Media Digest 1/21/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, the financial crisis may speed up the approval of the Treasury Secretary.

Reuters reports that Fiat has set a deal to own 35% of Chrysler.

Reuters reports that an assault on free trade will be a political risk.

Reuters reports that IBM’s (IBM) profits and forecasts beat Wall St. estimates.

Reuters writes that shares of Bank of America (BAC) and Citigroup (C) fell on fear of more losses.

Reuters reports that bargains are luring Carlos Slim back to investing.

Reuters reports that BHP (BHP) will cut 6,000 jobs.

Reuters writes that Eaton said it will cut 5,200 jobs.

Reuters reports that Microsoft (MSFT) may cut jobs due to weak earnings.

Reuters reports that Societe Generale said it would make money in 2008 but have trading losses.

Reuters writes that GM (GM) expects new government funds due to a cash crunch.

Reuters reports that global retailers are worried that they will be hurt by falling demand in China.

The Wall Street Journal reports that the Fiat deal with Chrysler will need a $3 billion loan from the government.

The Wall Street Journal reports that shares in State Street (STT) dropped after a big loss.

The Wall Street Journal reports that Warner Bros will cut 800 jobs (TWX).

The Wall Street Journal reports that Google (GOOG) will cut print ad sales.

The Wall Street Journal reports that used games are selling well at Gamestop.

The Wall Street Journal reports that the FCC will look into whether Comcast (CMCSA) is degrading phone service from rivals.

The Wall Street Journal reports that Citigroup (C) cut its dividend to a penny.

The Wall Street Journal reports that bad mortgages are pushing some Federal Home Loan Banks below their capital requirements.

The Wall Street Journal reports that Microsoft (MSFT) sold its stock in Comcast.

The Wall Street Journal reports that the government is looking at a new bank rescue.

The Wall Street Journal reports that Johnson & Johnson (JNJ) sales results show health care spending is faltering.

The Wall Street Journal reports that Saudi Arabia Holding reported a huge loss.

The Wall Street Journal writes that airlines may have more profitable years ahead.

The Wall Street Journal reports that BOE may cut rates again.

The New York Times reports that Obama has no quick fix for banks.

The New York Times reports that Singapore sees its growth slowing.

The New York Times reports that online video of the Inauguration set records.

The New York Times reports that Clear Channel cut 1,850 jobs.

The FT reports that the CEO of Sony (SNE) is battling the "old guard" at the company over job cuts.

Bloomberg reports that Pimco withdrew from the group handling GM (GM) bondholder talks after saying it would back out of a pledge to swap debt at GMAC.

Bloomberg said Ericsson will cut 5,000 jobs.

Douglas A. McIntyre