Media Digest 1/27/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, American Express (AXP) earnings dropped 72% but still beat expectations.

Reuters writes that Geithner was confirmed to be Treasury Secretary.

Reuters reports that people lost confidence in business globally in 2008.

Reuters reports that AIG’s (AIG) sales of ILFC is drawing sovereign fund money.

Reuters reports that a New York City financier was arrested for supporting at $400 million scam.

Reuters reports that Thain said he hid nothing from Bank of America (BAC).

Reuters reports that Chrysler has targeted concessions from the UAW and suppliers.

Reuters reports that Japan is setting up a system to help troubled companies.

Reuters reports that home sales picked up even as  jobs losses deepened.

Reuters reports that Citigroup (C) will buy a $50 million plane.

Reuters reports that the CBO says the Obama package falls short of his goals.

Reuters reports that Fannie Mae (FNM) and Freddie Mac (FRE) may tap the government for $51 billion.

Reuters reports that Pfizer (PFE) bought Wyeth (WYE) for $68 billion.

The Wall Street Journal writes that bank lending for the Pfizer deal does not mean banks will loan money for M&A again.

The Wall Street Journal reports that Sprint (S) will cut jobs and outsource some services.

The Wall Street Journal reports that Home Depot (HD) will cut jobs and get rid of one business.

The Wall Street Journal reports that retail sales are expected to drop.

The Wall Street Journal reports that Nomura lost $3.8 billion.

The wall Street Journal reports that big Middle East funds are scaling back.

The Wall Street Journal reports that college endowments are falling.

The Wall Street Journal reports that Caterpillar (CAT) will cut 20,000 jobs.

The Wall Street Journal reports that Siemens (SI) posted a loss.

The Wall Street Journal reports that TI (TXN) cut 10% of its workers.

The Wall Street Journal reports that IBM (IBM) cut almost 3,000 jobs.

The Wall Street Journal reports that Smurfit filed for Chapter 11.

The Wall Street Journal reports that the net at Netflix (NFLX) moved up 45%.

The Wall Street Journal reports that companies in emerging market can’t find new funds.

The Wall Street Journal reports that Treasuries are rapidly becoming attractive again.

The Wall Street Journal reports that the gap between corporate and government bonds is contracting but not as much as policy markets would like.

The Wall Street Journal reports that Rohm & Haas  has sued Dow Chemical (DOW) to get it to complete its buyout.

The Wall Street Journal reports that McDonald’s (MCD) will continue to expand.

The Wall Street Journal reports that profits jumped at VMWare (VMW), but it posted a cloudy outlook.

The New York Times reports that Pfizer wants the Wyeth drug line.

The New York Times reports that Detroit called a new emissions policy too strict.

The FT reports that the World Bank and IMF called for a reform to global financial systems

Bloomberg reports that Siemens (SI) first quarter profit rose more than expected.

Douglas A. McIntyre