Media Digest (9/22/2010) Reuters, WSJ, NYT, FT, Bloomberg

Reuters:   White House adviser Larry Summers will leave.

Reuters:   There is more support in Washington to press China hard on the yuan.

Reuters:   The prime minister of Japan said its intervention on the yen may not be over.

Reuters:   The Fed said it may provide further stimulus.

Reuters:   The House Ways and Means Committee could propose legislation on the yuan.

Reuters:   Deloitte did a study that said as many as half of Apple Inc. (NASDAQ: AAPL) iPhone users would switch from AT&T (NYSE: T) to Verizon Wireless.

Reuters:   Research In Motion (NASDAQ: RIMM) may launch a tablet PC.

Reuters:   Twitter repaired a flaw after a major cyber attack.

Reuters:   Sinochem has hired investment bankers to work on a counterbid for Potash (NYSE: POT).

WSJ:   The head of big Italian bank UniCredit resigned.

WSJ:   Moody’s says that corporate default rates have dropped.

WSJ:   The PM of Spain said the European debt crisis has ended.

WSJ:   Blockbuster is close to bankruptcy.

WSJ:   The value of web start ups has soared.

WSJ:   Adobe (NASDAQ: ADBE) results disappointed Wall St.

WSJ:   Sony’s (NYSE: SNE) PlayStation has been altered to better compete with the Nintendo Wii.

WSJ:   Investors sold the dollar and bought Treasuries and gold as they feared Fed action.

WSJ:   The Administration’s Making Work Pay tax credit may lapse.

WSJ:   Russia and China agreed to a joint refinery deal.

WSJ:   Abbott Labs (NYSE: ABT) said it would cut 3,000 people as part of a consolidation.

WSJ:   MetroPCS launched a 4G network in Las Vegas.

WSJ:   Ireland had a successful bond auction.

WSJ:   Deutsche Bank warned about its profits.

WSJ:   American International Group (NYSE: AIG) is close to the sale of two of its Japanese units.

NYT:  Stores that sell cheap goods have seen a sharp increase in business.

NYT:   The increase in the size and power of Oracle (NASDAQ: ORCL) worries some of its customers.

FT:   The “like” button on Facebook has helped marketers which use the service to build business.

FT:   JPMorgan Chase (NYSE: JPM) has used its M&A activity to build a powerful presence in key sectors.

FT:   Huawei will allow inspections of its network to allay US security concerns.

Bloomberg: Microsoft (NASDAQ: MSFT) raised its dividend and may borrow $8 billion.

Douglas A. McIntyre