Media Digest 11/8/2006 Reuters, Wall Street Journal, New York Times

Stocks: (GOOG)(MRK)(MSFT)(NOVL)(BZH)(TOL)(BA)(FDX)According to Reuters, Democrats gained control of the House of Representatives and were on the verge of talking a majority in the Senate.Reuters reports that Big Oil will be a target of the new Democrat-controlled House. The new majority may roll back tax incentives to the industry.Reuters also writes that the CEO of Google has denied that the company has a legal reserve for potential copyright violation actions against YouTube.Reuters also reports that Google is preparing to make a move into the radio industry by purchasing as much as $1 billion in air time.The Wall Street Journal reports that Merck has four separate tsx disputes that total $5.58 billion.The Wall Street Journal also writes that Microsoft will spend $400 million on its new Linux collaboration with Novell.The Wall Street Journal also reports that Fedex has cancelled orders for 10 Airbus 380 jet liners because of delays in its production. The orders will go to Boeing instead.The New York Times writes that new technology is helping Big Oil companies find billions of barrels of oil in the Gulf of Mexico.The New York Times also reports that home builders Toll Brothers and Beazer both reported that the US housing market in in a deepening slump.The New York Times also writes that consumer borrowing is off sharply as borrowing for new cars falls.Douglas A. McIntyre

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