Media Digest 8/14/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   The Chinese are learning the problem of easy access to credit cards.

Reuters:   The US recovery is still slow while France and Germany are rebounding.

Reuters:   UBS (UBS) clients in America may face criminal charges.

Reuters:   Buffett of Berkshire Hathaway (BRK.A) defended its valuation of derivatives.

Reuters:   Retail sales fell and joblessness claims rose.

Reuters:   An active-matrix organic light-emitting diode has emerged as important technology for smartphones.

Reuters:   The Fed ordered CIT (CIT) to submit a business plan.

Reuters:   Twenty-five percent of homes for sales on August 1 had their prices lowered at least once.

Reuters:   Ford (F) has raised its output due to the “clunkers” program.

Reuters:   Wal-Mart (WMT) earnings beat expectations.

Reuters:   Apple (AAPL) will meet to replace Schmidt on its board.

WSJ:   The UBS settlement raises the question of whether customers should stay quiet or come forward.

WSJ:   Wal-Mart (WMT) is doing more to think locally to expand its business around the world.

WSJ:   Geithner said the Administration would not allow Wall St. to return to its old ways.

WSJ:   Carl Icahn was sued by a hedge fund over his actions regarding a takeover of XO Holdings.

WSJ:   Boeing (BA) has halted work on part of its Dreamliner due to design problems.

WSJ:   VW closed in on a deal to buy Porsche.

WSJ:   Microsoft (MSFT) set the price for its new Zune HD well below those for the Apple (AAPL) iPod.

WSJ:   Video game revenue fell more than expected in July.

WSJ:   Carrington Mortgage is being attacked for not providing proper mortgage modifications.

WSJ:   Blackstone (BX) will launch a China fund.

WSJ:   The largest holder in E*Trade (ETFC) cut its stake.

WSJ:   Blackstone’s (BX) new bonds sold well.

WSJ:   Republic topped a Southwest (LUV) bid for Frontier.

WSJ:   Magna moved closer to a deal to buy Opel.

WSJ:   GM and its China partners are expanding exports to South America and Africa.

WSJ:   Blockbuster (BBI) revenue dropped 22%.

NYT:  ” Traders at Promark Global Advisors accounted for many of the top 25 earners at General Motors.”

NYT:   A founder of Netscape is backing the new RockMelt browser.

FT:   TV networks are working to shake-up ratings long dominated by Nielsen.

FT:   Bank of America (BAC) Merrill Lynch unit is offering huge signing bonuses.

FT:   The Las Vegas Sands (LVS) negotiated a new debt deal.

Bloomberg:   Some banks are facing toxic loans becoming 5% or more of their assets.

Bloomberg:   Obama may seek fees from large  banks to cover costs of a consumer finance agency.

Douglas A. McIntyre