Media Digest (10/18/2012) Reuters, WSJ, NYT, FT, Bloomberg

China’s gross domestic product rises only 7.4%, but some data shows its economy may have bottomed. (Reuters)

An analysis issued by the White House shows that Chinese telecom Huawei Technologies has not spied on the United States. (Reuters)

Nokia Corp. (NYSE: NOK) is likely to post a loss as it launches new models. (Reuters)

Home building is at the highest level in four years, a sign housing has rebounded sharply. (WSJ)

BP PLC (NYSE: BP) is close to selling its part of Russian joint venture TNK-BP for $25 billion to Russia oil company Rosneft. (WSJ)

The European Union continues to struggle with a bailout for Spain, which may cost less than the expected 100 billion euros. (WSJ)

Results from PayPal push eBay’s (NASDAQ: EBAY) profits higher. (WSJ)

Sprint Nextel Corp. (NYSE: S) plans t0 buy a controlling interest in 4G partner Clearwire Corp. (NASDAQ: CLWR). (WSJ)

AMR posts poor earnings, but revenue from American Airlines is strong. (WSJ)

A survey of Harvard Business School graduates shows that they have little confidence in the economy. (WSJ)

Exxon-Mobil Corp. (NYSE: XOM) will buy Celtic Exploration for $2.63 billion to add more shale inventory in Canada. (WSJ)

A trial between AMC and Dish Network Corp. (NASDAQ: DISH) is interrupted, but it is not clear why. (WSJ)

Troubled for-profit education firm Apollo Group Inc. (NASDAQ: APOL) will close 150 of its Phoenix locations to cut costs. (WSJ)

Government warnings about certain drugs slow production and leave some treatments in short supply. (NYT)

Chinese experts say the nation’s solar industry is in deep trouble and may need mergers to survive. (FT)

Trouble with Spain’s banks will worsen its sovereign debt crisis. (Bloomberg)

A developing market slowdown hurts Nestle earnings. (Bloomberg)

Douglas A. McIntyre