Media Digest 12/11/2007 Reuters, WSJ, NYTimes, FT, Barron's

According to Reuters, the Fed is set to cut rates today.

Reuters writes that inflation in China hit an 11 year high at almost 7% in November.

Reuters reports that global deals are driving record M&A activity in Asia.

The Wall Street Journal writes that Washington Mutual (WM) cut is dividend and will sell preferred stock to raise capital.

The Wall Street Journal writes that TI (TXN) improved its forecast for the current quarter.

The Wall Street Journal says Valero (VLO) may sell some of its refineries to narrow its focus.

The Wall Street Journal writes that Ron Perlman may have to put more money into Revlon.

The Wall Street Journal writes that HP (HPQ) is moving into the big commercial printer business.

The New York Times writes that IACI (IACI) search engine Ask.com will offer a feature to make searches more private

The New York Times say that Sony (SNE) announced that its sales in the US are not being hurt by the economy.

The FT writes that Citigroup (C) has been off-loading asset from its SIVs cutting its exposure.

Barron’s writes that fewer and fewer people will be using telecom landlines, replacing them with cellphones and VoIP.

Bllomberg writes that Sony  will do more to make its PS3 a home networking device.

CNN Money sales Boeing (BA) will give an update on its delayed 787 today

Douglas A. McIntyre