Today's Headlines

Bloomberg:
- Gold fell 3.2%, the most in 13 months, after the yen strengthened against major currencies, slowing the pace of investment in the precious metal and other commodities.
- Crude oil is falling $2/bbl. as investment funds reduce speculative positions on global growth worries.
- The US dollar rose the most against the euro since July 2006 as credit-market losses pushed investors to reduce holding of assets in higher-yielding currencies.
- IBM(IBM) to buy Cognos for $2.9 billion, its largest acquisition, to compete with Oracle Corp.(ORCL) and SAP AG(SAP) in providing software that tracks corporate performance.
- Al Gore, who won a Nobel peace prize for his global warming campaign, will join venture capital firm Kleiner Perkins Caufield & Byers to find investments in green businesses.

Wall Street Journal:
- MGM(MGM) Seeks Help With Big Plan. Partnership Deals Are Forged For Push Into New Markets.

NY Times:
- Wireless networks may open up and follow lead of the Internet, which once was dominated by closed communities such as AOL, citing Shahid Khan, a partner at the IBB Consulting Group.

CNNMoney.com:
- A single hedge fund has made a gain of more than $3 billion at the expense of investment banks be betting on the subprime crisis.

Advertising Age:
- IAC/InterActiveCorp(IACI) CEO Barry Diller said he would consider buying AOL if Time Warner’s(TWX) new CEO, Jeffrey Bewkes, decides to sell.