Today's Headlines

Bloomberg:
- China’s Ministry of Public Security warned investors not to fall for scams aimed at capitalizing on enthusiasm over a rapidly rising stock market, such as false initial share offerings or fake investment funds.
- Crude oil is dropping $2.03/bbl. in NY as investment fund speculation subsided after an end to a strike in Nigeria and on expectations that supplies are adequate.
- Stephen Schork, an energy investor and president of Schork Group sees lower gas prices during the summer driving season.
- Venezuelan President Hugo Chavez threatened to shut down the country’s last opposition television station as students took to the streets for a third day protesting what they say is a crackdown on free speech.
- The Bank of Canada said for the first time in a year that it’s ready to increase interest rates because inflation is accelerating faster than it expected.
- Trading in options to buy shares of Commerce Bancorp(CBH) surged ninefold to a six-week high after the largest bank based in NJ canceled an appearance tomorrow at a Sanford C. Bernstein conference.
- President Bush imposed economic sanctions against Sudan in a bid to curb the violence in Darfur and he called on the UN to step up financial pressure on a leader who hasn’t stopped genocide in the war-torn African country.

Wall Street Journal:
- CDW Corp.(CDWC), one of the biggest US resellers of computers, software and related equipment, may be bought by a private-equity firm.
- The World Bank said direct foreign investment in emerging markets was a record $325 billion last year, yet cautioned that there are still concerns over the stability of some banks in such countries.
- Cutbacks in merchandise at Wal-Mart(WMT) are starting to trim orders to some of the company’s suppliers in China.
- Morgan Stanley(MS) Chairman John Mack is directing the investment bank’s business toward propriety trading and advisory services in a bid to boost profit.
- Florida plans to cut property taxes to promote economic growth slowed by a drop in real estate sales.
- US investors in mutual and hedge funds may benefit in coming years as more and more managers depend on third-party providers for internal monitoring and risk management.

NY Times:
- US lawmakers are pushing to subsidize coal as an alternative fuel. Democrat and Republican lawmakers are proposing to guarantee billions of dollars in construction loans for coal-to-liquid production plants, guarantee prices and future government purchases.

AP:
- Sony Corp.(SNE) will introduce its first HD radio tuners in July, as prices for radios that detect AM and FM signals that broadcast digitally fall from their $800 debut more than two years ago.

Efe:
- The Venezuelan lawmaker deported form Colombia yesterday for allegedly interfering in domestic politics, called Colombian President Alvaro Uribe the country’s “biggest terrorist.”

Xinhua News Agency:
- China tripled the stamp tax on securities trading to help promote a “healthy” stock market, citing the Ministry of Finance. The government boosted the stock trading fee from .1% to .3%.