Today's Headlines

Bloomberg:
- OPEC cut its estimate of demand growth for crude oil this year. OPEC lowered its estimate of first-quarter demand this year by 130,000 barrels a day to 87.19 million barrels a day. The overall 2008 estimate was cut 80,000 barrels a day to 86.99 million barrels.
- President Bush urged Congress to pass electronic surveillance legislation when lawmakers return from the President’s Day recess, saying the nation is at risk when the current law expires tomorrow.
- A rescue plan for troubled bond insurers MBIA Inc.(MBI) and Ambac Financial(ABK) may be in place before they lose their top AAA ratings, NY Insurance Dept. Superintendent Eric Dinallo said.
- Venezuelan President Hugo Chavez has seized on a legal battle between the state oil company and Exxon Mobil(XOM) to drum up backing for his campaign against the US and President Bush.
- Freee vibrating toys, a packed lecture by sex therapist Dr. Ruth, skin-tight latex bodysuits and a party at a bar name the Toad. Welcome to Sex Week at Yale University.
- The US should extend tax credits for renewable energy suppliers that are set to expire at the end of 2008, the head of the International Energy Agency said.
- BP Plc(BP), Europe’s second-largest oil company, and its partners will invest $1.4 billion in US wind farm projects to generate more power. BP and partners are building five wind parks in four US states – California, Kansas, Indiana and Texas. “Wind power is growing at a phenomenal rate,” Robert Lukefahr, the president at BP Alternative Energy North American said.
- Copper rose 1.1% after inventories monitored by the LME fell 9.7% this week, the most since October 2005.
- Cognex Corp.(CGNX), the maker of industrial cameras used to detect manufacturing defects, rose the most since it began trading in 1989 after fourth-quarter earnings topped analysts’ estimates.
- Best Buy(BBY) Cuts Forecast, Citing Fourth-Quarter Sales.

Wall Street Journal:
- Citigroup Inc.(C) has barred investors in one of its hedge funds from withdrawing their money.
- US Networks, including CBS Corp.(CBS) and Sony Corp.(SNE), want to scale back television pilot shows and make the television season last all year.
- New Nike(NKE) Sneaker Targets Jocks, Greens, Wall Street.
- Qualcomm Inc.(QCOM) and Nokia(NOK) are close to an agreement on procedural issues relating to a court case between them, the two companies said.

NY Times:
- UN to Help Organize Iraqi Elections Set for October.

TheStreet.com:
- Sprint(S), Clearwire(CLWR) Near New WiMax Deal.

Walmartfacts.com:
- Wal-Mart(WMT) Moving Exclusively Toward Blu-ray Format Movies and Players.

AFP:
- Hamas staged a rally in the Gaza Strip attended by hundreds of people protesting the reprinting in Danish newspapers of cartoons depicting the Prophet Muhammad.

Handelsblatt:
- Publicis Groupe SA wants to jointly develop video-marketing tools with Google(GOOG), citing CEO Levy.