Today's Headlines

Bloomberg:
- Federal Reserve officials said economic growth in 2008 will be less than forecast.
- The cost of borrowing in dollars, euros and pounds fell, extending more than two weeks of declines, as central bank measures to relieve a year-end logjam in money markets continued to show signs of success.
- US gasoline demand fell last week, according to Mastercard Inc. Consumers purchased an average 9.5 million barrels of gasoline a day in the week ended December 28, down 5.5% from the same week last year.
- Crude oil reached a record $100 a barrel and gold rose to a record on commodity/hedge fund inflows and a weaker dollar.
- Ken Miller, vice president for crude oil and refining analysis at Purvin & Gertz in Houston, says “there’s no justification for any of these prices levels. There’s no shortage of crude anywere.”

Wall Street Journal:
- President Bush to Push Congress for Housing Remedy.
- Democratic presidential candidate John Edwards said he would cap executive pay.
- United Technologies(UTX) may say today that it’s teaming with US Renewables Group to introduce a technology that uses molten sale to store solar heat for conversion to electrical power even when the sun isn’t shining.
- Financial, Housing Stocks and High-Yield Bonds Draw Interest From Bargain Hunters.

NY Times:
- John Edwards says that if elected president he would withdraw the American troops who are training the Iraqi army and police as part of a broader plan to remove virtually all American forces within 10 months.

CNNMoney.com:
- $100 oil and the ‘S’ word. Is it growing demand and tight supply, or merely rampant speculation that has pushed crude to record highs?

Handelsblatt:
- Agco Corp.(AG), a US maker of tractors and combine harvesters, expects sales to increase to $8 billion by 2011, $1 billion more than previously estimated, citing CEO Martin Richengagen.

Seoul Economic Daily:
- EBay(EBAY) is in talks to buy South Korean online auctioneer Gmarket Inc.(GMKT) for more than $427 million to expand its operations in the country.