Media Digest 10/16/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Swiss banks are getting large amounts of capital to fight the global credit crisis.

Reuters reports that AIG (AIG) is lobbying to loosen government oversight rules.

Reuters reports that Bernanke said the credit crisis is threatening the US economy.

Reuters reports that netbooks have become cheap replacement for laptops, hurting the sales of the more expensive portable PCs.

Reuters reports that the SEC is extending the rule for short selling disclosures.

Reuters writes that Ebay (EBAY) warned on future earnings, driving its stock down.

Reuters writes that a new survey shows that shoppers will cut holiday spending.

Reuters reports that JPMorgan (JPM) and Wells Fargo (WFC) face risks because of the recession as they integrate the weaker banks they are merging with.

The Wall Street Journal reports that the Swiss government put $5.3 billion into UBS for a 9% stake.

The Wall Street Journal writes that FDIC Chairman Sheila Bair criticized the U.S. rescue plan for not addressing foreclosures.

The Wall Street Journal reports that companies short on cash are tapping revolving credit lines to the tune of billions of dollars.

The Wall Street Journal reports that tighter rules on car lending could hurt GM’s (GM) sales.

The Wall Street Journal reports that eight companies will launch a $100 million research project into blood clots caused by stents.

The Wall Street Journal reports that deposits are flowing into healthy banks.

The Wall Street Journal reports that the EU is pushing for oversight of its largest financial firms.

The Wall Street Journal reports that the credit crisis could hurt efforts to fight accelerating climate change.

The Wall Street Journal reports that the FCC released a report that say new spectrum opened for wireless portable devices would not interfere with TV signals.

The Wall Street Journal reports that airline fortunes are improving based on earnings from AMR (AMR) and Delta (DAL).

The Wall Street Journal reports that the credit crisis is hurting Europe car sales.

The Wall Street Journal reports that HP (HPQ) will make a touchscreen laptop.

The New York Times writes that home prices seem far from a bottom.

The New York Times reports that NY State wants to get back bonuses from former AIG executives.

The New York Times reports that the Fed’s “beige book" found economic weakness across the country.

The FT reports that "UBS, Europe’s largest casualty of the US credit crisis, would also transfer $60bn — the overwhelming majority — of its illiquid US securities to a new entity owned and controlled by the Swiss National Bank."

The FT writes that US hedge funds were hit by $43 billion in withdrawals in September.

The FT reports that oil fell below $75.

The FT reports that hedge funds asked the Bank of England to free up Lehman’s frozen assets.

The Ft reports that EDF abandoned plans to bid for Constellation Energy because of problems in the credit markets.

Bloomberg reports that Citadel Investment Group’s biggest hedge fund fell as much as 30 percent this year

Douglas A. McIntyre