Media Digest 7/28/2009 Reuters, WSJ, NY Times, FT, Bloomberg

Reuters:   The recession has badly hurt investments in green technologies.

Reuters:   Obama called for deeper China ties with the US.

Reuters:   BP’s (BP) profits fell sharply.

Reuters:   Bank of America (BAC) will cut 10% of its branches

Reuters:   The CFTC blamed speculators for swings in oil prices

Reuters:   Chiefs of US housing agencies will push lenders harder for aid to homeowners.

Reuters:   A new derivatives bill is meant to cut speculation in those markets.

Reuters:   US home sales rose sharply in June.

WSJ:   The US efforts to modify mortgages to address the foreclosure crisis is not working.

WSJ:   The SEC issued rules to ban naked short selling.

WSJ:   A “cash for clunkers” rebate program is bring in car buyers.

WSJ:   Delphi’s lenders are about to take over the firm.

WSJ:   Canon’s profits fell sharply.

WSJ:   CEO Pandit said Citigroup (C) will maintain a strong presence in Asia.

WSJ:   Start-ups are sharing space to save costs.

WSJ:   Verizon (VZ) will cut 8,000 more jobs.

WSJ:   Google (GOOG) is working on technology to target TV ads and their content.

WSJ:   Time Warner (TWX) bought out Google’s (GOOG) stake in AOL.

WSJ:   The head of the Philadelphia Fed expressed concerns about an expanded role for the central bank.

WSJ:   GE’s (GE) financial arm is benefiting from government support but investors are concerned about the effects.

WSJ:   Unemployment may play a big role in the timing of the recovery.

WSJ:   Property stocks are outpacing the rise in Chinese markets causing concern.

WSJ:   Aetna (AET) dropped its outlook.

WSJ:   Amgen (AMGN) upped it outlook.

NYT:   Business class fares have dropped sharply.

NYT:   Tech firms are recovering, especially in Asia but the US market is lagging.

FT:   China warned banks over an asset bubble.

FT:   Apple (AAPL) will launch a tablet PC before the end of the year.

Bloomberg:   Toyota (TM) and Nissan cut production last month due to a weak US market.

Douglas A. McIntyre