Media Digest (11/3/2011) Reuters, WSJ, NYTimes, FT, Bloomberg

The Federal Reserve cuts its forecast for employment and GDP growth. (Reuters)

The expanding Greek debt problem will trouble the G20 summit. (Reuters)

Groupon’s IPO may be a dollar higher than its $16 to $18 price range. (Reuters)

BNP Paribas takes at 2 billion euro write-down on Greek debt. (Reuters)

ING (NYSE: ING) to cut 2,700 people because of trouble with its Greece sovereign paper. (Reuters)

Apple (NASDAQ: AAPL) will offer a software update to help extend battery life in the iPhone 4S. (Reuters)

Amazon.com (NASDAQ: AMZN) starts a digital library book service. (Reuters)

The EU warns Greece that its place in the union could be threatened unless it immediately agrees to new debt provisions. (WSJ)

A judge allows Sprint-Nextel (NYSE: S) to challenge the AT&T (NYSE: T) deal to buy T-Mobile. (WSJ)

Aol (NYSE: AOL) posts a loss despite gains in ad revenue. (WSJ)

Qualcomm’s (NASDAQ: QCOM) net income rises sharply on sales of cellphones that use its products. (WSJ)

Economic data show that the eurozone has moved toward an economic downturn. (WSJ)

Drug makers try to reverse regulations that do not allow them to market pharma products for off-label use. (WSJ)

The head of Lexus in the U.S. says car sales will be weak this year. (WSJ)

News Corp. (NYSE: NWS) revenue rises because of improvements in it cable properties. (WSJ)

A study from Citizens for Tax Justice shows large companies still pay little in taxes. (NYT)

The EU suspends 8 billion euros in Greek aid while the future of austerity in the nation is tested. (FT)

Greece’s membership in the eurozone will be put to a vote by members. (Bloomberg)

Growth of China’s nonmanufacturing sector slows.

Douglas A. McIntyre