Media Digest (8/17/2012) Reuters, WSJ, NYT, FT, Bloomberg

Some members of the Fed believe there is no need for QE3 and interest rates may be set higher by the central bank before 2014. (Reuters)

Facebook Inc. (NASDAQ: FB) shares drop below $20 as tens of millions of shares are unlocked. (Reuters)

Angela Merkel makes new comments about plans to back the euro. (Reuters)

Samsung claims in court that Apple Inc.’s (NASDAQ: AAPL) damage claims over intellectual property are overstated. (Reuters)

Research In Motion Ltd. (NASDAQ: RIMM) tells senior members of the Canadian government that it cannot rule out the sale of the company. (Reuters)

Kodak’s patent auction triggers collaboration between some companies that usually compete with one another — particularly Apple and Google Inc. (NASDAQ: GOOG). (WSJ)

Nintendo will release a larger gaming device — the 3DS XL. (WSJ)

Apple admits that its staffing programs at retail stores were wrong and changes them in favor of some employees. (WSJ)

Some drought-plagued land continues to sell for as much as $10,000 an acre. (WSJ)

Drops in the same-store sales of Sears Holdings Corp. (NASDAQ: SHLD) retail outlets continue. (WSJ)

Cablevision Corp. (NYSE: CVC) sets a deal to carry NFL programs. (WSJ)

Gap Inc. (NYSE: GPS) posts good sales and revises forecasts up. (WSJ)

China and India cut gold holdings in the second quarter. (WSJ)

U.S. imports of Saudi oil rise 20%, increasing America’s reliance on the kingdom. (NYT)

The government approves a deal for Verizon Communications Inc. (NYSE: VZ) to buy spectrum from several companies, including Comcast Corp. (NASDAQ: CMCSA) and Time Warner Cable Inc. (NYSE: TWC). (NYT)

U.S. corporate debt continues to draw investors despite low yields. (FT)

IDC reports that Lenovo has come close to catching Hewlett-Packard Co. (NYSE: HPQ) in global PC market share. (FT)

Facebook becomes the second-worst IPO performer since January 2011. (Bloomberg)

Douglas A. McIntyre