Today's Headlines

Bloomberg:
- Emerging market stocks fell for a second day after comments from US and Japanese policy makers heightened speculation that interest rates will increase, luring investors away from riskier assets.
- CBS Corp.(CBS) said Dan Rather, a former correspondent and anchor of “CBS Evening News,” will leave the network after 44 years.
- General Motors(GM) said it plans to amend and extend an unsecured $5.6 billion credit line that would have expired in 2008 to remove uncertainty as to whether GM can use the money if needed.

Wall Street Journal:
- International Business Machines(IBM) and Georgia Institute of Technology demonstrated computer chips that can run as fast as 500 gigahertz.
- Toyota Motor(TM) is seeking to rebuild its sports-car selection as it bids to top General Motors(GM) as the world’s biggest carmaker.
- US banks and small brokerage companies are seeking to take customers from larger brokerages such as Citigroup’s(C) Smith Barney unit by offering separately managed accounts with lower fees and smaller minimum investments.
- Shares of medium-sized telecom companies such as Global Crossing(GLBC), Level 3 Communications(LVLT) and Broadwing Corp.(BWNG) have taken a beating in recent weeks and some investors regard them as bargains.
- About 2.4 million people started taking narcotic pain relievers for non-medical reasons in 2004, about 300,000 more than those who began using marijuana.

NY Times:
- More US Naval Academy midshipmen undergo laser eye surgery to correct vision imperfections, boosting pilot candidates and cutting the number of applicants for other jobs such as submarine officers.
- Wal-Mart’s(WMT) headquarters in Bentonville, Arkansas has attracted a growing number of Jewish families to the area, who relocated to work at the retail giant or one of its suppliers.
- AMR’s American Airlines, the world’s largest airline, is among US carriers redesigning Web sites to win customers from ticket sites such as Expedia(EXPE) and Orbitz.

Washington Post:
- Human Genome Sciences(HGSI) plans to announce today that the US has agreed to buy $165 million worth of an experimental anthrax treatment, the 14-year-old company’s first product sale.
- The Iraqi government aims to have “full control” over the country by the end of 2008 and needs the gradual withdrawal of US and allied forces to legitimize its rule, national security adviser Mowaffak al-Rubaie said.

AP:
- The American Heart Assoc. is urging that the amount of trans fats in diets be limited to less than 1% of total calories.

NY Post:
- Interpublic Group(IPG) may take an equity stake in the social networking Web site Facebook as the advertising company tries to learn the best way to market to young consumers.

Financial Times:
- American Stock Exchange Chairman and CEO Neal Wolkoff told a US House of Representatives subcommittee yesterday that tough US corporate compliance regulations are becoming a “Marshall Plan” for overseas stock exchanges.

Bilanz:
- Nestle SA, the maker of Ralston Purina dog food, has developed an ingredient to fight Alzheimer’s disease in dogs that could eventually be used to treat humans.