Media Digest (7/19/2012) Reuters, WSJ, NYT, FT, Bloomberg

A new consumer agency fines Capital One (NYSE: COF) $210 million for aggressive marketing activity.(Reuters)

New IMF policies will examine whether individual national economies might hurt global growth. (Reuters)

IBM (NYSE: IBM) raises its earnings estimates. (Reuters)

AT&T (NYSE: T) to raise the rates it charges customers for data use. (Reuters)

Microsoft (NASDAQ: MSFT) to release Windows 8 on October 26. (Reuters)

US Airways (NYSE: LCC) works with regulators on a possible buyout of AMR. (Reuters)

Bank of America (NYSE: BAC) and Credit Suisse (NYSE: CS) will make more expense cuts to improve margins. (WSJ)

China will offer African nations $20 billion in loans. (WSJ)

The U.S. Postal Service says it may default on a pension obligation of $5.5 billion. (WSJ)

Government data from Spain show its housing and bank problems have worsened. (WSJ)

Procter & Gamble (NYSE: PG) defends its embattled CEO. (WSJ)

EBay (NASDAQ: EBAY) earnings rise more than expected as PayPal’s success continues. (WSJ)

The National Retail Federation says average back-to-school spending will rise 14%. (WSJ)

Corn and soybean prices reach records because of widespread drought. (WSJ)

Huge layoffs at Yahoo! (NASDAQ: YHOO) may be needed  to bring its expenses into line with those of Facebook (NASDAQ: FB) and Google (NASDAQ: GOOG). (WSJ)

The AARP reports that foreclosure rates among people older than 75 have risen sharply. (NYT)

A new survey shows e-book sales rising much more quickly than those of traditional books. (NYT)

The Libor investigation moves to Credit Agricole, HSBC (NYSE: HBC), Deutsche Bank (NYSE: DB) and Societe Generale. (FT)

China will buy some of the pension assets of General Motors (NYSE: GM), many of which are large investments in U.S. public companies. (FT)

Novartis (NYSE: NVS) profits rise because of new drugs. (Bloomberg)

Douglas A. McIntyre