Today's Headlines

Bloomberg:
- The Fed’s Poole said that the sub-prime mortgage problem should remain isolated and that inflation expectations seem well contained.
- Corn futures in Chicago headed for the biggest weekly drop in 10 years and soybeans fell on speculation rains and cooler weather will promote development of the two biggest US crops.
- Sugar is falling in NY on speculation that India, the second-largest producer, may offer to sell unrefined supplies of the sweetener, adding to a global surplus.
- Natural gas futures in NY fell again, dropping 4%, on signs that US supplies are poised to break record levels this year.

Wall Street Journal:
- T.Boone Pickens, chairman of Dallas-based BP Capital LLC, wants to set up retail natural-gas transportation fueling stations in China to help cut pollution.
- Google Inc.(GOOG) started offering Internet tools, including free online advertisements, to politicians as a way to help them get elected.
- John Edwards, the third-ranking Democratic candidate for president, continues to hold sway over much of the party’s debate on Iraq, health care and other issues.
- The SEC may amend the rule which allows fund companies to charge marketing fees, known as 12b-1 fees, citing SEC Chairman Christopher Cox.

NY Times:
- US congressional Democrats are delaying an overhaul of the country’s voting system after receiving pressure from state and local officials and advocates for the disabled.

USA Today:
- US cities need to spend $1.6 trillion during the next five years to replace or rebuild aging roads, water systems, dams and airport runways, citing an engineering trade group.

AP:
- A plan to commemorate the sixth anniversary of the World Trade Center attacks in a small park is opposed by victims’ families. In a letter this week, family groups called the Trade Center “sacred ground” and questioned whether the crowds of mourners would be accommodated at Zuccotti Park, southeast of the site and about three-quarters of an acre in size.
- A military device found on a NJ women’s lawn today was inoperable and didn’t pose a hazard, citing police.
- Major General Richard Lynch, commander of US forces south of Baghdad, said it will take until late this year to defeat militants and until next summer to secure gains made by US soldiers. Reversing the US troop buildup in Iraq would risk giving up the progress American soldiers have made, he said. Yesterday, Lieutenant General Ray Odierno, the day-to-day commander of US forces in Iraq, said that al-Qaeda been placed on the defensive by a monthlong US offensive.