Today's Headlines

Bloomberg:
- Russian President Putin, meeting with President Bush today, offered broader talks with the US and Europeans about a missile-defense system that Putin said could include a new Russian radar.
- Apple’s initial iPhone sales may have beat analysts’ top projections, suggesting CEO Jobs will reach his goal of making mobile phones as profitable to the company as computers and the iPod.
- The US, Norway and Sweden are the world’s most prosperous nations while Zimbabwe, Pakistan and Egypt score lowest for material wealth and life satisfaction, Legatum Global Holdings said in a study published today.
- The 10-year T-note yield is falling another 2 basis points today on diminishing inflation fears and elevated terrorism worries. The yield has plunged 32 basis points in just a few weeks.
- Walgreen Co.(WAG), the largest US drugstore chain, agreed to buy Option Care(OPTN) for $673 million in cash to gain 100 specialty pharmacies.
- Solarworld AG, Germany’s second-largest solar-energy company, said it won more than $677 million in orders as demand for renewable power jumps.
- China, the world’s second-largest corn producer, raised its forecast for this year’s harvest to a record as farmers planted more of the grain than previously estimated.
- Jim Rogers, chairman of Beeland Interests, says he’s sold out of emerging markets, with the exception of China.
- Trump Entertainment Resorts(TRMP), the casino company founded by real estate developer Donald Trump, failed to find a buyer after a three-month search, sending its shares to the biggest drop in two years.
- Charles Schwab(SCHW), the biggest discount brokerage, will spend $3.5 billion to give shareholders a special $1-a-share dividend and pay for its biggest stock buyback after selling the company’s private-banking unit.
- Manor Care Inc.(HCR), the operator of more than 500 long-term care centers, agreed to be taken private by Carlyle Group for about $4.9 billion, 20% more than the market value in April when the company put itself up for sale.

Wall Street Journal:
- Possible terrorist supporters, drugs suppliers and those looking to violate sanctions agreements may be turning to the commodities trade as a way of moving illicit funds.
- China’s food supply may be contaminated by heavy metals after decades of industrial pollution.
- Quiksilver(ZQK) may sell its Rossignol ski-equipment unit.
- Robert McGee, the chief economist at US Trust Corp., came in first in the Wall Street Journal’s forecaster rankings for the second time in six months.

USA Today:
- The US Defense Department approved a 700% increase in the production of special vehicles to protect Army soldiers in Iraq from roadside bombs.

NY Daily News:
- NYC’s murder rate fell 15% to 221 through June 24, a decline that may give the city the lowest number of homicides in more than 40 years, citing the city police department.

AP:
- Disbarred prosecutor Mike Nifong submitted a new resignation letter today in which he agreed to immediately leave as Durham County district attorney.

Dealogic:
- Europe is leading the world in IPOs so far this year, as companies in Kazakhstan and Russia join those in Western Europe in listing on European exchanges.

Shanghai Securities News:
- China’s mutual funds jumped 77% in net asset value in the first six months of this year compared with the end of 2006.