Today's Headlines

Bloomberg:
- Crude oil is falling to a five-month low on speculation that US fuel supplies will be sufficient to meet demand as global growth slows.
- Treasury Secretary Henry Paulson’s support for a strong US dollar is causing anxiety among former colleagues at Goldman Sachs(GS), who have been telling clients to sell the dollar.
- Lennar Corp.(LEN) said profit fell in the fiscal third quarter, the first decline in six years, on increased incentives.
- Hilton Hotels(HLT), the second-biggest US lodging company, may regain investment-grade ratings as an increase in travel enables the company to reduce debt, according to traders betting on the creditworthiness of companies in the credit-default swap market.
- China, responding to criticism from the US and Europe that the yuan is artificially weak, said it will be “more proactive and progressive” in letting the market set the currency’s value.

Wall Street Journal:
- Yahoo! and the US National Football League are to provide all regular-season games to viewers outside North America by making them available over the Internet.
- The US government is trying to isolate a network of banks and companies that it believes Iran controls and uses to acquire weapons technology.

NY Times:
- Former Democratic Treasury Secretary Robert Rubin is training hedge fund managers who once worked for him at Goldman Sachs(GS) in the ways of Washington politics. The Hamilton Project aims to provide policy suggestions to the Democratic Party.
- A federal judge in Oregon denied the US government’s request to dismiss an Islamic charity’s lawsuit challenging surveillance of some of its international communications without warrants.

Business Week:
- Burger King Holdings’(BKC) management and staff have skills that will help boost sales and earnings, said Linda Killian, an adviser for the IPO Fund.

NY Post:
- New York Board of Trade membership prices rose $100,000 to $850,000 earlier this week after four seats were sold Wednesday.

Xinhua:
- China’s economy has “prominent problems” and the government must step up macro-economic controls to resolve them later this year, citing Qiu Xiaohua, director of the National Bureau of Statistics.

AFP:
- European Union foreign policy chief Javier Solana said there will be no UN sanctions against Iran as long as talks over the country’s nuclear program continue.