Today's Headlines

Bloomberg:
- The global economy is “very healthy” and losses from the US subprime mortgage slump have “almost passed,” said Mark Mobius, who oversees $30 billion at Templeton Asset Management Ltd in Singapore.
- Gold and silver are falling for a second day on concern that a slump in global equity markets will reduce investment demand for the precious metals.
- OPEC doesn’t need to increase crude oil production because market supplies are sufficient, OPEC Secretary General Abdulla El-Badri said today.

Wall Street Journal:
- Rich Alumni Stiff Elite Alma Maters, Give to Needier Colleges.

AP:
- Pennsylvania’s welfare rolls have declined to below 1960s levels as job-training and child-care programs allowed more people to enter the workforce.

Financial Times:
- A private bank has seen an increase, since the start of the stock market upheaval, in the number of senior executives wanting to take out “jumbo loans” to buy shares or make investments.

Reuters:
- The Fed acknowledged at its last regular meeting that a policy response might be necessary if financial market conditions worsened, show minutes of its August 7 meeting.

Daily Telegraph:
- Taking cheap drugs designed to lower cholesterol could reduce the risk of developing Alzheimer’s by 80%, scientists say.