Media Digest (2/10/2011) Reuters, WSJ, NYT, FT, Bloomberg

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By Douglas A. McIntyre Updated Published
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Bernanke warned that sharp budget cuts could derail the recovery. (Reuters)

The Hong Kong exchange said it was open to mergers after marriages began between North American and European exchanges. (Reuters)

Facebook and Google (NASDAQ: GOOG) have both looked at deal to buy Twitter at a valuation which could be as high as $10 billion. (WSJ)

The Congressional Oversight Panel said Ken Feinberg did not do a good job revealing his practices as he cut Wall St. pay. (Reuters)

RealtyTrac said home foreclosures rose in January. (Reuters)

McAfee said Chinese hackers broke into the online files of five large multinational energy firms. (Reuters)

An ECB board member said rising commodity prices would not cause inflation. (News)

Hewlett-Packard (NYSE: HPQ) will launch its new table, “TouchPad” to compete with the Apple (NASDAQ: AAPL) iPad and Google Android-powered tablet PCs. (Reuters)

Cisco (NASDAQ: CSCO) caused concern among investors because of its weak earnings outlook. (Reuters)

Nokia (NYSE: NOK) canceled its new Meebo phone and admitted it will have big challenges ahead as it tries to compete in the smartphone business. (Reuters)

Activision Blizzard will drop its “Guitar Hero” video game line. (Reuters)

The London Stock Exchange merger with the Toronto exchange has pressured other exchanges to consider joining together. (Reuters)

PetroChina (NYSE: PTR) will pay $5.4 billion for Canadian gas assets. (Reuters)

Some investment firms may have been overcharged by currency trading operations at banks. (WSJ)

The New York Stock Exchange (NYSE: NYX) may be bought by Deutsche Borse. (WSJ)

Clearwire (NASDAQ: CLWR) will end its retail business and focus on WiMax infrastructure. (WSJ)

Some House Republicans say they are worried about troubled state deficits. (WSJ)

Corn futures rose sharply on news that crop supply will be smaller than expected. (WSJ)

Nokia and Microsoft (NASDAQ: MSFT) are in discussions about jointly made smartphones. (WSJ)

Students taking Advanced Placement tests are posting extremely low scores. (WSJ)

Brazil will cut spending in an effort to undermine inflation. (WSJ)

Oil drilling in the US has risen sharply. (WSJ)

Whole Foods posted better-than-expected earnings. (WSJ)

A $4.1 billion charge against AIG (NYSE: AIG) earnings will sharply reduce earnings but clean its books for an IPO. (WSJ)

Short sales declined on Nasdaq shares. (WSJ)

Gazelle, a research firm, says Apple (NASDAQ: AAPL) iPhones hold their value better than most other smartphones sold on the market for used handsets. (WSJ)

AT&T (NYSE: T) is concerned about sales now that Verizon Wireless will sell the Apple iPhone. (NYT)

Medical device makers say US government regulations have hurt their market in the US. (NYT)

The US delay the AIG IPO until May. (FT)

The IMF’s independent auditor office said the agency missed warning signs of the financial crisis because it did not see risking in US and UK bank regulation and oversight. (FT)

Rio Tinto (NYSE: RTP) earnings grew due to the rising price of oil. (Bloomberg)

The CFO of Wells Fargo (NYSE: WFC) may receive as much as $22 million after he leaves. (Bloomberg)

China real estate developers have begun to operate outside Beijing and Shanghai to find unexploited markets and dodge regulations. (Bloomberg)

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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