Media Digest 8/1/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, GM (GM) is expected to post a huge loss.

Reuters reports that oil company profits rose, but Exxon (XOM) missed its numbers.

Reuters reported that stressed banks borrowed a record amount from the Fed last week.

Reuters writes that Yahoo!’s (YHOO) annual meeting is expected to the quiet.

The Wall Street Journal writes that Wal-Mart (WMT) told managers that it Democrats win the next election if will be easier for the company’s workers to unionize.

The Wall Street Journal reports that Motorola (MOT) made a small profit.

The Wall Street Journal write that the former CEO of Bear Stearns will not stay with JP Morgan (JPM).

The Wall Street Journal reports that GMAC’s loss may have caused credit ratings drops at some of the large car companies.

The Wall Street Journal writes that the FCC will reprimand Comcast (CMCSA) for blocking some customers from using file sharing programs which use large amounts of bandwidth.

The Wall Street Journal reports that IBM (IBM) will build a new large data center for corporate customers.

The Wall Street Journal reports that CBS will sell 50 radio station.

The Wall Street Journal reports that multiple-sclerosis patients treated treated with Biogen’s  drug Tysabri contracted a potentially deadly brain infection.

The Wall Street Journal reports that Bristol-Myers (BMY) has offered to buy ImClone.

The New York Times reports that some data points to a recession.

The New York Times reports that high fuel costs could delay some airline orders from Boeing (BA).

The FT reports that prices of crude oil fell in July by an amount not seen in 20 years.

Bloomberg writes that Nissan’s profits dropped 43%, mostly due to falling light truck sales.

Bloomberg reports that British Air dropped sales forecasts due to a 90% fall-off in profits and high oil prices.

Douglas A. McIntyre