Today's Headlines

Bloomberg:
- Japan’s lower house passes a bill to extend its deployment in Iraq for two years, ensuring the country’s continued commitment to the US effort.
- NYC apartment prices rose 23% over the past year, citing a study by the Real Estate Board of NY. The average price of an apartment sold in the five boroughs was $745,000 last quarter, with units in Manhattan selling for more than $1.1 million, the study showed.
- Federal Reserve Chairman Bernanke said regulators must use insider-trading laws to prevent abuses in the expanding market for credit-default swaps and other derivatives.
- Crude oil rose above $63 a barrel in NY after Royal Dutch Shell Plc announced an additional cut in Nigerian output.
- Confidence among US homebuilders this month unexpectedly fell to the lowest in eight months.
- Ingersoll-Rand(IR) may sell or spin off the Bobcat construction-equipment unit to focus on its more stable cooling, industrial and security divisions.
- Mergers and acquisitions, fueled by corporate deals in Europe and US buyouts, reached the $2 trillion market today, 60% ahead of last year’s record pace.

Wall Street Journal:
- Cerberus Capital Management LP’s decision to buy 80.1% of DaimlerChrysler AG’s Chrysler unit for $7.4 billion was seen by investors as a vote of confidence in the US care industry.
- IAC/Interactive Corp.(IACI), parent of Ticketmaster, is buying a stake in Front Line Management, which represents artists including singers Christina Aguilera and Neil Diamond.
- Text Messages are the latest political tool of presidential candidates.

NY Times:
- Hotel companies have started nearly 30 new brands since 2005, as boutique-like residences are being opened to attract younger travelers, citing PricewaterhouseCoopers LLP.

AP:
- Iranian parliamentary members are collecting signatures with a view to establishing an Iran-US friendship committee in the Islamic Republic’s parliament, citing a lawmaker.
- Walt Disney(DIS) will unveil an interactive television channel to promote its theme parks and travel business.

Financial Times:
- General Electric(GE) may have received four bids for its plastics unit, including one from Saudi Basic Industries, the biggest public company in the Mideast.

Daily Telegraph:
- PayPal, the online payments company owned by EBay Inc.(EBAY), is being turned into a bank to strengthen its European business and to ward off a challenge from Google Inc.(GOOG), citing Brent Bellm, PayPal’s European chief.