Media Digest (2/18/2011) Reuters, WSJ, NYT, FT, Bloomberg

The head of the Bank of Japan said that easing by the G20 central banks was necessary even though it may be causing inflation in the emerging world (Reuters)

The head of Time Inc was pushed out by Time Warner (NYSE: TWX) management (Reuters)

The government is investigating whether mutual funds have inflated the value of municipal bonds (WSJ)

Steve Jobs,CEO of Apple (NASDAQ: AAPL) met with President Obama after media reports about his ill health (Reuters)

Steve Elop, head of Nokia (NYSE: NOK), said the handset firm’s deal with Microsoft (NASDAQ: MSFT) will be made final in two months (Reuters)

The House of Representatives voted against FCC internet rules (Reuters)

A Cumulus buyout of Citadel may be concluded after a higher offer was made (Reuters)

Foreign banks in the US could restructure themselves to dodge some previsions of Dodd-Frank (WSJ)

The federal government is examining the terms of Apple’s new online newsstand with an eye toward antitrust activity (WSJ)

A small group of VCs with ownership of online consumer sites have been able to raise more money, leaving the balance of the industry behind. (WSJ)

The percentage of homeowners with delinquent mortgage fell in the last quarter (WSJ)

Social game site Zynga will raise $500 million (WSJ)

New smartphones have set more features which involve the use of social media (WSJ)

China took the US to task for its review of deals for purchase of American assets (WSJ)

A new government map of US broadband distribution shows that many people who might use broadband in rural areas cannot get it (WSJ)

Boehner said sharp cuts to the US budget must come this year (WSJ)

A federal judge order the Administration to issue permits on five deepwater drilling projects within 30 days (WSJ)

China said the flow of “hot money” rose significantly last year (WSJ)

The WTO has decided that China cannot set limits on the exports of scarce metals (WSJ)

Hackers, probably from China, targeted the Canadian treasury (WSJ)

Johnson & Johnson (NYSE: JNJ) has challenged regulators on their rejection of a medical device (WSJ)

The Philadelphia manufacturing index rose sharply, a sign the economy has continued to recover (WSJ)

Illinois hopes to raise $3.7 billion for pension fund contributions which will balloon the state’s debt load (NYT)

The Federal Reserve will strengthen its oversight of financial firms as it plans to prevent another credit crisis (NYT)

The cost to manage the Madoff aftermath is $1.3 billion. (FT)

JPMorgan (NYSE: JPM) CEO Jamie Dimon made $17 million last year (FT)

Cotton prices are up 45% this year as mills try to increase capacity (FT)

Airbus broke Boeing’s (NYSE: BA) hold on the Japan market with a large order (Bloomberg)

China’s car sales were up only 16% in January after government incentives ended (Bloomberg)

Home prices in China rose in 68 of 70 cities measured based on January numbers (Bloomberg)

Douglas A .  McIntyre