Media Digest 1.27.2011 Reuters, WSJ, NYT, FT, Bloomberg

Microsoft’s (NASDAQ: MSFT) earnings will be hurt by slowing PC sales .(Reuters)

Fannie Mae and Freddie Mac want to cut the dividend on their preferred shares. The money goes to the Treasury Department. (FT)

Congress plan to introduce another bill to force China to alter the value of the yuan. (Reuters)

The budget deficit will hit $1.48 trillion, according to the CBO. (Reuters)

The euro hit a tw0-month high but trouble in the region may cap it. (Reuters)

Sony (NASDAQ: SNE) released the NGP handheld game system to challenge other portable game devices and smartphones. (Reuters)

Nintendo’s Q3 profit dropped 42%. (Reuters)

Lenovo said that tablet sales would soon be 10% to 15% of the PC market. (Reuters)

Shares in Demand Media and Nielsen rose after their IPOs. (Reuters)

A rise in BSkyB profits may make it harder for Rupert Murdoch’s News Corp (NYSE: NWS) to buy the company. (Reuters)

S&P cuts its rating of Japan to AA- .(WSJ)

Hulu may alter its business plan to become a competitor to cable TV offering bundled program packages. (WSJ)

Geithner want a tax system that allow that market to set rates rather than the tax system. This should increase investment activity by business. (WSJ)

Exxon Mobil (NYSE: XOM) expects natural gas to supply 25% of global energy needs by 2025. (WSJ)

The US is trying to move out of its GM (NYSE: GM) position quickly. (WSJ)

The Glencore IPO may increase the global trade in raw materials. (WSJ)

Skype will not have an IPO until the second half. (WSJ)

The Federal Reserve will stay with its $600 billion bond purchase program due to its view of economic weakness. (WSJ)

Inflation is one of the issues which is center stage at Davos. (WSJ)

China firms may invest more in US infrastructure companies. (WSJ)

Two former Galleon traders plead guilty to insider trading charges. (WSJ)

Banks are making it hard for some municipalities to renegotiate rates. (WSJ)

The US had a $12.3 billion profit in its TARP investment in Citigroup. (NYSE: C)

The new head of the House Committee on Oversight and Government Reform said some banks should break themselves up to help prevent a future financial crisis. (NYT)

Moody’s (NYSE: MDO) review of state will include unfunded pension liabilities. (NYT)

The BBC will cut 650 jobs. (NYT)

A Bloomberg survey of its customers showed that 45% expect a major financial crisis in China within the next five years. (Bloomberg)

China increased the amount necessary for property down payments to coll the real estate market. (Bloomberg)

Douglas A. McIntyre