Media Digest 2/7/2008 Reuters, WSJ, NYTimes, FT, Barron's

Accorrding to Reuters, GM (NYSE: GM) will have half of its cars running on ethanol by 2012.

Reuters writes that Cisco (NASD: CSCO) gave a weak forecast, moving tech shares down.

Reuters writes that some investors think BHP Billiton (NYSE: BHP) will have to sweaten its bid for R Tinto (NYSE: RTP) again.

Reuters reports that Warren Bufferr thinks problems at US bank is "poetic justice".

The Wall Street Journal writes that Delta (NYSE:DAL) and Northwest (NYSE: NWA) are closer to a merger.

The Wall Street Journal writes that the credit crunch is beginning to hit the UK economy.

The Wall Street Journal reports that efforts to rescue MBIA (NYSE: MBI) will not prevent it from being downgraded by credit agencies.

The Wall Street Journal reports that Macy’s (NYSE: M) will cut 2,500 jobs.

The Wall Street Journal reports that Sony (NYSE: SNE) beat out rivals to be No.1 in US TV sales for the holiday period.

The Wall Street Journal writes that earnings at EDS (NYSE: EDS) were hurt by an outsourcing slump.

The Wall Street Journal says S&P will revamp its ratings system to monitor conflicts of interest.

The Wall Street Journal writes that the number of cellphone users worldwide will top non-users this year.

The New York Times writes that Wal-Mart (NYSE: WMT) will expand its in-store medical clinics.

The FT writes that Yahoo! (NASD: YHOO) says that a buy-out by Microsoft (NYSE: MSFT) is not its only option.

Douglas A. McIntyre