Media Digest 8/24/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

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Reuters:   A faltering stock market may make it hard for China to cut financial support to the capital markets.

Reuters:   Roubini warned of a double dip recession.

Reuters:   Warner Chilcott will buy the P&G (PG) drug business.

Reuters:   The head of Germany said GM must make an immediate decision on Opel.

Reuters:   A senator has asked the SEC to make a broad review of the stock market structure.

Reuters:   Central banks are stressing that they will not rush moving out of supporting financial and credit markets.

WSJ:   Early bulls on the US market are turning skeptical.

WSJ:   The oil industry detailed the costs of the climate bill.

WSJ:   Goldman Sachs (GS) gives trading tips to key clients.

WSJ:   Policy makers are trying to learn from the 1937 recession.

WSJ:   The race is on to file for the “cash for clunkers” deals.

WSJ:   The Harvard endowment will run more money internally.

WSJ:   Chinalco is open to talks with Rio Tinto (RTP) on cooperation in bauxite production.

WSJ:   The profits at Sinopec (SNP) quadrupled.

WSJ:   Yahoo! (YHOO) China is being hurt by decisions made by partner Alibaba.

WSJ:   AT&T (T) says it played no role in Apple (AAPL) rejecting a Google (GOOG) voice app.

WSJ:   Large companies are fighting the law firm practice of billing them by the hour.

WSJ:   China is making huge investments in Latin America.

WSJ:   Shares in Citigroup (C) are up 70% in a month and could go higher.

WSJ:   More energy companies are passing up insurance coverage.

NYT:   Asia’s rapid recovery highlights the new economic power of China.

NYT:   Warner has become the top producer of TV shows.

NYT:   The FTC is looking at the future of the news business.

FT:   The US government is sitting on an $11 billion profit from its investment in Citigroup (C).

FT:   An appetite for municipal bonds is returning.

FT:   Nokia (NOK) will press its smartphone push against Apple (AAPL).

FT:   Coal prices are up on Chinese demand.

Bloomberg:   GM is close to a sale of Hummer to a Chinese machinery company.

Douglas A. McIntyre

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