Media Digest 8/20/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   UBS (UBS) shares may fall when the Swiss government sells out.

Reuters:   The US deficit estimate was trimmed to $1.59 trillion.

Reuters:   A homeowner sued Wells Fargo (WFC) over a credit line.

Reuters:   AIG (AIG) was sued by policyholders over the Madoff fraud.

Reuters:   Wall St. is worried about the pay czar’s ability to claw back old compensation.

Reuters:   The US “clunkers” program may end by early September.

Reuters:   GM and Magna will meet about Opel.

Reuters:   Rio Tinto (RTP) gave a good forecast when it announced earnings.

Reuters:   Fidelity said its assets and inflows are rising.

Reuters:   A UPS (UPS) worker sued the firm for overtime pay.

WSJ:   Outplacement firms are having trouble doing their jobs.

WSJ:   The SEC is playing catch up in terms of following Wall St.’s new technology.

WSJ:   Spanish bank BBVA won a U.S. government auction for Guaranty Financial.

WSJ:   Southwest (LUV) which lost the Frontier deal, is looking for new M&A candidates.

WSJ:   Google’s (GOOG) YouTube is pushing ways to make more money from ads and online content.

WSJ:   Short sellers are moving into VW again.

WSJ:   GM killed a new crossover it was planning to build.

WSJ:   Profits at China Mobile (CHL) rose.

WSJ:   CBS (CBS) will put video ads into a magazine for the first time.

WSJ:   New apps are fueling smart phone revenue.

WSJ:   Small firms are losing workers quickly.

WSJ:   The stock market rally is ignoring the job market.

WSJ:   Hedge funds are increasing their focus on China.

WSJ:   Fidelity assets rose 8% to $2.8 trillion.

WSJ:   Newspaper companies are attracting  investors but their earnings improvement may not last.

WSJ:   Nokia (NOK) needs to improve smartphone sales to turnaround its earnings.

WSJ:   A federal judge upheld Merck’s (MRK) Singulair patent.

WSJ:   Nokia (NOK) is trying to make handsets more affordable in India.

NYT:   Bernanke can’t shake critics.

NYT:   Toyota (TM) is falling behind other companies in an effort to make electric cars.

NYT:   The FDA warned J&J (JNJ) on an antibiotic drug.

NYT:   BJ’s Wholesale and Limited Brands both beat estimates.

NYT:   Monsanto and DuPont have increased their rivalry in the seed business.

FT:   “A coalition of large US state pension funds has backed the private equity industry’s opposition to new rules on takeovers of troubled lenders.”

FT:   The Shanghai Composite and S&P now have an 80% correlation.

FT:   Hedge funds are betting natural gas prices will triple.

Douglas A. McIntyre