Media Digest 12/15/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, there may be another bubble in commodities prices.

Reuters reports that the recession is hurting Japan’s economic sentiment and China’s industrial output.

Reuters writes that Bush said the auto bailout is not ready.

Reuters reports that total loss in home value in 2008 is more than $2 trillion.

Reuters writes that three European banks lost huge amounts in the failure of the Madoff funds.

Reuters reports that the Fed will press rates toward zero.

Reuters reports that retail weakness extended into December.

Reuters reports that the CEO of Wal-Mart (WMT) is changing consumer spending trends.

Reuters writes that Fannie Mae (FNM) will stop evictions in cases of foreclosures.

Reuters reports that Northern Trust will cut 450 jobs.

The Wall Street Journal writes that "Huntsman is expected to announce that it terminated its $6.5 billion agreement to be bought by Apollo Management and has settled all litigation against the New York buyout firm."

The Wall Street Journal reports that the Bush administration was looking at a large auto company bailout but faced funding and logistical problems.

The Wall Street Journal reports that falling US rates could drive Japanese investment out of the US.

The Wall Street Journal reports that OPEC could cut output buy two million barrels a day to raise prices.

The Wall Street Journal reports that Google (GOOG) is trying to get cable and telecom companies to give its traffic a faster path than other internet services get.

The Wall Street Journal reports that Coke (KO) is about to market a natural diet drink.

The Wall Street Journal reports that the government may set up rules to cut credit card rates.

The Wall Street Journal reports that banks are expecting bad quarterly earnings for the current period.

The Wall Street Journal reports that ETFs could be driving late day turns in the market.

The Wall Street Journal reports that Siemens (SI) will pay the US $800 million in a bribery case.

The Wall Street Journal reports that US drilling activity for gas and oil are dropping sharply.

The Wall Street Journal reports that GMAC is trying to bring in investors to pick up banking status from the government.

The Wall Street Journal reports that investors will be looking at forecasts for GE’s (GE) largest unit–infrastructure.

The Wall Street Journal reports that Take-Two’s (TTWO) earnings will show if it should have taken EA’s (ERTS) buyout offer.

The Wall Street Journal reports that a White House bailout of The Big Three could upset the normal order of bankruptcy procedures.

The Wall Street Journal reports that Walgreen’s expansion may be hard to scale back.

The Wall Street Journal writes that Liberty Media will spin out its entertainment division.

The Wall Street Journal reports that Charter (CHTR) will try to overhaul its debt structure.

The Wall Street Journal writes that China will complete its 3G systems upgrade soon.

The New York Times reports that state unemployment funds are drying up.

The New York Times reports that people moving out of hedge funds are putting a strain on managements to cope with the losses.

The New York Times reports that Detroit is not resorting to many small budget cuts.

The New York Times reports that Wall St. is wondering if Goldman Sachs (GS) can regain its premiere position after posting a loss this week.

The FT reports that Japanese business confidence hit a 34 year low.

The FT writes that HSBC (HBC) may have been hit with $1 billion from its investment with Madoff.

The FT reports that bank credit card reforms could cost banks billions.

The FT reports that US moves to cut mortgage costs could start soon.

Douglas A. McIntyre