Today's Headlines

Bloomberg:
- Crude oil fell to a 17-month low in NY as warm weather in the northern US reduced fuel consumption and on signs OPEC won’t cut production as much as pledged.
- Rubber futures in Tokyo and Shanghai fell to their lowest this year amid concern about increased output from Thailand, the largest producer of the commodity, and possible reduced demand from top consumer China.
- The Fed’s Fisher said the US dollar is likely to remain the world’s top currency in central bank reserves because of US growth rates and success in containing inflation.
- The US will grant $88 million in aid to Uganda to help rehabilitate its war-ravaged northern region once a peace agreement with rebels is signed, citing the US Ambassador to Uganda.
- Investors should pare holding of European steel and capital-goods stocks on prospects for a deceleration in global economic growth, Goldman Sachs said.
- Latin American stocks are falling after a drop in oil prices heightened concern that global demand for the region’s commodities is too weak to justify record share prices.
- US Treasuries are rising the most in almost two months after a government report showed US housing starts declined and on continued buying on falling inflation.
- Shares of Sony Corp.(SNE) rose as much as 2.9% as the PlayStation 3 console sold out in its US debut.
- Altria Group’s(MO) Philip Morris USA and other cigarette makers won the right to appeal a lower court decision to permit a class-action claiming $200 billion in damages on behalf of light cigarette smokers in the US.
- Shares of Nymex Holdings(NMX), owner of the world’s largest energy market, more than doubled on their first trading day.

Wall Street Journal:
- Hearst Corp. and McGraw-Hill Cos. plan to invest in Gather Inc., a social networking site for adults.
- General Motors(GM) plans to sell a Cadillac SLS in China to meet growing demand for luxury cars.
- Target(TGT) took action against Walt Disney(DIS) to try and get lower prices for movies on DVD.
- Thomson SA’s Thomson Inc. plans to see a GE-branded cordless telephone equipped with Internet-calling technology.
- John Thain, the CEO of NYSE Group(NYX), wants to expand into countries such as India and into trading of items such as derivatives.

NY Times:
- Sales at chains such as Macy’s, JC Penney(JCP) and Nordstrom Inc.(JWN) have risen twice as fast as those at specialty retailers over the past 12 months, indicating the comeback of the department store.