Today's Headlines

Bloomberg:
- Crude oil is rising above $102/bbl. on a weaker dollar, a shipment disruption in Iraq and historic investment fund speculation.
- Prince Harry, third in line to the British throne, is fighting with his regiment in Afghanistan, the UK Ministry of Defense said.
- PIMCO’s Bill Gross told CNBC the firm is buying some commercial mortgage backed securities and is still buying municipal debt.
- Thornburg Mortgage’s(TMA) CEO said the common stock dividend should be safe.

Wall Street Journal:
- London-based hedge fund Richmond Capital LLP has stumbled badly this year, losing about half its money in January alone.
- Bebo.com, MySpace Turn to Videos to Gain Ads, Users.

Forbes:
- “I don’t anticipate stagflation,” Fed Chairman Bernanke said under questioning from the Senate Banking Committee. “I don’t think we’re anywhere near the situation that prevailed in the 1970s. I do expect inflation will come down,” he said.

NY Sun:
- NYC is launching a campaign to motivate public school students by giving them free cell phones and upgrading features if they do things such as show up to class and behave.

Financial Times:
- Emirates Telecommunications, is close to forming a joint venture with a mobile operator in the Kurdish region of Iraq, citing the company’s CEO.
- A hedge fund’s demise: the Peloton pile-up.

Saba:
- Yemen plans to raise its oil production by more than 50% to 500,000 barrels a day by 2010, citing the country’s oil minister. Yemen’s oil production reached 317,000 barrels a day last year.