Media Digest 1/29/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Nasdaq will turn to Asia for much of its future growth

Reuters reports that the new bank bailout could cost as much as $2 trillion.

Reuters writes that the Fed said it is prepared to buy debt to help the economy.

Reuters reports that Starbucks (SBUX) will cut more people as its profits fell.

Reuters reports that Google (GOOG) will let people search the internet for bandwidth blockers.

Reuters reports that Sony (SNE) had a Q3 loss.

Reuters writes that Shell’s profits fell on lower crude prices.

Reuters reports that despair is spreading with rising unemployment.

Reuters reports that Ford Motor Credit will cut 1,200 jobs.

Reuters reports that Qualcomm (QCOM) took a large job and made a weak forecast of 2009.

Reuters writes that Russia and China blamed the US for the global debt crisis.

The Wall Street Journal reports that the stimulus bill passed the House.

The Wall Street Journal reports that the US moved to help credit unions.

The Wall Street Journal reports that Citigroup (C) will operate with greater government oversight.

The Wall Street Journal reports that GM (GM) and Chrysler have begun to cut jobs.

The Wall Street Journal reports that the Saudis are seeks a role in the global economy.

The Wall Street Journal reports that AT&T (T) and Verizon (VZ) are seeking different growth strategies.

The Wall Street Journal writes that AOL (TWX) will cut 700 jobs.

The Wall Street Journal reports that junk debt is drawing more investors.

The Wall Street Journal reports that durable orders are a key to economic recovery.

The Wall Street Journal reports that the IMF cut global growth forecast but said a recovery could start by the end of the year.

The Wall Street Journal reports that Allstate posed a loss.

The Wall Street Journal reports that Ford (F) may get a bid for Volvo from China.

The Wall Street Journal reports that Avis and Hertz are seeking TARP funds to buy cars.

The Wall Street Journal reports that Canon’s profits fell 91%.

The Wall Street Journal reports that Boston Scientific (BSX) took a big write-off.

The Wall Street Journal reports that the net at The New York Times (NYT) fell.

The New York Times reports that the pieces of the stimulus package vary in size and the speed with which they will help the economy.

The New York Times reports that, despite big losses, Wall St paid out huge bonuses.

The New York Times reports that JPMorgan (JPM) exited Madoff funds last fall.

The FT reports that several international agencies indicated that the global economy is hitting its worst economic path in sixty years.

The FT reports that Nintendo posted a large profit by said the yen would challenge future quarters.

The FT reports that Bank of America (BAC) will cut defer bonuses.

The FT reports that Boeing (BA) was hurt by the first cancellation of 787 jets.

Bloomberg reports that the Fed warned of a deflation risk.

Douglas A. McIntyre