Media Digest 10/12/2009

Reuters:   E-mails and the credit crisis will be key to the trial of Bear Stearns workers.

Reuters:  The approval process for Tengzhong to buy Hummer has started in China.

Reuters:   Philips Electronics (NYSE:PHG) beat expectations.

Reuters:   Liz Claiborne’s (NYSE:LIZ) decision to sell its brands at J C Penny (NYSE:JCP) should help both companies.

Reuters:   Citigroup (NYSE:C)) is expected to be fined $600,000 by the Financial Industry Regulatory Authority over derivatives transactions that helped foreign clients avoid taxes on dividends.

Reuters:   Lazard (NYSE:LAZ) chief Bruce Wasserstein is in the hospital.

Reuters:   Small US firms are being crushed by the credit crisis.

WSJ:   CNOOC may offer a rival bid to Exxon’s (NYSE:XOM) for developing a Ghana oil field.

WSJ:   Companies are granting options to executives prior to M&A activity. The practice was done at Omniture (NASDAQ:OMTR), which was bought by Adobe (NASDAQ:ADBE), and Marvel (NYSE:MVL) ,which was bought by Disney (NYSE:DIS).

WSJ:   China is using futures exchanges to fight high commodities prices.

WSJ:   Microsoft (NASDAQ:MSFT) said the T-Mobile clients using handsets powered by the software company’s products may loss key data on their phones.

WSJ:   The SEC investigation is hurting already struggling KB Homes (NYSE:KBH).

WSJ:   Comcast (NASDAQ:CMCSA) wants the muscle of NBC Sports.

WSJ:   Lufthansa will offer advanced wireless connections on all of its long-haul flights.

WSJ:   Foreclosures are rising among expensive housing.

WSJ:   Investors are betting on Google’s (NASDAQ:GOOG) shares ahead of earnings.

WSJ:   Consumers are being asked to save more and spend more at the same time.

WSJ:   Wells Fargo’s (NYSE:WFC) takeover of Wachovia will allow it to expand its mutual fund business.

WSJ:   Financial firms are having to set aside money for off balance sheet funds.

NYT:   The Administration is upping attacks on News Corp’s (NYSE:NWS) Fox News.

NYT:   Google (NASDAQ:GOOG) and IBM (NYES:IBM) are offering university students tools to handle vast amounts of complex data.

NYT:   E-commerce companies are getting better at encouraging people to buy things that abandon at online stores.

NYT:   Clicks on display ads are dropping quickly.

FT:   Blackstone (NYSE:BLK) will list a number of the firms that it owns.

FT:   The US pay czar is getting tough on AIG (NYSE:AIG) pay packages.

FT:   Many investors are urging Bank of America (NYSE:BAC)  to hire an outside chief.

Bloomberg:   Soros will put $1 billion into green technology.

Douglas A. McIntyre