Media Digest 9/30/2009 Reuters, WSJ, NY Times, FT, Bloomberg

Reuters:   China celebrated 60 years of communist rule as a capitalist economy.

Reuters:   The IMF cut global debt write-offs to $3.4 trillion.

Reuters:   CIT (CIT) is close to a deal to give the company to bondholders.

Reuters:   Toyota (TM) plans a huge US recall because of defective floor mats.

Reuters:   The FDIC want banks to prepay to help it increase its fund.

Reuters:   Boston Scientific (BSX) will pay J&J (JNJ) $715 million to settle a tax dispute.

Reuters:   Hartford Financial named a former B of A (BAC) executive as CEO.

Reuters:   Wal-Mart (WMT) will increase its $10 holiday toy program.

Reuters:   A Fed governor said the agency’s policy would have to stay aggressive.

WSJ:   The IMF said bank write-downs would rise $1.5 trillion between now and the end of 2010

WSJ:   HP (HPQ) will merge its PC and printer divisions.

WSJ:  GM and eBay (EBAY) ended their online sales effort.

WSJ:   Dan Rather’s suit against CBS (CBS) was dismissed.

WSJ:   A former Moody’s (MCO) executive will testify about the firm’s rating practices.

WSJ:   Applied Materials (AMT) sees solar growth in China.

WSJ:   Web access to the three million plus homes without the Internet could cost $20 billion.

WSJ:   China would like Citigroup (C) to expand operations there.

WSJ:   The price of sugar is near a 28-year high.

WSJ:   A new set of ETFs will be run by stock-pickers.

WSJ:   FDA actions could slow the clearance of a number of important medical devices.

WSJ:   Cost cutting helped Nike (NKE) earnings.

WSJ:   Web ad sales in the UK passed TV.

NYT:   Some types of alternative energy could require the use of billions of gallons of water a year.

NYT:   Falling pick-up sales are hurting American auto makers.

NYT:   Americans do not like the fact that advertiser track them online.

NYT:   Warner Music (WMG) videos will go back onto Google’s (GOOG) YouTube.

NYT:   The SEC inspector general said that inspectors need to be better trained to check tips.

NYT:   Ontario sued tobacco companies seeking billions in damages.

FT:   The IMF warned of further investment risks.

FT:   New data helped hopes that US housing prices are becoming more stable.

FT:   Confidence is surging among US CFOs.

FT:   China is moving to cap industrial capacity.

FT:   The Wynn (WYNN) Hong Kong IPO priced at the top of its range.

Bloomberg:   Pimco said the new savings rate and lower spending by consumer will bring down investment returns to 5%.

Douglas A. McIntyre