Media Digest 10/30/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, investors and banks are in a struggle over whether financial companies should be able to change the way they value assets under accounting rules.

Reuters writes that improvements in Asia markets show that investors are returning to taking risks.

Reuters writes that GM (GM) and Chrysler have agreed to all major terms for a merger.

Reuters reports that Delta (DAL) has completed its merger with Northwest, creating the world largest airline.

Reuters reports that PNC (PNC) will save billions of dollars due to a tax ruling.

Reuters reports that Mazda profits dropped 20%, mostly due to the value of the yen.

Reuters writes that NY Attorney General Cuomo has asked for data on Wall St. bonuses.

The Wall Street Journal reports that the Fed cut rates to their lowest level since 2003.

The Wall Street Journal writes that the IMF will offer as much as $100 billion to countries in need of funding based on new types of loans.

The Wall Street Journal reports that "borrowing costs for Fannie and Freddie are rising, instead of falling like the government had envisioned."

The Wall Street Journal reports that Wynn (WYNN) keeps building despite a slump in Vegas.

The Wall Street Journal reports that Wells Fargo (WFC) got $25 billion from the Treasury.

The Wall Street Journal reports that Netflix (NFLX) has set up a deal with Tivo (TIVO) to deliver movies to its DVRs.

The Wall Street Journal writes that HP (HPQ) is working on a deal to supply bundled service for netbooks.

The Wall Street Journal reports that the government may aid three million homeowners with more affordable mortgages.

The Wall Street Journal reports that US GDP is being hurt by falling exports.

The Wall Street Journal reports that grocery chains are pushing back against food company higher prices.

The Wall Street Journal reports that GM’s (GM) vehicle sales dropped 11% in Q3.

The Wall Street Journal writes that some of India’s biggest firms are preparing large job cuts.

The Wall Street Journal reports that a chip glut hurt Toshiba and NEC.

The Wall Street Journal reports that Qwest (Q) will cut 1,200 jobs.

The Wall Street Journal reports that Starbucks (SBUX) is seeing an improvement in average transactions per store.

The New York Times reports that governors are calling for federal rescue packages for states.

The New York Times reports that an activist investor wants Target (TGT) to sell some of the land under its stores.

The New York Times reports that as gas prices go down driving is going up.

The FT writes that US hospitals may have to buy back $8 billion in debt.

Bloomberg reports that Deutsche Bank (DB) posted a profit helped by new accounting rules.

Douglas A. McIntyre