Today's Headlines

Bloomberg:
- Goldman Sachs Group(GS) said law-enforcement authorities don’t consider letters making threats against the company to be credible.
- North Korea may shut its Yongbyon nuclear power plant as soon as it gets one-10^th to 50,000 tons of heavy fuel oil promised in an international agreement, rather than wait for the full amount, its official news agency said.
- Federal Reserve Bank of San Francisco President Janet Yellen said the central bank’s stance of keeping interest rates unchanged is most likely to achieve faster growth and slower inflation.
- Citadel Investment Group LLC almost doubled its stake in Myriad Genetics(MYGN) to 5.5%.
- John Lonski, chief economist at Moody’s Investors Service(MCO) sees US price inflation “well contained.”
- Share sales by wind, solar and biofuels companies attracted 8% more investment in the first six months of 2007 than a year earlier, led by energy-efficiency and service industries, New Energy Finance said.
- Investing in renewable energy could save the world $180 billion a year in fuel costs by 2030 while reducing emissions of carbon dioxide, the main gas blamed for global warming, according to a recent report by Greenpeace and the European Renewable Energy Council.- Crude oil is rising .6% to a 10-month high as speculators bid up prices before the peak in summer driving demand and hurricane season.
- Coffee futures fell for a fourth straight session in New York as warehouse supplies rose and Brazil, the world’s largest producer, received favorable weather for its crop.
- Stainless-steel output rose 15% to 7.58 million metric tons in the first quarter from a year ago, driven by increases in China, the alloy’s largest producer, the International Stainless Steel Forum said.
- Natural gas in NY is falling another 3% after a government report today showed supplies are heading towards a new all-time record by October.

Wall Street Journal:
- US officials fear global growth may be hurt by a wave of protectionism.
- The US Congress needs to respond to Iran’s growing involvement in training and organizing extremists fighting US forces in Iraq, Senator Joseph Lieberman wrote.
- The new US Regulation NMS, which requires brokers to send orders instantly to the market showing the best prices, will help larger securities firms at the expense of smaller ones.
- The White House’s Office of Management and Budget will advise President Bush to veto a bill that would allow members of OPEC to be sued under US antitrust laws, citing OMB spokesman Sean Kevelighan.
- The US and the European Union agreed to share information about the safety of cosmetics and medical equipment.
- Chicago Mercantile Exchange(CME) will increase its offer for CBOT Holdings Inc.(BOT) in an attempt to get shareholders to approve its bid for the parent of the Chicago Board of Trade.

NY Times:
- In 2005, about the time when hedge funds started sprouting like weeds, investors, money managers and the media started to question whether there might be a hedge fund bubble. With hedge funds lining up to go public, the questioning has turned up a notch.

Financial Times:
- The Bank of England’s decision to raise interest rates to 5.75% and perhaps beyond could severely hurt the UK economy.

Financial Times Deutschland:
- Hewlett-Packard(HPQ) may acquire more software companies, citing an interview with Hans Ulrich Holdenried, who heads the company’s German unit.
- Steel production in Germany rose in the first six months of the year to its highest level since the country’s reunification, citing Dieter Ameling, the president of the Steel Association.

The Business:
- Dow Jones’ board is confident that the Bancroft family, which controls the majority of voting shares, will approve an agreement for Rupert Murdoch’s News Corp.(NWS/A) to buy the company.