Today's Headlines

Bloomberg:
- Iranian drivers won’t have the right to buy gasoline at a higher price if they want to consume more than their monthly allowance, President Mahmoud Ahmadinejad said.
- Jerry Speyer, president and CEO of Tishman Speyer Properties LP, the owner of NY’s Rockefeller Center and Frankfurt’s Messeturm, see an “uptick” in new home purchases in the US.
- Google(GOOG) agreed to buy closely held Postini Inc. for $625 million, adding e-mail security services to its programs for small businesses.
- Carl Icahn raised his bid for Lear Corp.(LEA) by 3.5% to $2.9 billion after opposition from stockholders and investor advisory firms.
- Johnson & Johnson(JNJ) will begin a $10 billion share repurchase program, its largest ever.
- Michael Berger, a former US hedge fund manager who fled NY in 2002 after his conviction in a $400 million securities fraud, was captured by Austrian federal police.
- Just when a majority of analysts say Bristol-Myers Squibb(BMY) has done about all it can for shareholders, new medicines for diabetes and cancer, together with takeover speculation, may keep the stock rising.
- Sony Corp.(SNE) cut the price of the PlayStation 3 in the US by $100, or 17%, after sales trailed Nintendo’s Wii and Microsoft’s(MSFT) Xbox 360.
- Shares of First Solar(FSLR) soared as much as 19% after the maker of solar power modules announced five contracts that may be worth $1.28 billion.
- Global fuel markets may see slower gains in prices by next year, as refinery capacity, energy efficiency and use of biofuels grows, increasing the supply of fuel, the IEA said.
- Corn is falling another 2.1% on speculation that cool, wet weather will bolster the US crop.
- Crude oil is falling .52/bbl. as some analysts and traders speculated recent gains were unjustified as inventories of the fuel in the US are near decade highs.

Wall Street Journal:
- Apollo Management LP, a US buyout firm, increased its offer for Utah-based chemical maker Huntsman Corp.(HUN) by 75 cents a share to $28.
- Hundreds of US hedge-fund advisers have ended their registrations with the SEC a year after a US appeals court invalidated a registration requirement.
- US educators say the restraint and seclusion of students with behavioral problems has come under scrutiny as schools are pressured to include such students in normal classes. An administrative-law judge ruled in March that a local school district violated federal law by educating an autistic student prone to aggressive behavior in excessively restrictive settings.
- Maintaining the detention facility at Guantanamo Bay, Cuba, is justifiable and necessary, and there are no feasible alternatives, David Rivkin and Lee Casey wrote. Closing the center also would allow al-Qaeda to further its cause by taking advantage of Western sensibilities, public opinion and legal rules, the two former Justice Dept. officials said.

NY Times:
- NY will have more than 100 cameras monitoring cars in Lower Manhattan by the end of the year as part of an anti-terrorism surveillance program modeled on one in London.
- US voters believe the presidential campaign has ramped up too quickly, as candidates vie for their attention and money, citing dozens of interviews.
- The Wall Street Journal may reduce news staff within a few months if Rupert Murdoch’s $5 billion bid to buy Dow Jones(DJ) fails, citing senior editors and a member of management.

NY Post:
- Streets throughout NY will soon be paved using recycled materials as part of environmental plans announced by the city’s transportation commissioner.

Chronicle of Higher Education:
- The US may face a shortage of 24,000 doctors and almost a million nurses by 2020, as medical schools aren’t turning out enough graduates to balance expected retirements, citing a report by PricewaterhouseCoopers’ Health Research Institute.

Independent:
- Virgin Atlantic Airways will buy eight more Boeing(BA) 787 Dreamliner jets, bringing the total to 23.

Securities Times:
- China should let the yuan trade in a more unpredictable and volatile fashion to fight speculators’ bets that the currency will keep rising, citing a report by government economists.

Xinhua News:
- China’s Internet users may increase spending 32% in 2007 to $48 billion, citing a report by the China Internet Network Information Center.