Today's Headlines

Bloomberg:
- Colorado State is predicting 9 hurricanes for the upcoming season, 3 more than the long-term average.
- Hedge funds, private-equity and venture-capital companies almost tripled investments in North American oil and natural gas in 2006.
- The shares of Humana Inc.(HUM) and other managed-care providers rose after the US issued higher reimbursement rates for Medicare Advantage plans for the elderly than some analysts expected.
- President Bush said it’s “irresponsible” for the Democratic-controlled Congress to delay money for the Iraq war and failure to fund US troops would force extended tours and cuts in training.
- Job growth in NYC, propelled by private businesses, will help bring down the financial capital’s unemployment rate this year, according to a forecast by the Federal Reserve Bank of NY.
- Winton Capital Management LLC, a hedge fund manager with $8 billion in assets, abandoned plans to sell shares in a $200 million fund to the public on concerns about potential conflicts between investors.
- Shares of Accredited Home Lenders Holding(LEND) jumped as much as 26% after the subprime mortgage company got financing commitments totaling $1.1 billion from two lenders.
- Gasoline futures fell for a third straight day, following crude oil(-$1.30/bbl.), on signs that the UK may be able to resolve the dispute over Iran’s detention of 15 British military personnel and expectations inventories will rise.
- Wind, solar and green-fuel companies received 58% more funding globally in the first three months of 2007 than a year earlier, led by “large” venture capital and private-equity deals.
- Sony Computer Entertainment America said Tuesday it has reduced the price for the PlayStation Portable game console by around 15% from $199.99 to $169.99, effective immediately.
- Corn, the worst-performing commodity during the past month, is in a bear market that may persist as US farmers prepare to plant their biggest crop since WWII, according to Barclays Capital.
- Global Crossing Ltd(GLBC) may be attractive to private equity firms as it wins more customers for its fiber-optic network, CEO Legere said.
- Copper is rising to a five-month high on speculation demand from China is accelerating.
- Wheat prices fell in Chicago and Kansas City for the third straight session as favorable weather in the US, India and other grain-growing countries benefits crops.

Wall Street Journal:
- Auction house Sotheby’s(BID) has seen its shares rise 48%, to almost $46, so far this year, as investors bet that prosperous art-buyers will be spending lavishly.
- News Corp.(NWS/A) plans to insert short portions of programs into television ads to retain the attention of viewers who would otherwise be distracted by the commercials.

NY Times:
- Illinois Senator Barack Obama raised over $20 million in the first three months of the presidential campaign.
- US charitable foundations gave a record $40 billion in 2006, beating the previous best of $36.4 billion in 2005, citing estimates by the Foundation Center.

Financial Times:
- Kohlberg Kravis Roberts’ offer for First Data Corp.(FDC) may show that the leveraged-buyout boom is entering a new phase where firms buy companies with support from investment bankers rather than private-equity firms.

AFP:
- Nigeria plans to sell rights to 45 oil exploration blocs on May 3, citing Energy Minister Edmund Daukoru. Production-sharing agreements will be signed two weeks later.

RIA Novosti:
- OAO Gazprom, Russia’s natural-gas monopoly, plans to become the world’s largest energy company through diversification, citing Deputy CEO Medvedev. Gazprom will only be able to achieve the goal by expanding into oil, refining and electricity, he said.

International Oil Daily:
- BP Plc(BP) restarted its 50,000 barrels a day Mad Dog oil field in the Gulf of Mexico last weekend. The oil field had been shut since Feb. 28 because of an “equipment failure.”

Valor Economico:
- Brazilian engineering company Sucral and venture-capital fund Greentech will lead $221 million of investments in two new ethanol mills to meet rising demand for crop-based fuels.