News Digest 4/2/2008 Reuters, WSJ, NYTImes, FT, Bloomberg

According to Reuters, Lehman (LEH) raised $4 billion.

Reuters writes  that US factory orders probably fell in February.

Reuters reports that the Fed approved the JPMorgan (JPM) purchase of Bear Stearns (BSC)

Reuters writes that CBS (CBS) news will cut staff.

Reuters reports that Huawei is not interested in buying Motorola’s (MOT) handset division.

The Wall Street Journal writes that the $29 billion loan to Bear Streans is made up primarily of mortgage-back securities.

The Wall Street Journal writes that major auto companies including Ford (F) and GM (GM) had a huge sales slump in March.

The Wall Street Journal writes that Intel (INTC) is making progress providing chips for mobile devices.

The Wall Street Journal reports that an airline association downgraded it forecasts for industry profitability in 2008.

The New York Times writes that a bi-partisan bid to help mortgage holder is gaining momentum.

The New York Times writes that the Shanghai market has dropped 45% since October.

The FT writes that the market rally could be partially due to short-sellers retreating from the market.

Money raised by Lehman and UBS (UBS) may signal an end to the rout in the equities market

Douglas A. McIntyre