Today's Headlines

Bloomberg:
- Housing Market Crisis May Already Have Passed.
- The world oil market has been affected by defaults in subprime loans and it may be until the end of the year before the demand picture is clear, OPEC’s secretary-general said.
- Treasury three-month bills fell for a fifth straight day on reduced concern the credit crunch related to subprime mortgage losses is spreading.
- Natural gas in NY is falling 2.5% on signs inventories will reach another record high as industrial demand wanes.
- The Farmer’s Almanac, a weather forecaster for almost two centuries, said it will be colder and snowier than normal in the eastern US this winter.
- European Central Bank President Jean-Claude Trichet stepped back from a plan to raise interest rates next week.

Wall Street Journal:
- Yahoo! Inc.(YHOO) plans to upgrade its Web-based e-mail service with features that will enable a user to send messages directly to a mobile phone.
- Crocs Inc.(CROX) plans to sell apparel for men and children, in addition to its trademark plastic clogs.
- Bank of America(BAC) CEO Ken Lewis gained stature in the banking industry he long coveted with the acquisition of $2 billion of preferred stock in Countrywide Financial(CFC).
- US bond insurers such as MBIA Inc.(MBI), Ambac Financial Group(ABK) and Assured Guaranty Ltd. may have been more protected from bond-default damage than investors who punished their shares this year thought.
- Attorney General Gonzales Resigns Amid Pressure Over Prosecutor Firings.

NY Times:
- US schools are struggling to recruit teachers to replace retiring instructors and others who are leaving the profession for different careers.
- Nokia Oyj(NOK) will introduce this week multiplayer gaming software that will be available on its smartphones.
- Thousands of US motorists are accepting up to $800 a month to have their cars wrapped in an advertisement.
- US Airways(LCC) and AirTran(AAI) are among a growing number of airlines that are selling advertising space onboard their planes.

International Herald Tribune:
- France is prepared to act as a mediator in Iraq to help establish a broad-based government of national unity, French Foreign Minister Bernard Kouchner said.