Media Digest 2/2/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

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Reuters:   Volcker will testify that banks should curb risky trading.

Reuters:   The US sees “no reason” to challenge the Toyota (NYSE:TM) plan to fix cars it has recalled for pedal trouble.

Reuters:   The new budget has programs to save jobs but also creates huge deficits.

Reuters:   Boeing (NYSE:BA) says its airplane order book is getting smaller.

Reuters:   Goldman Sachs (NYSE:GS) may cut its CEO’s pay package because of outside pressure

Reuters:   Exxon’s (NYSE:XOM) quarterly profit topped forecasts.

WSJ:   Banks are no longer toughening lending standards and manufacturing has rebounded.

WSJ:   Banks are prepared to fight the Administration over new legislation about proprietary trading.

WSJ:   Burkle has challenged the Barnes & Noble (NYSE:BKS) poison pill and may wage a proxy fight.

WSJ:   Google (NYSE:GOOG) plans a store for business apps.

WSJ:   Boston Scientific (NYSE:BSX) settled some stent patent claims with Johnson & Johnson (NYSE:JNJ).

WSJ:   France Telecom (NYSE:FTE) will get a new CEO.

WSJ:   Yahoo! (NASDAQ:YHOO) and the AP reached a content licensing deal.

WSJ:   Exxon (NYSE:XOM) is drilling in more high risk areas and it’s gambling on big deposits which are hard to reach.

NYT:   Apple (NASDAQ:AAPL) has challenged the chip industry by designing its own processor for the iPad.

NYT:   The new budget raises the issue of  the future of the Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) bailouts

NYT:   Google (NASDAQ:GOOG) is increasingly clashing with European lawmakers over copyright and antitrust issues.

NYT:   Moody’s (NYSE:MCO) reports that $700 billion in junk debt is due between 2012 and 2014.

FT:   Obama will target overseas tax breaks.

FT:   Global manufacturing is increasing quickly.

FT:   US companies have issued positive earnings forecasts.

FT:   Demand for corporate loans in soft in the US.

Douglas A. McIntyre