Media Digest 10/17/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, policy makers around the world are trying to deal with the fact that the economy is moving into a deep recession.

Reuters writes that Google (GOOG) exceeded forecasts and its shares rose.

Reuters reports that banks borrowed $438 billion a day from the Fed last week, a record.

Reuters reports that many executives saw conditions weakening before the crash.

Reuters reports that IBM (IBM) had impressive earnings and said it was looking to emerging markets for growth.

Reuters reports that AIG (AIG) asset sales are not going well.

Reuters writes that Cerberus is in talks with GM (GM) and Renault about the future of Chrysler.

Reuters reports that Microsoft (MSFT) said an ad deal with Yahoo! (YHOO) may still make sense.

Reuters writes that a weakening US jobs market points to a recession.

Reuters writes that large institutional investors are slowly pushing up their stock purchases.

The Wall Street Journal reports that lenders to GM (GM) and Chrysler are eager for a merger.

The Wall Street Journal reports that the door is open for the Fed to cut rates further.

The Wall Street Journal reports that the financial crisis may diminish the US sway over the international economy.

The Wall Street Journal reports that more hedge funds are being forced to liquidate positions to handle redemptions.

The Wall Street Journal reports that AIG (AIG) and NY Attorney General Cuomo have come to an agreement about investigating compensation at the insurance company.

The Wall Street Journal reports that Nike (NKE) says that Wal-Mart (WMT) copied it shoes.

The Wall Street Journal reports that fuel hedges hurt some airline results

The Wall Street Journal reports that the economic crisis is dropping the price of oil.

The Wall Street Journal reports that housing starts were probably lower in September.

The Wall Street Journal reports that consumer sentiment is likely to take a hit.

The Wall Street Journal reports that Schlumberger (SLB) earnings may take a hit on oil prices.

The Wall Street Journal reports that some mutual funds hung on to financial shares and were hurt.

The Wall Street Journal reports that Toyota (TM) will push "no interest" loans.

The Wall Street Journal reports that AMD (AMD) narrowed its loss.

The Wall Street Journal writes that Medtronic’s (MDT) new stent was found not to be effective.

The New York Times reports that banks are likely to hand on to bailout money and not improve lending.

The New York Times writes that Southwest (LUV) had its first loss in 17 years.

The FT reports that the IMF is ready to stabilize Ukraine

The FT reports that hedge funds are in the grip of a vicious selling cycle.

Douglas A. McIntyre