Media Digest (1/22/2010) Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   China battle back at US charges about cyber attacks.

Reuters:   Under the new Obama proposal, banks may drop private equity assets.

Reuters:   Hershey (NYSE:HSY) will not make a counter bid for Cadbury (NYSE:CBY)

Reuters:   Toyota (NYSE:TM) upped its recall to 2.3 vehicles.

Reuters:   Google’s (NYSE:GOOG) profits rose, but revenue missed some forecasts.

Reuters:   American Express (NYSE:AXP) beat forecasts as did AMD (NYSE:AMD).

WSJ:   NBC (NYSE:GE) is moving quickly to rework its prime time line up.

WSJ:   Bernanke faces a Senate vote for confirmation which may be tight.

WSJ:   Target (NYSE:TGT) will cut new store expansion.

WSJ:   Losses from Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) could hit the US deficit.

WSJ:   Nokia (NYSE:NOK) will offer free GPS on many models.

WSJ:   GE (NYSE:GE) is struggling as its status drops from admired conglomerate to a cause for concern on Wall St.

NYT:   The Treasury may try to improve a program that fights foreclosures.

FT:   Obama declared war on Wall St.

FT:   Google (NASDAQ:GOOG) will try to stay in China.

Bloomberg:   The Obama banking legislation proposals might force Goldman Sachs (NYSE:GS) and JPMorgan (NYSE:JPM) to close their buyout operations.

Douglas A. McIntyre