Media
Media Digest 2/3/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
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According to Reuters, Bank of America (BAC) and Merrill Lynch did agree on a bonus package for employees before the merger. There had been questions about the approval.
Reuters reports that January could make a new low in retail sales.
Reuters writes that Citigroup (C) is considering breaking its deal with the NY Mets for stadium naming rights.
Reuters reports that pay TV firms could be a good investment in 2009.
Reuters reports that US car sales are seen extending their slide in January.
Reuters reports that BP (BP) had a fourth quarter loss.
Reuters reports that BHP (BHP) and Rio Tinto (RTP) should post good earnings because of business in China. The slowdown in that country will make the number had to match in the future.
Reuters writes that UBS (UBS) is in talks with Morgan Stanley (MS) about selling its brokerage unit.
Reuters reports that Citigroup (C) will put $36 billion in new mortgages and consumer loans.
The Wall Street Journal reports that regulators may start to oversee derivatives.
The Wall Street Journal reports that China’s migrant workers are suffering huge jobs losses.
The Wall Street Journal reports that Fiat is still looking at Chrysler.
The Wall Street Journal reports the the Obama health plan will be announced next week.
The Wall Street Journal reports that Macy’s (M) laid off 7,000 people.
The Wall Street Journal reports that GM (GM) and Chrysler are offering more buyouts.
The Wall Street Journal reports that the NYSE (NYX) is adjusting charges to draw new traders.
The Wall Street Journal reports that Applied Material (AMAT) will post a huge loss.
The Wall Street Journal reports that traders are making money on falling oil prices.
The Wall Street Journal reports that many banks are still tightening lending rules.
The Wall Street Journal reports that several top Dubai firms are facing Moody’s cuts.
The Wall Street Journal reports that Mattel (MAT) posted a surprise earnings drop.
The Wall Street Journal reports that Hitachi’s stock was hit by a credit downgrade.
The Wall Street Journal reports that Sandisk (SNDK) had a large loss.
The New York Times reports that consumers are saving more and spending less.
The New York Times reports that Chinese are moving money overseas.
The FT reports that the IMF expects Asia growth to slow to 2.7%
Bloomberg reports that UBS (UBS) is offering large bonuses to get Goldman Sachs (GS) and Morgan Stanley (MS) brokers.
Bloomberg reports that "bond investors’ bets on bank nationalizations are hindering already reduced lending by the world’s biggest financial institutions."
Bloomberg reports that US homeowners lost $3.3 trillion in property value in 2008.
Douglas A. McIntyre
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