Today's Headlines

Bloomberg:
- The decline in the US commercial paper market slowed last week, after the Fed cut rates.
- General Electric(GE) CEO Immelt said the global economy will weather a US housing recession and a tightening of the credit markets, and will record growth in 2008 and 2009.
- Crude oil is rising for a second day in NY after supplies at the delivery point for the US benchmark grade fell and speculators raised bets on a dollar decline.
- Democratic presidential candidates, already criticized by Republicans for moving too far toward a government-run health system, are being urged by advocacy groups and lawmakers to go the rest of the way. With backing from labor unions, 83 Democrats in the US House are sponsoring a measure to create a national health plan, abolish private insurers, make all hospitals nonprofit and redeploy 500,000 insurance workers, supporters said today.

Wall Street Journal:
- The Bush administration will announce a series of administrative moves to reduce air-traffic congestion and flight cancellations, particularly in the heavily clogged Northeast.
- Two new groups of bidders have emerged as Wendy’s Intl.(WEN) prepares to move into the second round of its sale process.

The Street.com:
- AT&T(T) is offering $55 a share to purchase satellite-tv provider EchoStar Communications(DISH). EchoStar is holding out for $65 per share, according to TheStreet.com.

Reuters:
- Intel Corp.(INTC) Chairman said the microchip maker is regaining market share against AMD(AMD) and its performance is looking “pretty good.”