Media Digest 8/11/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperReuters reports that UPS (UPS) is trying to buy Dutch rival TNT

Reuters writes that credit unions are being hit by mortgage market problems.

Reuters reports that GATX (GMT) is offering over $3 billion to buy GE’s (GE) rail car leasing business.

Reuters reports that Paulson will not stay beyond Bush’s term

Reuters writes that, despite weak sales, retailers could come in with good earnings because of expense and inventory control.

Reuters writes that Verizon (VZ) and its union have reached a labor agreement and avoid a strike.

Reuters reports that the SEC’s short selling rule for financial is ending.

The Wall Street Journal reports that AMR, British Air, and Iberia will ask federal authorities for permission to cooperate on transatlantic flights.

The Wall Street Journal reports that Apple (AAPL) iPhone software downloads are doing well and could make the company  $360 million in the next year.

The Wall Street Journal reports that private lending to students is drying up.

The Wall Street Journal writes that UBS (UBS) faces having to do a major restructuring of the bank now that it has taken severe losses.

The Wall Street Journal says economists expect the second half to be worse than the first.

The New York Times reports that retailers are putting solar panels on some of their stores and will get tax breaks for doing so.

The New York Times reports that falling cars sells are hurting media ad revenue.

The New York Times reports that China wholesale sales moved up 10% last month.

The New York Times writes that the conflict in Georgia is helping push up oil prices.

The FT reports that China will soon pass the US as the world’s leading manufacturer.

The FT reports that OPEC’s earnings hit a record on rising oil prices.

The FT writes that the Fed is pushing banks to improve liquidity.

Bloomberg reports that China’s trade surplus unexpectly widened in July

Douglas A. McIntyre

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