Media
Media Digest (9/30/2010) Reuters, WSJ, NYT, FT, Bloomberg
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Reuters: China said legislation aimed at a devaluation of the yuan violated WTO regulations.
Reuters: IPOs do poorly in the People’s Republic now but can raise money from overseas investors.
Reuters: The new consumer czar argued that banks might be involved in setting credit rules.
Reuters: The head of Johnson & Johnson (NYSE: JNJ) must face Congress to discuss company recalls.
Reuters: Ireland faces a huge cost to bailout banks and will reset its budget.
Reuters: Oil gained the most in seven months on a weak dollar.
Reuters: Congress backed lower loan limits on government backed mortgages to keep the cost to borrow low.
Reuters: Facebook and Skype will explore an allegiance.
Reuters: Nokia (NYSE: NOK) began to ship its new N8 flagship.
Reuters: The delay of the Nintendo 3DS hurt company shares.
Reuters: China is at work to match a BHP Billiton (NYSE: BHP) bid for Potash (NYSE: POT)
Reuters: The chairman of American International Group (NYSE: AIG) said the US may profit from its bailout of the firm.
WSJ: American financial regulators are at odds about how to set rules for US firms.
WSJ: McDonald’s (NYSE: MCD) said it may drop its health plan for 30,000 workers if the US does offer a waiver for new rules about insurance. Bloomberg later reported that this story was wrong.
WSJ: Two senior Yahoo! (NASDAQ: YHOO) executives left the firm.
WSJ: The Anglo Irish Bank needs 34 billion euros.
WSJ: Some banks face trouble as they try to exit federal government support programs.
WSJ: Moody’s cut Spain’s Aaa rating.
WSJ: “Net neutrality” will not be set by Congress, but rather by the FCC.
WSJ: JPMorgan Chase (NYSE: JPM) ended some foreclosures due to incorrect documents.
WSJ: The wealthy are more likely to eat fast food.
WSJ: Austerity measures in Europe have caused worker unrest.
WSJ: The head of the World Bank pressed members on poverty.
WSJ: Russia and China may set a long-term gas deal.
WSJ: Cisco (NASDAQ: CSCO) will introduce home video conference products.
WSJ: If the Fed eases, the dollar will be hurt.
NYT: LG and Microsoft (NASDAQ: MSFT) will team for new cloud computer applications.
NYT: Oil companies may begin to drill of the coast of Cuba.
NYT: As Congress considers taxes for 2011, it has become difficult to define who is rich.
NYT: Avis (NYSE: CAR) raised its bid for Dollar Thrifty (NYSE: DTR).
FT: Sinochem has struggled to raise money for a Potash bid.
FT: Goldman Sachs Group (NYSE: GS) warned that EU regulations could drive bankers out of the region.
FT: The increased cost of funds for banks to match new EU regulations may cause banks to engage in risky behavior to raise capital.
FT: The IMF said investors rely too much on sovereign ratings.
Bloomberg: VW, with 200 models now competes with itself more than with GM or Ford (NYSE: F).
Bloomberg; Research In Motion (NASDAQ: RIMM) may use its new tablet OS in versions of the BlackBerry.
Douglas A. McIntyre
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