Today's Headlines

Bloomberg:
- Blackstone Group LP, the manager of the world’s second-largest buyout fund, boosted the amount it plans to raise in its IPO to $4.75 billion. The company plans to sell as many as 153.3 million shares for $29-$31 each.
- Brazil will turn 53% of its cane into ethanol this year.
- Barrick Gold Corp.(ABX), the world’s largest gold producer, said it will spend $10 billion expanding its existing operations and developing new mines to take advantage of a “buoyant gold market.”
- The avian flu virus that threatens to spark the first pandemic in almost four decades may be nearing the end of its natural cycle after it killed fewer wild and migratory birds this year, an international veterinary body said.
- Crude oil is rising $.94/bbl. on rising speculation by investment funds and more economic optimism.
- Boeing Co.(BA) plans to begin final assembly of its 787 Dreamliner today, opening a new production line north of Seattle that is scheduled to roll out the first plane in 49 days.
- President Bush said Attorney General Alberto Gonzales continues to have his full support and called an attempt by Senate Democrats to hold a no-confidence vote on him “pure political theatre.”
- Former President Jimmy Carter said remarks he made about President Bush’s foreign policy were “careless or misinterpreted.”
- Rupert Murdoch’s News Corp.(NWS/A) may be preparing to walk away from a $5 billion bid for Dow Jones(DJ) after trying without success to win support from the controlling Bancroft family, Pali Research analysts said.

Wall Street Journal:
- Alcatel-Lucent is introducing a device designed to allow organizations to maintain tighter security on employees’ laptops.
- Merrill Lynch(MER) is taking a minority interest in GSO Capital Partners LP, an $8-billion hedge fund and investment firm, known for helping private equity-firms to finance transactions.
- Wal-Mart Stores(WMT) pulled its designer apparel line from more than 3,000 outlets after the world’s largest retailer ran into difficulties making its mark in fashion clothing.
- Google Inc.(GOOG) and Salesforce.com(CRM) are discussing an alliance that might help them compete against Microsoft(MSFT).
- India’s push to industrialize has set off a rural backlash from villagers whose land is being taken to build factories.
- Nasdaq Stock Market(NDAQ) is starting an introduction service to connect companies with potential directors as the NY-based stock market seeks to win trade from the larger NYSE.
- The US Financial Services Roundtable, American Bankers Assoc. and other groups representing the financial industry are planning to assist subprime borrowers.

Financial News:
- Cerberus Capital Management LP, the private equity firm that bought US automaker Chrysler last week, raised $7.5 billion to invest in companies in financial difficulties.

Women’s Wear Daily:
- Kohlberg Kravis Roberts may take footwear brand Skechers USA(SKX) and retailer Genesco(GCO) private in separate transactions.

USA Today:
- The wealth gap between Americans age 55 to 59 and those 35 to 39 is about $200,000, suggesting generational rather than class disparities account for the divide. The older group has seen its median net worth grow 97% over 15 years to about $250,000 in 2004, while the younger generation’s wealth has fallen 28% to about $50,000, Federal Reserve and Census data show. Younger households are postponing careers to gain more education, marry later and have children later.

Daily Telegraph:
- Fidelity Investments, the world’s biggest mutual-fund company, plans to enter the private-equity business.

Valor Economico:
- Dow Chemical(DOW) is seeking financing to build refineries in Brazil that will process sugarcane-based ethanol into chemicals.

Al-Hayat:- Yemen’s oil reserves rose to 10.4 billion barrels this year, up from 4.7 billion barrels in 2000, citing the head of the country’s Oil Discovery and Production Agency.