Today's Headlines

Bloomberg:
- US stocks rose for the first time in three days on speculation consumers will weather an economic slowdown and spur profit growth.
- LoJack Corp.(LOJN), a maker of electronic devices to track stolen cars, will introduce its services in China because of rising vehicle thefts in the world’s second-largest auto market.
- Y2K Finance Inc., the flagship hedge fund of Wharton Asset Management, will halt redemptions until at least December because of credit market turmoil.
- Thornburg Mortgage(TMA) has a low risk of bankruptcy and the jumbo home-loan specialist is likely to survive the liquidity squeeze in the mortgage markets, UBS said.
- Aluminum production in the US increased 19% in August because of higher demand and the restart of Ormet’s smelter in Ohio.
- OPEC agreed to increase oil production for the first time in more than a year, concerned that near-record prices would damage a world economy already suffering from weakness in the US housing industry.
- ArcelorMittal(MT), the world’s largest steelmaker, plans to increase shipments more than 20% by 2012 to meet surging demand as economies in Asia expand.
- Demand for gasoline in the US fell .8% last week after the summer driving season ended, according to a report today from MasterCard Inc.(MA) based on credit card charges at filling stations.
- McDonald’s Corp.(MCD) said August sales advanced 8.1% as customers bought chicken snack wraps and iced coffee in the US and McFlurry desserts in Europe.
- Comverse Technology(CMVT) rose the most in more than four years in over-the-counter trading after bookings unexpectedly rose.
- ImClone Systems(IMCL), the maker of the cancer treatment Erbitux, surged the most in 3 ½ years on the Nasdaq after a study showed its product helped patients with advanced lung tumors live longer.

Wall Street Journal:
- In Shift, Auto Workers Flee to Health-Care Jobs.
- General Motors(GM) Vice Chairman Bob Lutz said the US automaker is “100% confident” that its electrical-car batteries won’t have the overheating problems that competitor Toyota Motor(TM) has experienced.

NY Times:
- American Electric Power(AEP), anticipating possible renewable-energy quotas, will today announce the installation of battery banks to store power from wind turbines.

EIA:
- Global oil demand growth was revised lower by 100,000 barrels per day for the third quarter.

NY Post:
- Countrywide Financial(CFC) is trying to find additional investors to increase its capital after a rise in problem mortgages and difficulties obtaining credit.
- The NYC City Council yesterday voted 46-2 to override Mayor Bloomberg’s veto of a bill to allow cell phones in public schools.

Chronicle of Higher Education:
- The US Dept. of Education said the default rat on federally guaranteed student loans dropped to 4.6% in fiscal 2005.