Media
Media Digest 8/10/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
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Reuters: Economists have cut forecasts and look to the Federal Reserve to take action.
Reuters: BP Plc (NYSE: BP) will try the final stage of killing its leaking well and has begun to fund its $20 billion escrow.
Reuters: Verizon Communications (NYSE: VZ) and Google Inc. (NASDAQ: GOOG) have proposed controversial web traffic rules.
Reuters: Oil fell below $81 on lower China imports.
Reuters: Skype filed for an IPO of $100 million.
WSJ: BP may use future profits from Gulf operations to guarantee its escrow fund.
WSJ: At least 36 of 100 money market funds received more than $12 billion in aid between August 2007 and December 2009 to pull through the financial crisis according to Moody’s (NYSE: MDO).
WSJ: Customers of Hewlett-Packard (NYSE: HPQ) said they would stick with the tech giant.
WSJ: The Commerce Department says income in most cities fell, except those with a high concentration of government employees.
WSJ: The Bank of Japan left interest rates unchanged.
WSJ: KKR dropped plans for an IPO.
WSJ: Wal-Mart (NYSE: WMT) will use Wi-Fi to help sell TVs.
WSJ: The Saudis are waiting for Research In Motion (NASDAQ) to make changes to BlackBerry security settings.
WSJ: Sluggish productivity is hurting the economy.
WSJ: More investors are moving out of the dollar.
WSJ: Saudi Arabia will not ban the BlackBerry.
WSJ; Freddie Mac has sought more government aid.
WSJ: Siemens (NYSE : SI) is seeking to grow in the US.
WSJ: Investors chasing yield are putting more money into Aaa firms like IBM (NYSE: IBM).
NYT: The Fed is concerned that deflation is a problem.
NYT: Merrill Lynch covered up risks of mortgage securities.
NYT: China’s trade surplus rose to $28.7 billion.
NYT: China shut 2000 factories to increase energy efficiency.
NYT: Chrysler loss narrowed on higher sales and lower costs.
FT: Problems on Wall St. have hurt big banks’ earnings, especially Goldman Sachs Group (NYSE: GS)
Bloomberg: China’s trade surplus rose as imports fell.
Bloomberg: Warren Buffett shortened the duration of bonds held by his Berkshire Hathaway Inc. after warning that deficit spending could force inflation higher.
Douglas A. McIntyre
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