Here are some of the contenders for today's biggest...news...of...the...day...

• The announcement that UAL Corp. (UAUA) "will ground 70 additional planes, cut as many as 1,100 more jobs and shut its low-fare Ted unit to help counter record fuel costs...."
• Word that Wal-Mart Stores Inc (WMT) "has launched an online classified advertising site..."
• A loss from Hovnanian Enterprises Inc. (HOV)...
• Optimism on Exxon Mobil (XOM)...
• A disappointing earnings report from New Frontier Media, Inc. (NOOF)...
• A disappointing earnings report from Tibco Software Inc. (TIBX)...
• Word that Starbucks Corporation (SBUX) appears to be trying to "resurrect" Netscape Navigator...[note - you have to read this article...]
• Data from "the options and debt- derivatives markets" that shows skepticism on Lehman Brothers Holdings Inc (LEH)...
• Chatter about the high price of gas...
• Some downbeat comments on the market...

While those are all stories worth watching, I think it is obviously clear that the biggest news is this trio -

• Indonesian 'wonder fuel' just plain diesel: report - "A controversial plan backed by Indonesia's president to turn water into cheap and limitless energy has run aground, with tests showing the wonder fuel is just plain diesel..."
• Leeson 'thanks' fellow rogue trader Kerviel for profile boost - "Disgraced banker Nick Leeson, who brought down Britain's oldest bank, on Tuesday joked that the rogue trader who rocked France's Societe Generale had helped revive his profile..."
• Stupid flies live longer: study - "Scientists...discovered a 'negative correlation between an improvement in a fly's mental capacity and its longevity'...the more the fly becomes intelligent, the shorter its lifespan..."

So... Indonesia's president discovers that water isn't a "cheap and limitless" source of "wonder fuel" while Nick Leeson extols the "prominence" of his story. Meanwhile, a study suggests there might be a negative correlation between mental capacity and longevity.

If the study holds true for other species, I think I know of a couple of people that might live forever...