Investing

Media Digest 6/29/2009

Reuters:   GM will accept product liability on cars it has built in the past.

Reuters:   Obama could consider a second stimulus if necessary.

Reuters:   Rising office availability in NYC is slowing.

Reuters:   VW says it has not issued an ultimatum to Porsche on a tie-up.

Reuters:   Tata launched Jaguar and Rover in India.

Reuters: Microsoft (MSFT) will sell its Razorfish unit.

Reuters:   Novartis (NVS) is in talks to buy most of Elan.

Reuters:   Anglo American is in talks about a transaction with Chinese interests.

WSJ:   The administration is still having trouble solving the problem of huge amounts of bad debt on bank books.

WSJ:   Boeing’s (BA) 787 delay may give buyers a chance to get concessions.

WSJ:   GM has asked that the Saturn brand not be subordinate to buyer Penske’s name for now.

WSJ:   Junk bond yields may go higher in the face of higher borrowing and rising defaults.

WSJ:   Towers Perrin and Watson Wyatt will merge to create the world’s largest employee-benefits consultancy.

WSJ:   Valero (VLO) has started powering some refineries with wind.

WSJ:   The DOJ has extended its examination of the Oracle deal to buys Sun (ORCL)(JAVA).

WSJ:   PNC (PNC) is waiting to repay TARP funds.

WSJ:   Businesses complained to China’s premier to scale back new content blocking software for PCs.

WSJ:   Some states are considering levies on oil and gas production.

WSJ:   The current market rise will need to be supported by earnings.

WSJ:   UBS (UBS) is still struggling to get profitable.

WSJ:   Banks may try to spread losses on commercial real estate over time.

WSJ:   Exxon (XOM) and AMR (AMR) are struggling with people creating fake Twitter accounts in their names.

FT:   Madoff could get as much as a 150-year sentence.

FT:   Equity and debt issued by banks is offsetting losses on toxic assets.

FT:   The TV industry is faced with a $2 billion revenue shortfall as audiences watch video online.

Bloomberg: The dollar may rise by the most since 1981 between now and the end of 2009.

Bloomberg:   Vodafone (VOD) may bid for the Deutsche Telekom (DT) T-Mobile assets in the UK.

Douglas A. McIntyre

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