Today's Headlines

Bloomberg:
- China boosted production of copper to a record in May, increasing concern domestic stockpiles will keep rising.
- Seven convicted sex offenders wee arrested in Texas for violating parole restrictions after MySpace.com provided police with their subscriber information.
- OPEC said world oil markets are “well-supplied” and there’s no need to put more oil on the market at this time.
- Crude oil is rising to an 11-week high in NY on concern that US refineries are failing to keep up with gasoline demand amid a rash of ongoing “outages” and after canceling plans to increase production by 500,000 barrels per day earlier in the year.
- The US dollar rose to the highest against yen in more than four years as the extra yield investors earn on Treasuries over Japanese debt widened.

Wall Street Journal:
- Liberty Media Corp. and EchoStar Communications may make a joint offer for satellite-communications company Intelsat Ltd.
- France’s President Nicolas Sarkozy met yesterday with Georgian President Mikheil Saakashvili, demonstrating a different approach to that of his predecessor Jacques Chirac. Chirac sought to counter US power and courted Russia, with which Georgia has a troubled relationship, as a way to do that.
- American Electric Power(AEP), the biggest US producer of electricity from coal, plans to capture methane gas released from cow manure to collect carbon “credits.” The extra credits would help the utility to offset its obligation to clean up its power plants if Congress sets a cap on carbon emissions.
- The US FDA will probably move to a so-called “risk-based” system of inspecting food imports.
- SolFocus Inc. and other makers of solar energy equipment are subjecting their newest panels to extreme heat and cold, wind, sand and hail to help develop models that are cheaper and more efficient.
- Chicago Merc(CME) plans to boost the value of its $10 billion offer for the Chicago Board of Trade(BOT) with a special dividend to owners of CBOT Holdings.
- The new operating systems from Microsoft Corp.(MSFT) and Apple Inc.(AAPL) include parental controls that allow adults to decide which Web sites or programs that children can access.
- The Fed’s Moskow said that “inflation may be slowing more quickly than thought” and that “inflation expectations are still generally contained.”

NY Times:
- NYSE Regulation and NASD, two Wall Street regulators, will propose guidelines today for regulating written electronic communication. They’ve taken the step amid concern that confidential information is being shared through electronic devices.
- EBay(EBAY) is expected to say that complaints from luxury goods makers about counterfeits being sold on the Internet auction site have declined 60% since the company began an initiative to combat fraud in January.

USA Today:
- Presidential candidate Senator Barack Obama received more campaign contributions during the first quarter of 2008 than rival Senator Hillary Clinton. Obama received more than double the number of contributions from areas with sizable concentrations of upper-income blacks than Clinton.