24/7 Wall St. Daily Market Roundup
Each day, 24/7 Wall St. editors cover the news, identifying important events and market-moving stories.
The following are the highlights for our Media Digest 08/12/2010 Reuters, WSJ, New York Times, Financial Times and Bloomberg:
- Reuters: India officials met over a decision about whether to ban certain services of the Research In Motion (NYSE: RIMM) BlackBerry.
- Reuters: GM put together a $5 billion bank facility and will probably file for an IPO late this week.
- Reuters: Cisco (NYSE: CSCO) said the economy was uncertain and missed revenue estimates.
- Reuters: The US bailouts helped foreign banks which should have gotten some money from their own governments, the Congressional Oversight Panel said.
- Reuters: Japan says that Apple Inc (NASDAQ: AAPL) has taken care of overheating iPod problems.
- Reuters: Research from the Pew Internet & American Life Project says many Americans do not care about a government program to create a faster internet.
- Reuters: IBM (NYSE: IBM) settled disagreements with Oracle (NASDAQ: ORCL) about executives hired by one firm from the other.
- Reuters: Germany will monitor the Google Inc. NASDAQ: GOOG) “Street View.”
- Reuters: American International Group (NYSE: AIG) has begun to talk to investors about an AIA IPO.
- Reuters: Fortress will buy most of AIG’s consumer finance unit.
- Reuters: Visteon is in talks to get financing to exit Chapter 11.
- New York Times: the American Bankers Association says lenders wrote off as uncollectible $11.1 billion in home equity loans and $19.9 billion in home equity lines of credit in 2009, more than they wrote off on primary mortgages.
- New York Times: The US will give more aid to jobless homeowners.
- Bloomberg: GM will try to sell $16 billion in stock.
- Bloomberg: The Chinese are hiding $1.1 trillion in wealth.