Media Digest (9/24/2010) Reuters, WSJ, NYT, FT, Bloomberg

Reuters: Petrobras raised $70 billion in the largest stock offer in history.

Reuters:   There will likely be no tax cut before the election, according to Democrats

Reuters:   Obama asked the Chinese premier for more action on the yuan.

Reuters:   Anheuser-Busch (NYSE: BUD) will offer free beer to rebuild sales.

Reuters:   Oil fell on concerns about the slow pace of the recovery.

Reuters:   The FCC opened unused airwaves for potential mobile broadband.

Reuters:   The American Journal for Public Health says 16,000 people died because of cellphone use while driving from 2001 to 2007.

Reuters:   Time Warner (NYSE: TWX) could offer video on demand products as early as the first quarter of next year.

Reuters:   BHP Billiton (NYSE: BHP) made progress in its bid to buy Potash (NYSE: POT)

WSJ:   Some large US banks, under pressure to lend, will begin a “second look” at rejected mortgage applications, according to The Financial Services Roundtable

WSJ:   Regulators curbed the use of diabetes drug Avandia.

WSJ:   HSBC (NYSE: HBC) Chief Executive Michael Geoghegan will leave.

WSJ:   Steve Wadsworth, head of The Walt Disney (NYSE: DIS) interactive group, will leave.

WSJ:   Verizon (NYSE: VZ) will charge for mobile data use.

WSJ:   The Apple Inc (NYSE: AAPL) plan for internet TV shows for $.99 has split networks, some of which do not want to be part of the plan.

WSJ:   Bad news from Ireland and slowing eurozone GDP have renewed fears of economic trouble in Europe.

WSJ:   Sales of existing homes rose slightly last month.

WSJ:   The US is worried about China’s share of the rare metals market.

WSJ:   The travel business is growing faster than the economy.

WSJ:   Bristol-Myers (NYSE: BMY) will cut its workforce by 3%, joining Abbott (NYSE: ABT) in large layoffs.

WSJ:   Abbott will pay $450 million for rights to an experimental kidney drug.

WSJ:   The head of GE (NYSE: GE) hammered the US for lack of an energy policy.

WSJ:   Avis (NYSE: CAR) lifted its bid for Dollar-Thrifty (NYSE: DTR).

WSJ:   AMD (NYSE: AMD) cut its forecast.

WSJ:   The airlines are being threatened by traveler’s rights programs.

WSJ:   JPMorganChase (NYSE: JPM) will compete with American Express (NYSE: AXP) for high-end customers.

WSJ:   Program trading was 42% of NYSE volume last week.

WSJ:   Mortgage rates stayed near all-times lows.

WSJ:   The Treasury will sell $158 billion in paper.

NYT:   The US will push for a smaller IPO for GM to increase the value of shares issued.

FT:   The eurozone nations may set penalties for nations that do not follow budget rules.

Bloomberg:   Spain is under pressure to hold to its austerity plan.

Bloomberg:   Nike (NYSE: NKE) orders from China rose 25%.

Bloomberg:   Oracle (NASDAQ: ORCL) plans to buy chip makers.

Douglas A. McIntyre