Media Digest 1/2/2008 Reuters, WSJ, NYTimes, FT, Barron's

According to Reuters, AT&T (T) may take a stake in Malaysia’s TM International

Reuters writes that weak Wall St. bonuses may cut into some luxury spending.

The Wall Street Journal reports that some money managers are beginning to invest in companies hit by the subprime mortgage fiasco.

The Wall Street Journal reports that several former General Re executives claim the Warren Buffett knew about a reinsurance deal that prosecutors say was fraud.

The Wall Street Journal writes that Broadcom (BRCM) won a patent victory over rival Qualcomm (QCOM).

The Wall Street Journal also reports that United Technologies (UTX) has developed a solar power storage technology that uses molten salt to store the sun’s heat.

The New York Times reports that The Centro Properties Group, which owns 700 malls in the United States is looking for a buyer.

The FT reports that Kuwait is looking at investing is distressed US financial companies.

The FT writes that a probe over whether a Chinese company can buy 3COM (COMS) is entering a new phase as national security implications of the deal are examined.

The FT reports that auditors will be more strict in apply standards as to whether companies have sufficient financing for operations, a sign that the credit crunch is spreading beyond financial firms.

Bloomberg writes that GM (GM) and Ford (F) December sales probably dropped ending the slowest year for US car sales since 1998.

CNN Money reports that auto supplier Delphi reported a net loss of $231 million for November.

Douglas A. McIntyre