Media Digest 1/24/2008 Reuters, WSJ, NYTimes, FT, Barron's

According to Reuters, Meg Whitman is stepping down as CEO of Ebay (EBAY).

Reuters writes that GM (GM) said it would rather be a strong No.2 in the global market than a weak No.1.

Reuters writes that China’s economy is slowing as exports drop.

Reuters writes that Wal-Mart (WMT) will become a "company of the future" by using its position as the world’s largest retailer to push for changes in health care, energy consumption and sourcing.

The New York Times writes that the failure of one major bond insurer could set off another round of huge losses across banks and investment houses.

The New York Times writes that the new head of Ebay will shift the company’s focus from auctions to fixed-price listings.

The New York Times reports that CBS (CBS) plans to make its internet music operation more like radio.

According to the FT Societe Generale has uncovered a fraud by one of its traders which cost the bank 4.9 billion euros.

The FT reports that the US is calling for more transparency and accountability from sovereign funds.

The FT writes that large deals across the globe are being put on hold because of the credit crisis.

The FT reports that regulators are pressing big banks to put money into bond insurers.

The FT writes that Tommy Hilfiger’s private equity owners have decided to pull their $2 billion IPO.

The Wall Street Journal reports that Citigroup (C) will close some US branches and focus its retail operation in metro areas.

The Wall Street Journal writes that patients with multiple clogged arteries are better off getting bypass surgery than stents.

The Wall Street Journal reports that Qualcomm (QCOM) reported an 18% increase in its net.

The Wall Street Journal writes that Motorola’s (MOT) problems have dealt Carl Icahn one setback after another.

The Wall Street Journal reports that Ford (F) may cut another 13,000 jobs.

Bloomberg writes that Siemens (SI) reported a rise in profits.

Bloomberg reports that a consulting firm believes the US financial industry may have to write off another $300 billion in subprime losses this year.

CNN Money writes that a number of traders are betting against the Countrywide (CFC) buy-out.

Douglas A. McIntyre