Media Digest (12/14/2011) Reuters, WSJ, NYTimes, FT, Bloomberg

A CME (NASDAQ: CME) executive says Jon Corzine knew about money that MF Global transferred to European accounts. (Reuters)

Accounting problems at Olympus may make it a takeover target. (Reuters)

Italian bond yields hit a eurozone record. (Reuters)

Avon Products (NYSE: AVP) replaces its CEO. (Reuters)

China vows to keep its economy growing despite difficulties elsewhere. (Reuters)

HTC says a ruling on IP issues with Apple (NASDAQ: AAPL) has been delayed. (Reuters)

The euro hits an 11-month low. (WSJ)

Olympus restates earnings. (WSJ)

Best Buy (NYSE: BBY) earnings come in below expectations, due in part to competition with (NASDAQ: AMZN). (WSJ)

General Electric (NYSE: GE) will find its earnings undermined in Europe. (WSJ)

The head of AMD (NYSE: AMD) plays down parts shortages after Intel (NASDAQ: INTC) warns on earnings. (WSJ)

The National Transportation Safety Board calls for a ban on cellphone use and text devices in cars. (WSJ)

A fight about payroll taxes delays the federal budget bill. (WSJ)

California must make $981 million in mid-term budget cuts. (WSJ)

Chrysler’s CEO says the company could make a $3 billion operating profit next year. (WSJ)

Morgan Stanley (NYSE: MS) must return about $700 million to investors in its flagship global real-estate fund.  (WSJ)

MBIA (NYSE: MBI) will pay Morgan Stanley $1.1 billion to settle allegations of selling guarantees on real estate. (WSJ)

Commerzbank may have too small a capital reserve if eurozone financial problems worsen. (NYT)

The Organisation for Economic Co-operation and Development says members must defend internet freedoms. (NYT)

International Monetary Fund officials urge more austerity for Greece. (NYT)

EU officials say the a new treaty already is beset by political arguments. (FT)

GE’s Immelt says the company could have double-digit growth if its industrial operations do well. (FT)

EBay’s (NASDAQ: EBAY) PayPal will challenge Groupon (NYSE: GRPN) and LivingSocial. (Bloomberg)

Members of OPEC, including Iran and Saudi Arabia, agree the group should set a production ceiling of 30 million barrels a day.  (Bloomberg)

Douglas A. McIntyre

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