Media Digest (10/3/2012) Reuters, WSJ, NYT, FT, Bloomberg

Investing

Published: October 3, 2012 6:27 am

The founder of Best Buy Co. Inc. (NYSE: BBY) is well along with an $11 billion buyout plan. (Reuters)

As some companies leave Spain, the nation’s tax base falls. (Reuters)

China’s services purchasing managers index drops near a two-year low. (Reuters)

Hewlett-Packard Co.’s (NYSE: HPQ) printer business is so successful it will give the company time for the current turnaround. (Reuters)

Freddie Mac’s plan to finance people who want to buy foreclosed homes falters. (WSJ)

Deutsche Telekom A.G. (NYSE: DT) says its T-Mobile business may buy MetroPCS Communications Inc. (NYSE: PCS). (WSJ)

The Organization for Economic Cooperation and Development says inflation rose in many of its member nations, which could mean central banks will adjust their programs. (WSJ)

Spain’s labor ministry says unemployment rose 1.7% in September. (WSJ)

Google Inc.’s (NASDAQ: GOOG) Motorola Mobility pulls a patent claim filed against Apple Inc. (NASDAQ: AAPL) at the ITC. (WSJ)

General Electric Co. (NYSE: GE) to call for inspections of jet engines used on some Boeing Co. (NYSE: BA) planes. (WSJ)

The FCC asks for comments about a takeover of Sirius XM Radio Inc. (NASDAQ: SIRI) by Liberty Media Corp. (NASDAQ: LMCA). (WSJ)

Slow growth in China hits commodities prices. (WSJ)

An EU commission wants large Europe banks to break off trading operations from deposit-based ones. (WSJ)

U.S. auto sales reach their highest rate in four years in September. (NYT)

Petrobras will sell $6 billion of assets based in the Gulf of Mexico. (FT)

A T-Mobile buyout of MetroPCS would hurt the prospects of Sprint Nextel Corp. (NYSE: S). (Bloomberg)

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.