Reuters:   A college education no longer means easy employment in China.

Reuters:   Fannie Mae (FNM) lost $14.8 billion.

Reuters:   The auto “clunkers” legislation passed the Senate.

Reuters:   Obama is in no rush to decide Bernanke’s appointment to a new term.

Reuters:   Private equity asked if it could relax FDIC rules.

Reuters:   Blackstone’s (BX) bankruptcy advisory business is growing quickly.

Reuters:   Hackers took down the Twitter site and slowed access to Facebook.

Reuters:   RBS (RBS) posted a first half loss and predicted two more hard years.

Reuters:   AIG (AIG) named the former head of American Express (AXP) as its chairman.

Reuters:   Citigroup (C) may give control to its Phibro group to the executive that it owes $100 million.

Reuters:   GM expects unit sales of 1.4 million in China this year.

WSJ:   The Credit Suisse (CS) plan to pay bankers with its own toxic assets is giving the employees good returns.

WSJ:   Private equity is slowly rebounding after two years.

WSJ:   The BOE is expanding its bond-buying plan.

WSJ:   Unilever’s plan to lower product prices helped improve earnings.

WSJ:   The loss at Sirius XM (SIRI) grew as subscribers fell.

WSJ:   Congress plans to spend $550 million on eight jets.

WSJ:   July hedge fund returns were strong.

WSJ:   A judge will force the SEC and Bank of America (BAC) to disclose details of a $33 million settlement.

WSJ:   Wells Fargo (WFC) is raising compensation for a number of workers.

WSJ:   Nasdaq and BATS will end “flash” orders.

WSJ:   Shares in Fannie Mae (FNM) and Freddie Mac (FRE) have done well but the mortgage market has not.

WSJ:   Buick will build bybrids to broaden its appeal.

WSJ:   Retailers expect poor back to school shopping.

WSJ:   CBS (CBS) provided better guidance.

WSJ:   China e-commerce site Alibaba will begin a push into the US.

WSJ:   Nvidia (NDVA) posted better-than-expected results.

NYT:   Credit checks are hurting the efforts of many to get new jobs.

NYT:   States are worried that the healthcare overhaul will hurt their finances.

NYT:   China may have to reign in bank lending.

NYT:   Ford (F) will replace or revamp a very large portion of its model line over the next three years.

NYT:   The FTC is working to cut oil price manipulation.

NYT:   Biogen (BIIB) says its partner Elan has violated their deal to share ownership of the drug Tysabri

FT:   Banks are still largely unwilling to increase the liquidity that they provide the market.

FT:   Morgan Stanley (MS) will pay $950 million for its TARP warrants.

FT:   Publicis is near buying Razorfish from Microsoft (MSFT).

Douglas A. McIntyre

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