Today's Headlines

Bloomberg:
- BHP Billiton Ltd.(BHP) may spend $80 billion on expansion over the next decade, citing Marius Kloppers, who becomes the company’s CEO next month.
- Global Advisors LP, the commodities hedge fund firm co-founded by former JPMorgan Chase(JPM) energy trader Daniel Masters, is shutting two of its three funds after losses in all commodity markets this year.
- The Federal Reserve found the effects of the August credit-market rout on the broader economy to be “limited” beyond the housing industry, according to its regional business survey.
- Apple Inc.(AAPL) unveiled new versions of its best-selling iPod media player with touch screens and video games, giving CEO Jobs new gadgets to entice buyers during the holiday shopping season.
- Apple today announced that it is on track to sell its one millionth iPhone before the end of September, and to make iPhone affordable for even more customers this holiday season, it is lowering the price of the most popular iPhone model with 8GB of storage from $599 to just $399.
- Police arrested three men suspected of planning “massive” terrorist attacks on US and other targets in Germany, preventing the deaths of “many, many people,” Chief Federal Prosecutor Monika Harms said.

Wall Street Journal:
- Scholars Link Success of Firms To Lives of CEOs.
- Citigroup Inc.(C) is refitting its vast portfolio of buildings so they use energy more efficiently.

USA Today:
- State and local governments are in the middle of a building boom that has helped keep the economy afloat and offset job losses from the decline in home construction.

AP:
- Democratic fundraiser Norman Hsu failed to appear for a bail hearing today in Redwood City, California, and his lawyer said he doesn’t know where Hsu is.

Interfax:
- China’s sugar production may rise 17% to a record 14 million tons next season, citing the country’s Ministry of Agriculture Web Site.