engines are as safe as those with three or four and should have the same flexibility in flying long-distance routes.
- US hotel companies will probably report record profits this year as travelers dig deep into their pockets.
- PepsiCo(PEP) has installed energy-saving equipment at its Frito-Lay plan in Perry, Georgia, to suck water out of potatoes before they go into the fryer.
- Major US airlines including AMR Corp.’s(AMR) and UAL’s United Airlines are recovering from losses sooner than some analysts expected even with higher fuel costs.

NY Times:
- A growing number of Americans families are hiring private teachers to educate their children at home.
- Former Iraqi dictator Saddam Hussein may have killed as many as 180,000 Shiites during a 1991 rebellion and buried many of them in the country’s deserts. Iraq’s Human Rights Ministry has registered 200 mass graves in the past three years, including one 50 miles south of Baghdad that may contain as many as 15,000 corpses.

USA Today:
- US firefighters plan to use satellites and digital technology to control wildfires more effectively.

Washington Post:
- The death tax should be permanently eliminated because it discourages people form leaving assets to their relatives and burdens families as they deal with the death of a loved one, US Senator Jeff Sessions wrote.