Media Digest (11/15/2011) Reuters, WSJ, FT, Bloomberg

The U.S. Supreme Court will hear arguments about the Obama health care law. (Reuters)

Angela Merkel says Europe may face its greatest crisis since World War II. (Reuters)

Italy’s Monti will discuss what cuts the nation faces when he meets with other senior party officials. (Reuters)

The IMF says there is a danger of asset bubbles in China. (Reuters)

Amazon.com (NASDAQ: AMZN) ships its Kindle Fire early as more competition enters the market. (Reuters)

Congress reaches a compromise to keep the federal government operating until mid-December. (Reuters)

Warren Buffett puts $10.7 billion into IBM (NYSE: IBM) shares. (WSJ)

UBS (NYSE: UBS) names its interim CEO to the position permanently. (WSJ)

Burberry profits rise on demand for luxury goods. (WSJ)

Parts shortages due to floods in Asia and lower demand for mainstream PCs challenge Dell (NASDAQ: DELL). (WSJ)

Italy’s UniCredit posts a large loss. (WSJ)

The Federal Housing Administration’s cash reserves reach dangerous lows. (WSJ)

TransCanada (NYSE: TRP) says it may have a deal with Nebraska to move the route of its Keystone XL pipeline, which would allow the project to go forward. (WSJ)

Companies find it is more difficult to recruit e-commerce executives to run complex internet platforms. (WSJ)

Anadarko (NYSE: APC) raises estimates of production from its Colorado oil fields. (WSJ)

Lowe’s (NYSE: LOW) drops sales estimates as it closes stores. (WSJ)

The new head of JCPenney (NYSE: JCP), recruited from Apple (NASDAQ: AAPL), says he will “reimagine” the chain’s stores. (WSJ)

The Commodity Futures Trading Commission will get less budget money than it requested, which will make it more difficult to implement Dodd-Frank regulations. (WSJ)

China’s demand for copper falls. (WSJ)

Many partners at Goldman Sachs (NYSE: GS) will retire this year. (WSJ)

Data for the third quarter show unexpected economic expansion in Germany and France. (FT)

The yields of Spain’s and Italy’s bonds rise sharply. (FT)

The IMF warns that China’s banks may face trouble if they do not set more flexible exchange rates. (FT)

Volkswagen nears a deal to buy Porsche. (Bloomberg)

Douglas A. McIntyre