Media Digest (2/13/2012) Reuters, WSJ, NYT, FT, Bloomberg

Greece’s parliament passes austerity measures as people riot. (Reuters)

President Obama’s new budget plan will be based in part on taxation of the rich. (Reuters)

Olympus forecasts a $412 million loss. (Reuters)

Apple (NASDAQ: AAPL) sues Samsung in California over patents. (Reuters)

China Investment Corp. says EU bonds were not a superior investment. (Reuters)

Security officials say the version of Google (NASDAQ: GOOG) Wallet that runs on some Sprint-Nextel (NYSE: S) phones may be hacked. (Reuters)

Vodafone (NASDAQ: VOD) may buy C&W Worldwide. (Reuters)

Avon (NYSE: AVP) foreign bribery case is presented to a grand jury. (WSJ)

The Confederation of British Industry says the UK is not in recession. (WSJ)

Gannett (NYSE: GCI) will offer buyouts to 665 people. (WSJ)

A WSJ survey of economists shows they expect modest growth this year. (WSJ)

Paul Volcker defends his view that banks should not be allowed to do proprietary trading. (WSJ)

A drought in Texas will raise cotton prices. (WSJ)

Profits at U.S. companies fall as cost cutting options decrease. (WSJ)

More tech firms move to selling devices that combine software, hardware and content. (NYT)

The Securities and Exchange Commission probes practices at private equity firms. (NYT)

A study from the Pew Research Center Project for Excellence in Journalism shows online news sites do a poor job of targeting ads to readers. (NYT)

China wants banks to roll over $1.7 trillion of loans to local governments. (FT)

China’s GDP falls 2.3% in the final quarter of last year. (FT)

Access to junks bonds helps the leveraged buyout market. (FT)

EU financial chiefs will discuss the new Greek bailout. (Bloomberg)

Job cuts by EU companies rise sharply. (Bloomberg)

Douglas A. McIntyre