Media Digest 10/21/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Japan markets were higher on a broad government bailout plan.

Reuters reports that Merrill Lynch (MER) will cut 500 trading jobs.

Reuters writes that low retailer prices and competition are cutting Apple (AAPL) iPhone prices and AT&T (T) margins.

Reuters reports that Bernanke showed support for a second US economic stimulus package.

Reuters writes that profits at American Express (AXP) fell. but beat expectation.

Reuters reports that the GM (GM) deal to buy Chrysler is threatened by lack of financing.

The Wall Street Journal reports that some banks may use money the get from the Treasury to buy other banks instead of loaning it out as intended.

The Wall Street Journal reports that Chysler may join the Renault-Nissan alliance.

The Wall Street Journal reports that Sun (JAVA) warned of a wide-than-expected loss.

The Wall Street Journal writes that Boeing (BA) and its machinists have renewed labor talks.

The Wall Street Journal reports that OPEC will slash production.

The Wall Street Journal reports that Cisco (CSCO) and Dell (DELL) are attracting bullish investors.

The Wall Street Journal reports that Verizon (VZ) will stay with its bid to buy Alltel.

The Wall Street Journal reports that the slowdown in China is hurting world hopes that its economy would help world expansion.

The Wall Street Journal reports that bank and insurance troubles could hurt that value of synthetic CDOs,  a way to invest in diversified portfolios of companies without actually buying those companies’ bonds.

The Wall Street Journal reports that revenue at Halliburton (HAL) was up.

The Wall Street Journal reports that NetFlix (NFLX) lowered its estimate for subscriber growth.

The Wall Street Journal reports that the Oracle (ORCL) board will buy back as much as $8 billion in stock.

The New York Times reports that signs of easing credit pushed up the US markets.

The New York Times reports that after weak earnings Texas Instruments (TXN) will cut jobs.

The New York Times writes that falling oil prices are raising questions about whether Venezuela, Iran and Russia can sustain their ambitions.

The FT reports that money market rates fell as credit eased.

Bloomberg reports that Prudential UK is looking a buying a large portion of AIG’s (AIG) assets.

Douglas A. McIntyre