Today's Headlines

Bloomberg:
- McAfee(MFE) released new software today to fight identity theft and protect wireless networks
- Toyota Motor(TM) passed Ford Motor(F) in July to become the No. 2 automaker in the US for the first time as US automakers said sales declined more than 20% after rising fuel costs curbed demand for light trucks.
- President Fidel Castro gave temporary control of Cuba to his brother Raul after undergoing surgery for intestinal bleeding, handing over power for the first time in more than 47 years.
- US Treasury Secretary Henry Paulson said the global economy is “more robust” than at any point during his 32 years on Wall Street, and that the US economy, while slowing, remains “strong.”
- Tropical Storm Chris, the third named storm of the Atlantic hurricane season, is expected to hit the northern Leeward Islands as early as tonight and head toward Puerto Rico tomorrow.
- Israel’s security cabinet approved a plan to push troops further into southern Lebanon after Prime Minister Olmert said the fight against Hezbollah will continue until the group no longer poses a threat.

Wall Street Journal:
- Carlyle Group, which manages $41.9 billion in private-equity funds, will start a hedge fund that trades stocks and bonds.
- IBM(IBM) is increasing its use of semiconductors from AMD(AMD).
- US companies gained in unexpected ways from improved security introduced since the Sept. 11, 2001 terrorist attacks, as savings from added protection offset the cost of extra investment.
- China is boosting production of auto parts, reflecting a shift by the Asian nation’s manufacturing industries to more sophisticated goods.
- Ordinary US investors are becoming the biggest market for ETFs, which were considered unusual investments only a few years ago.
- Many executives are quitting Yahoo!(YHOO) and EBay(EBAY) to join start-ups.
- ESPN is breaking with current internet strategy and charging Internet service providers for the right to offer its broadband Web site.

NY Post:
- Microsoft(MSFT) told content providers it will delay the video portion of its Zune device, designed to compete with Apple’s(AAPL) iPod.

Washington Post:
- Twelve US congressional Democrats united to ask President Bush to start withdrawing troops from Iraq by the end of the year.
- Israel’s strategy of killing innocent civilians in the hopes that people will place blame on Hamas and Hezbollah is both inhumane and counterproductive, former Democratic President Jimmy Carter wrote.

Guardian:
- Nigeria’s oil production may exceed 3 million barrels a day by the end of 2006, with output from deep-water fields offsetting losses caused by militant attacks, Oil Minister Daukoru said.