Media Digest (8/6/2010) Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Romer left her job as a top Obama economic adviser.

Reuters:  BP plc (NYSE: BP) has cemented its leak in advance of a permanent plug.

Reuters:   Saudi Arabia continued talks with Research In Motion (NASDAQ: RIMM) about a ban of the BlackBerry in that country.

Reuters:  Wheat hit a 23-month high as  Russia banned exports.

Reuters:   Oil moved above $82.

Reuters:   Facebook and other social media cost the UK billions as people use the services at work.

Reuters:   GM is working on an IPO but it is not ready.

Reuters:   China’s CNOOC may bid for BP’s Argentine assets.

WSJ:   Another “flash crash” could happen because of complexity and fragility in the system of computer-traded stocks.

WSJ:   Bank of American (NYSE: BAC) wants to be free of confidential restrictions put on it during the credit crisis.

WSJ:   The electronics industry is suffering from a parts shortage.

WSJ:   The FCC may end private talks with cable, wireless and wireline companies over net neutrality.

WSJ:   Fannie Mae’s quarterly loss was the smallest in three years.

WSJ:   Cell phone ads are still not using the entire screen because of concern about customer reaction.

WSJ:   OSHA will not ban the use of flammable natural gas to clear pipes.

WSJ:   Massey may not have properly used methane detectors before its mine tragedy.

WSJ:   The ECB purchase of national debt may have hurt its credibility.

WSJ:   Greece met its austerity targets.

WSJ:   Retail chains have been hurt by slow summer sales.

WSJ:   The US guaranteed a Fort Motor (NYSE: F) export loan.

WSJ:   Honda Motor (NYSE: HMC) predicts that the yuan will weaken.

WSJ:   US companies face slower earnings growth for the rest of the year.

WSJ:   A China purchase of US corn may be a sign of rising agricultural exports.

NYT:   GM would like the US to sell all its shares in an IPO.

NYT:   Jean-Claude Trichet, head of the ECB, is more optimistic about Europe.

FT:   Troubles in the US jobs market have limited investor taste for risk.

FT:   GM is offering “lifetime” warranties on some Vauxhall and Opel cars.

FT:   Barclays (NYSE: BCS) said if its consumer and investment banks are split it may move business overseas.

Bloomberg:   The US and Canada are helping RIM to avoid bans in the Middle East.

Bloomberg:   An analyst group says austerity measures will force many companies out of business.

Douglas A. McIntyre