Today's Headlines

Bloomberg:
- Man Group Plc, the largest publicly traded hedge-fund manager, fell the most in London trading since it went public in 1994 after saying that assets under management declined almost 13 percent since September.

- Farallon Capital Management LLC's biggest hedge fund fell 23.8 percent this year through October, according to two people familiar with the matter, all but ensuring its first annual loss since opening 22 years ago. The firm, which oversees $30 billion, has been selling stocks to meet expected clients withdrawals and invest in distressed debt, said the people, who asked not to be identified because the information is private. The flagship Farallon Capital Partners LP fund increased its cash holdings by 30 percentage points.

- Citigroup’s chief US equity strategist favors financial, retail stocks and would avoid commodities. (video)

- Crude oil fell to a 19-month low on signs that fuel demand will contract as the global economy slows.

- The euro fell against the dollar, yen and pound after European Central Bank President Jean-Claude Trichet said the economy ``weakened significantly'' and the International Monetary Fund cut growth forecasts for the region.

- European Central Bank President Jean- Claude Trichet said he can't rule out a further reduction in interest rates after today's half-point cut because the global financial crisis may lead to an extended economic slump.

Wall Street Journal:

- The weak economy, congressional races that empowered moderates and President-elect Barack Obama's choice of business-friendly advisers suggest Democrats will go slow on controversial labor and regulatory issues. A bill that would make it easier for unions to organize workers, efforts to regulate greenhouse-gas emissions, and a slew of contemplated taxes will likely take a back seat to broader economic issues for now, Democratic operatives say.

- For more than a decade, Mr. Obama has cultivated ties with a growing circle of black power brokers who are poised -- and eager -- to wield greater national influence. Some of these insiders stand to gain new status in an Obama administration, and many more in law firms, big corporations and on Wall Street.

- Swing Voters Don’t Want Big Government. Survey results Barack Obama and the GOP would be wise to heed. Barack Obama and congressional Democrats won big on Tuesday night, but they should not mistake their victory for a big-government mandate. The evidence tells a very different story.

CNBC.com:

- Hedge fund results seen going from bad to worse.

NY Times:
- I.B.M.’s(IBM) chief executive, Samuel J. Palmisano, is proposing a technology-fueled economic recovery plan that calls for public and private investment in more efficient systems for utility grids, traffic management, food distribution, water conservation and health care.

- Small-Business Owners Lobby to Cut Credit Card Fees.

FINalternatives:

- Hedge Funds Hone In On Islamic Investors. Faced with increasingly wary Western investors, hedge funds are setting their sights on untapped capital pools in the Middle East. Wealthy families from the region—as well as sovereign wealth funds flush with petrodollars—are looking for sources of investment returns outside the region, and are growing more receptive to alternative investments like hedge funds.

Medpage Today:
- Eggs and high-fat dairy products are on the menu for eventual heart failure and whole-grain cereals may help ward it off, found a large observational cohort study. Whole-grain foods included oatmeal or grits, whole-grain cold cereal, and whole-grain or dark bread.

Reuters:
- The first touch-screen BlackBerry smartphone will go on sale in Britain on Nov. 14, and thousands of customers have already pre-ordered the device, exclusive UK sales partner Vodafone (VOD) said on Thursday.

Globe and Mail:
- Canadian Prime Minister Stephen Harper is proposing a climate-change pact with US President-elect Barack Obama that would protect Alberta’s oil sands projects from potential new US rules. A deal between the two nations would adopt common emissions standards while promoting the oil sands. Obama has condemned US reliance on so-called “dirty oil,” while his advisers have specifically mentioned the oil sands.

Toronto Star:

- Toronto Home Sale Slump 35% in October.