Media Digest 8/19/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   HP (HP) issued optimistic guidance.

Reuters:   China is investing in the private housing sector.

Reuters:   Buffett says the US is on a slow path to recovery.

Reuters:   US regulators urged Citigroup (C) to push out its former CFO.

Reuters:   The tax deal UBS (UBS) cut with the US may help the bank recover.

Reuters:   Australia is finding doing business with China is the difference between growth and recession.

Reuters:   People between 50 and 59 are taking more illicit drugs than a few years ago.

Reuters:   The legal head of Microsoft (MSFT) believes that there may be challenges to its deal with Yahoo! (YHOO).

Reuters:   AIG’s (AIG) new CEO is changing some of the firm’s restructuring plans.

Reuters:   Wal-Mart (WMT) is going to offer high-end cosmetics to bring in affluent customers.

WSJ:   US shoppers may undermine the recovery.

WSJ:   Pulte (PHM) closed its deal to buy Centex.

WSJ:   HP (HPQ) results were hurt by PCs and printers.

WSJ:   A Tishman Speyer-led partnership is in default on debt tied to a large office portfolio.

WSJ:   MGM (MGM) hired a turnaround specialist as CEO.

WSJ:   There are signs of stability in housing starts.

WSJ:   Sony (SNE) dropped the price on the PS3.

WSJ:   Natural gas prices hit a seven-year low.

WSJ:   The IMF sees deep scars in the global economy.

WSJ:   Freddie Mac (FRE) appointed a COO.

WSJ:   Microsoft (MSFT) is trying to reverse an injunction that may keep it from selling its Word software.

WSJ:   Private equity firms are holding onto cash they raise.

WSJ:   Home Depot (HD) and Lowe’s (LOW) are faced with a drop in high end home improvements.

WSJ:   Exxon Mobil (XOM)  has set up a $41 billion natural gas deal with China.

WSJ:   European regulators are looking into reports of exploding Apple (AAPL) iPhones.

FT:   Germany’s economy is recovering more quickly than expected.

FT:   Corporate bond issues worldwide have topped $1 trillion this year.

Bloomberg:   China’s market has entered bear market territory, down 20% this year.

Bloomberg:   Sovereign funds are curbing their appetite for risk after large losses.

Douglas A. McIntyre