Media Digest (2/21/2011) Reuters, WSJ, NYT, FT, Bloomberg

The US federal government could shut down as House Republicans battle the Administration on budget deficit matters (Reuters)

Riots in Libya moved oil higher and Asia markets lower. (Reuters)

Air France-KLM may make a bid for Virgin Air. (The Times)

Global unrest pushed silver to a 21-year high.  (Reuters)

Intel (NASDAQ: INTC) plans to build a $5 billion plant in Arizona by 2013. (Reuters)

Google’s (NASDAQ: GOOG) enterprise business will continue to pressure Microsoft (NASDAQ: MSFT). (Reuters)

McDonald’s (NYSE: MCD) will sell 50% of a joint venture in India to local interest. (Economic Times)

Tata Motors, which makes Jaguar and Rand Rover may set a partnership with Great Wall vehicles in China. (Reuters)

Diago will buy Turkish liquor maker Mey Içki for $2.1 billion. (WSJ)

China social network Renren.com may have a US IPO. (WSJ)

Groupon has set plans to move aggressively into China. (WSJ)

Portugal sovereign debt yields continued to rise as did concern about contagion, increasing fears of further bailouts in the region. (WSJ)

The G20 reached tentative agreement on global capital imbalances but the language of the agreement was vague. (WSJ)

The National Bank of Greece may increase its offer for competitor Alpha Bank. (WSJ)

Huawei dropped it press to get US government approval to buy assets of 3Leaf. (WSJ)

Google (NASDAQ: GOOG) has tried to fight off antitrust charges in Europe. (NYT)

Blogs are in the process of being replaced by Facebook and Twitter. (NYT)

Greece has had trouble cutting into tax evasion problems. (NYT)

Moody’s expects that there will be severe trouble ahead for US municipal bonds. (FT)

Sun flares could disrupt global communications to the tune of $2 trillion, according to the American Association for the Advancement of Science. (FT)

China could set bank plans meant to help them weather a credit crisis. (Bloomberg)

Douglas A. McIntyre