Media Digest 1/12/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, Citigroup (C) is near a deal to form a venture putting its brokerage business together with the one at Morgan Stanley (MS) Citi would be paid about $2 billion.

Reuters reports that Obama is working on decisions about what to do with the rest of the TARP.

Reuters reports that US bank earnings might be "frightful"

Reuters says that GM (GM) could seek further loans beyond the money it has already been pledged.

Reuters reports that the PC market is being hit by the slowdown.

Reuters reports that Sen. Levin wants details of the Citigroup funding from Treasury.

Reuters reports that the efforts to sell Volvo and Saab are accelerating.

Reuters reports that international investors are expected to up their investments in the US.

The Wall Street Journal reports that the Citigroup board expressed support for its CEO even though the bank may lose $10 billion for the last quarter.

The Wall Street Journal reports that Toyota (TM) picked a member of the founding family to run the firm.

The Wall Street Journal reports that Honda (HMC) will cut US inventory.

The Wall Street Journal reports that dealers are not ordering more Chryslers due to their own bloated inventories.

The Wall Street Journal reports that the UK and its major banks are working on a deal so that firms can dump bad debt.

The Wall Street Journal reports that chemical company Tronox filed for Chapter 11.

The Wall Street Journal reports that there will soon be a wave of retail bankruptcies.

The Wall Street Journal reports that Dubai will increase spending in 2009.

The Wall Street Journal writes that Exxon (XOM) may buy a rival energy company.

The Wall Street Journal reports that CBS’s (CBS) online product will have more offerings.

The Wall Street Journal reports that Microsoft (MSFT) will launch a marketing program to show businesses that software can save money in lean times.

The Wall Street Journal reports that hedge funds are losing interest in IPOs.

The Wall Street Journal reports that the recession may cause protectionism.

The Wall Street Journal reports that earnings could further undermine confidence.

The Wall Street Journal reports that T Rowe Price will offer a fund based on risky investments.

The Wall Street Journal reports that investors will focus on executive compensation.

The Wall Street Journal reports that Microsoft (MSFT) is betting on PC touchscreen tech.

The New York Times reports that Citigroup is being urged to dump its chairman.

The New York Times reports that Hollywood’s bet on 3D is being hurt by expensive equipment.

The New York Times reports that "Mary L. Schapiro, President-elect Barack Obama’s choice to lead the S.E.C., has been accused of making misleading statements to quickly complete a merger of regulatory bodies."

The New York Times reports that AOL has built 70 specialty sites, many without the AOL name.

The FT reports that Obama plans to overhaul the TARP.

Bloomberg reports that Citi (C) may reports a $10 billion gain on its brokerage deal with Morgan Stanley (MC).

Bloomberg reports that China will allow more bad debt and ease loan rules.

Douglas A. McIntyre