Media Digest 9/2/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, the manufacturing sector probably did not grow in August

Reuters reports that it appears Gustav did little damage to oil rigs and refineries.

Reuters reports that the Korea Development Bank confirmed it was in talks with Lehman (LEH).

Reuters writes that Alcatel-Lucent (ALU) named new management.

Reuters writes that Google (GOOG) will offer a new video-sharing service for businesses.

Reuters writes that one Fed governor said that the ageny’s intervention in the credit crisis hurt its role of managing inflation.

Reuters writes that Commerzbank will cut 9,000 jobs when it takes over Dresdner Bank.

The Wall Street Journal reports that Google will launch an internet browser to compete with Micorosft (MSFT).

The Wall Street Journal reports that Boeing (BA) and its union are in a stand-off.

The Wall Street Journal writes that Electronic Arts (EA) has a great deal bet on its new game, Spore.

The New York Times reports that airlines are still faced with major problems due to the price of oil.

The New York Times reports that the toll taken by Gustav on insurance companies looks much smaller than Katrina.

The New York Times writes that oil dropped below $109 as concerns about Gustav receded.

The FT writes that retail investment in stocks hit a new low.

Bloomberg writs that hedge funds including  SAC Capital Advisors LLC and Citadel Investment Group are picking up talent as other hedge funds fail.

Douglas A. McIntyre