Media Digest 10/18-2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Yahoo! (YHOO) CEO Yang resigned.

Reuters reports that Japan expects a long recession.

Reuters writes that Congress will take a first look at a new auto bailout bill.

Reuters reports that Volvo said truck orders were weak.

Reuters reports that problems in Detroit could kill electric cars.

Reuters reports that global chip makers see a drop in 2009 business.

Reuters reports that the SEC charged billionaire Mark Cuban with insider trading.

Reuters writes that insurance companies are waiting for a Fed okay to get access to government funds.

The Wall Street Journal reports that insurers are seeking federal aid by buying small banks

The WSJ writes that falling crop prices are threatening a global farming boom.

The Wall Street Journal reports that "investors holding securities backed by Countrywide mortgages are criticizing Bank of America’s move to modify loans following a settlement."

The WSJ writes that Ford (F) has done a study on job losses at the company and its suppliers if the US auto companies fail.

The WSJ says Citigroup’s (C) Pandit is cutting expenses in preparation for more bad financial times.

The WSJ reports that the EU and China signed a pact to cooperate on consumer safety.

The WSJ reports that a Mexican billionaire took a stake in Circuit City.

The Wall Street Journal reports the drug makers are working on outwitting generics to keep market share.

The WSJ writes that "Spansion filed a suit against Samsung that seeks to block U.S. imports of products, including iPods and BlackBerries."

The WSJ says that HSBC (HBC) is being strained while trying to keep homeowners in their houses.

The WSJ says Paulson will keep part of the bailout fund to allow flexibility in the future.

The Wall Street Journal reports that UBS (UBS) management will cut their bonuses.

The Wall Street Journal reports that Citigroup will still not have enough capital after cutting jobs.

The WSJ reports that Target’s (TGT) profits are still sliding.

The WSJ writes that steel markers are squeezing suppliers.

The WSJ reports that HP (HPQ) is extending holiday vacations to cut costs.

The WSJ reports that the CEO of Symantec (SYMC) will step down.

The New York Times reports that "the Detroit automakers and the United Automobile Workers face criticism as they push for a bailout."

The FT reports that the Paulson hedge fund (not the Treasury Secretary) is buying into mortgage securities.

The FT reports that Bank of America (BAC) raised its stake in the China Construction Bank.

The FT reports that US analysts are less pessimistic than their peers outside America.

Bloomberg reports that the S&P 500 failed to bounce after retesting recent new lows.

Bloomberg reports that management at Las Vegas Sands (LVS) says it has all the money it needs for a casino in Singapore.

Bloomberg reports that US wholesale prices probably had a record drop last month.

Douglas A. McIntyre