Today's Headlines

Bloomberg:
- Crude oil is falling below $57/bbl. in NY on reduced concern that Iranian supplies would be curtailed after the US said it will issue a visa to Iran’s President so he can speak to the UN Security Council in NYC.
- The world’s shipping lines charged less to move containers in the fourth quarter as new vessels entered service, Containerisation International monthly magazine said.
- BJ Willingham, who oversees $115 million in oil and gas investments at a Houston hedge fund, said the drop in commodity prices that wiped out Amaranth Advisors LLC last year was a boon for managers who stick to stocks. Investors who were burned by the 2006 rout of natural gas prices are fleeing into the arms of energy hedge funds that trade only equities, eschewing the risks of commodities futures.
- US farmers will plant more corn than expected two months ago to take advantage of higher prices, Informa Economics Inc. said in a report to clients.
- Wal-Mart Stores(WMT) scrapped plans to open its own bank, ending a two-year controversy that roiled financial-services companies that feared direct competition from the world’s largest retailer.

Wall Street Journal:
- EBay Inc.’s(EBAY) Skype Internet telephone service attracted its biggest number of new customers in China.
- Jonathan Abrams, who founded Friendster Inc. social-networking Web site, will today introduce Socializer Inc., an Internet site designed to help viewers plan events.
- The US is expected by economic forecasters to avoid a recession and even a significant increase in unemployment, despite a perceived likelihood that recent defaults in the subprime mortgage market will spread to the wider mortgage market, citing a WSJ.com survey.

Deal.com:
- Kohlberg Kravis Roberts is favored to acquire Armstrong World Industries, a building products maker, for just under $3 billion.

CNBC:
- Merchant bank Blackstone Group LP may file for an IPO within the next two weeks. Goldman Sachs(GS) is working with Blackstone’s lawyers on a prospectus for the offering and the company is assessing potential opposition form equity partners.

Business Week:
- Google Inc.(GOOG), Coach(COH) and Gilead Sciences(GILD) are the best-performing companies, Business Week said in a cover story devoted to the 50 best performers.

Financial Times:
- Buyout firms are trying to prevent the loans they use to fund acquisitions from being sold on to hedge funds.

AFP:
- President Mahmoud Ahmadinejad said Iran won’t go back on sensitive nuclear work, after, after world powers agreed on new sanctions, citing Iran’s semi-official Fars news agency.

Valor Economico:
- Petroleo Brasileiro SA, Brazil’s state-controlled oil company, will boost its exports of ethanol 700% this year on rising demand from Venezuela, Nigeria and the US.