Media Digest (9/17/2012) Reuters, WSJ, NYT, FT, Bloomberg

A government investigation into J.P. Morgan Chase & Co. (NYSE: JPM) focuses on whether its monitoring of illicit money transactions was adequate. (Reuters)

The U.S. will initiate a case at the WTO against China for government support of its car industry. (Reuters)

The Treasury opposes a General Motors Co. (NYSE: GM) plan for it to sell some of its shares to the auto company because of the loss that would represent. (WSJ)

Sony Corp. (NYSE: SNE) and troubled Olympus will set a joint venture that will help the flagging firm. (Reuters)

Exchanges that create products catering to high-speed traders come under government scrutiny. (WSJ)

Hewlett-Packard Co. (NYSE: HPQ) will create "better designed" PCs to lift sales. (WSJ)

The Public Company Accounting Oversight Board's 2011 inspection reports shows that major audit firms still do not do their jobs well. (WSJ)

The Canadian Auto Workers will focus their first round of labor negotiations on Ford Motor Co. (NYSE: F). (WSJ)

Acer begins to push aggressively into the smartphone market. (WSJ)

Investment firm Starboard Value will say it owns a 13.3% piece of Office Depot Inc. (NYSE: ODP) (WSJ)

An increase in factory worker wages in China may help Mexico gain back some manufacturing jobs. (WSJ)

Huge protests and other voter resistance may undercut Spain's ability to increase austerity programs. (WSJ)

The Graduate Management Admission Council reports applications for MBAs fell again this year. (WSJ)

Twitter activity has affected the plots of some TV shows. (WSJ)

Chinese purchases of U.S. cotton have kept the market high but may taper off. (WSJ)

Earnings estimates for the third quarter show that figures may fall for the first time in three years. (NYT)

Delays in mortgage processing may blunt the effect of QE3 on mortgage securities. (FT)

BAE may have to agree to U.S. security measures about some military data to get approval of a merger with EADS. (FT)

Chinese firm CCB has $15 billion to buy Europe-based banks. (FT)

European governments continue to fight over provisions for bailout facilities. (Bloomberg)

Douglas A. McIntyre

Filed under: 24/7 Wall St. Wire, Media Tagged: F, GM, HPQ, JPM, ODP, SNE