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