Media Digest (10/20/2010) Reuters, WSJ, NYT, FT, Bloomberg

Reuters:   Geithner said the major currencies are “in alignment” but need negotiations to make sure their status remains that way.

Reuters:   Toyota (NYSE: TM) will fix 1.52 million Avalons.

Reuters:   The Administration said the mortgage problems were not “systemic.”

Reuters:   Apple Inc (NASDAQ: AAPL) launched a Macbook Air similar to the iPad.

Reuters:   Dell (NASDAQ: DELL) plans an ad campaign to improve its image as a provider of high-end machines.

Reuters:   The head of Conoco Philips (NYSE:COP) said the company may sell $10 billion in assets.

WSJ:   A drought has spread across the South and Midwest.

WSJ:   Goldman Sachs Group (NYSE: GS) may buy back the $5 billion investment made in the firm by Warren Buffett.

WSJ:   Geithner want to spend part of the G20 meeting to press for a global economy that depends less on the US consumer.

WSJ:   Problems at Credit Suisse (NYSE CS) hurt profits.

WSJ:   The US plan to regulate banks has been difficult because international plans about the financial system are incomplete.

WSJ:   The growth of China’s economy slowed in the third quarter.

WSJ:   Companies have begun to raise prices to offset higher commodities and metal costs.

WSJ:   The UK launched a huge austerity program.

WSJ:   PayPal results helped eBay (NASDAQ: EBAY) earnings.

WSJ:   The US may sell Saudi Arabia $60 billion in arms.

WSJ:   The Beige Book showed slowed economic growth.

WSJ:   The drop in the value of the dollar will not do much to help the US economy rebound.

WSJ:   Airline profits soared last quarter.

WSJ:   Procter & Gamble (NYSE: PG) will launch new marketing campaign to support recently released products.

WSJ:   Boeing (NYSE: BA) earnings moved from a loss to a profit.

WSJ:   The Samsung Galaxy tablet will cost $599 at Verizon Wireless stores.

WSJ:   A group may buy The Boston Globe from The New York Times Company (NYSE: NYT).

WSJ:   Fannie Mae and Freddie Mac may use lawsuits to recoup billions losses on bad syndicated loans.

NYT:   Courts will be hit by a wave of cases in which people will try to hold on to foreclosed homes.

NYT:   The housing secretary said there is no widespread problem in the foreclosure system

NYT:   Graco recalled millions of strollers.

FT:   The UK will cut its budget by an amount that is close to 4.5% of GDP.

FT:   The Federal Reserve may set a system of flexible repurchases of securities.

FT:   Obama must confront a lock down of the mortgage market.

FT:   Boeing said emerging markets have helped profits.

Bloomberg:   The price of rare earth skyrocketed as China cut exports.

Bloomberg:   Walmart (NYSE: WMT) has begun to look to Africa’s 1 billion consumers.

Douglas A. McIntyre