Media Digest 8/24/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   BHP Billiton (NYSE: BHP) is likely to show strong profits as it continues its quest to buy Potash (NYSE: POT).

Reuters:   Chrysler will have a hard time turning a profit this year.

Reuters:   Hewlett-Packard (NYSE: HPQ) began a bidding war with Dell (NASDAQ: DELL) for 3 Par (NYSE: PAR)

Reuters:   The Nikkei hit a 15-month closing low below 9.000.

Reuters:   Taiwan’s LCD makers filed more suits against Sony (NYSE: SNE).

Reuters:   Tencent bought a Google (NASDAQ: GOOG) backed social network in China.

Reuters:   Nokia (NYSE: NOK) and Intel (NASDAQ: INTC) said their MeeGo mobile software was off to a good start.WSJ:   Seven of the Fed’s top officials were against changing the way that the central bank manages its portfolio according to an account of a August 10 meeting. The debate was about buying more long-term securities

WSJ:   Businesses are adopting the Apple (NASDAQ: AAPL) iPad.

WSJ:   The Administration may force lenders to pay higher fees to cover federal backing of mortgages.

WSJ:   Plans to distribute the BP (NYSE: BP) escrow account have been attacked.

WSJ:   Genzyme and Sanoft-Aventis are still fighting over the price of an M&A deal.

WSJ:   China investors may make a bid for Potash (NYSE: POT)

WSJ:   Bank disclosures of their sovereign debt holdings are incomplete.

WSJ:   Pay TV companies lost subscribers last quarter.

WSJ:   The SEC says the former CEO of Countrywide approved favorable loans to “favored” borrowers.

WSJ:   A judge blocked funds for federal stem cell research.

WSJ:   The FHA will increase funds it charges borrowers to increase its cash position.

WSJ:   Chrysler dealers, some with large inventories, are balking at selling new cars from Fiat.

WSJ:   Johnson & Johnson (NYSE: JNJ) recalled contact lenses.

WSJ:   IPOs of companies with famous brands may have hidden dangers.

NYT:   Nordstrom is trying to retain shoppers  on the Web by showing them inventory from its stores and online operations.

NYT:   TGP will create China currency funds.

FT:   More companies are turning to private placements for funds.

FT:   Austerity programs may hurt banks.

Bloomberg:   Dell may try to outbid HP for 3 Par.

Bloomberg:   Greek banks are being pressed to merge due to faltering economic indicators.

Bloomberg:   A restructuring of Citigroup’s (NYSE: C) consumer bank uncovered a number of troubled mortgages.

Douglas A. McIntyre