Media Digest 10/28/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, GM (GM) and Chrysler have asked the government for $10 billion to close their merger.

Reuters reports that  Boeing (BA) and its machinists have entered into a tentative labor agreement.

Reuters reports that Honda (HMC) cuts its sales forecasts due to the financial crisis.

Reuters writes that Avis cut 700 jobs and had a $1 billion loss.

Reuters reports that Mastercard (MA) and Visa (V) will settle a suit with Discover (DFS) for $2.75 billion.

Reuters reports that Wal-Mart (WMT) will cut capital spending and slow building new stores.

Reuters reports that Google (GOOG) plans to invest in the energy sector.

Reuters reports that Microsoft (MSFT) will rent its "cloud computing space.

The Wall Street Journal reports that BP’s (BP) profits rose 83% on higher oil prices.

The Wall Street Journal reports that GM may get $5 billion from the Energy Department for its Chrysler deal.

The Wall Street Journal reports that "Google, Yahoo (YHOO) and Microsoft agreed to a set of principles for how to do business in nations that restrict free speech and expression."

The Wall Street Journal reports that bargain hunters are beginning to shrink the glut of homes.

The Wall Street Journal reports that the government rescue plan is slowing due to slow hiring of asset managers.

The Wall Street Journal reports that oil earnings are likely to drop on the falling price of oil.

The Wall Street Journal reports that much of the US capital being put into regional banks will not go to customer loans.

The Wall Street Journal writes that a slowdown in China’s recovery may keep metal prices low.

The Wall Street Journal reports that more car dealers are closing.

The Wall Street Journal reports that hedge funds are trying to push out the head of Dillard’s.

The Wall Street Journal reports that CenturyTel (CTL) plans to buy Embarq (EQ) to save costs.

The FT writes that GE (GE) will test the government’s new commercial paper facility.

Bloomberg reports that Nomura posted a large loss due to problems in the Japanese market.

Douglas A. McIntyre