Media Digest 1.3.2011 Reuters, WSJ, NYT, FT, Bloomberg

Facebook raised money at a $50 billion valuation. (NYT)

Foreign commercial real estate investors ranked the US as the No.1 location to buy properties. (Reuters)

Oil is unlikely to surge quickly above $100.  (Reuters)

House Republicans will try to repeal the health care law. (Reuters)

Apple (NASDAQ: AAPL) has problems with the accuracy of alarm on the iPhone 4. (Reuters)

Google Inc (NASDAQ: GOOG) will create a digital newsstand for newspapers and magazines. (WSJ)

Intel (NASDAQ: INTC) will use a new chip to attract paid entertainment companies. (Reuters)

Skype could become illegal in China. (Reuters)

Oil companies are still waiting for the first approval of new wells in the Gulf of Mexico. (WSJ)

A book distributor will stop shipping books to cash poor Borders Group. (NYSE: BGP) (WSJ)

Large companies seem ready to use the huge amounts of cash on their balance sheets for expansion. (WSJ)

China will allow companies to keep foreign currency profits instead of giving them to the government. The move could undercut inflation and slow the growth of the nation’s reserves. (WSJ)

Bank stocks face difficulties that may keep them from advancing. (WSJ)

The UAW will target foreign car plants to add to its power over manufacturers. (WSJ)

Verizon Wireless will release Google Android-powered phones. (WSJ)

Cooper prices hit a high and are likely to rise. (WSJ)

Bank of America (NYSE: BAC) has worked to protect itself from major disclosures by WikiLeaks. (NYT)

Nintendo means to take back the portable game market with 3D. (NYT)

Rivals to the Apple (NASDAQ: AAPL) iPad are expected to release a huge number of tablet PCs. (NYT)

Expedia (NASDAQ: EXPE) stopped sales of American Airlines (NYSE: AMR) tickets. (FT)

Output growth in China and India has slowed but increased in South Korea and Taiwan. (FT)

VW’s CEO got a contract extension as the German car company tries to top Toyota Motor (NYSE: TM) in global sales. (Bloomberg)

Vizio will try to attack Apple with low priced phones and tablets (Bloomberg)

US car sales probably rose in December. (Bloomberg)

Douglas A. McIntyre