Media Digest (9/20/2012) Reuters, WSJ, NYT, FT, Bloomberg

Nike Inc. (NYSE: NKE) will buy back $8 billion in shares. (Reuters)

More than 5 million Facebook Inc. (NASDAQ: FB) members are children who have been banned from the social network. (Reuters)

Banks are warned to be concerned about cyber attacks after J.P. Morgan Chase & Co. (NYSE: JPM) and Bank of America Corp. (NYSE: BAC) are hit by hackers. (Reuters)

Sony Corp. (NYSE: SNE) says sales of handheld game products are weak, so the success of the new PS3 is essential to earnings. (Reuters)

HTC launches two phones powered by the Microsoft Corp. (NASDAQ: MSFT) Windows OS. (Reuters)

Bank of America will cut 16,000 jobs this year. (WSJ)

More companies begin to use software to determine which people to hire. (WSJ)

Olympus may get a $640 million loan or investment from Sony. (WSJ)

Existing home sales and housing starts move sharply higher in August. (WSJ)

Investors who anticipate a Moody's downgrade of Spain already have moved money elsewhere. (WSJ)

The CEO of JCPenney Co. Inc. (NYSE: JPC) says he expects the retailer to have a poor second half. (WSJ)

Nasdaq OMX Group Inc. (NASDAQ: NDAQ) says its compensation program for firms that lost money in the Facebook IPO was adequate. (WSJ)

A Harvard Business School teacher says three out of four venture start-ups do not return capital to investors. (WSJ)

Shares in the JAL IPO barely rise. (WSJ)

The European Union will approve the marriage of Universal Music and EMI. (WSJ)

eMarketer says Google Inc. (NASDAQ: GOOG) will pass Facebook in online display market share this year. (WSJ)

Bondholders push Wells Fargo & Co. (NYSE: WFC) and Morgan Stanley (NYSE: MS) to buy back broken loans tied to mortgage-backed instruments. (WSJ)

The new Apple Inc. (NASDAQ: AAPL) iPhone does not run Google Maps. (NYT)

Some experts doubt the approval by India's government to allow companies like Wal-Mart Stores Inc. (NYSE: WMT) into the country will yield profitable results. (NYT)

Two large unions set four-year deals with Verizon Communications Inc. (NYSE: VZ). (NYT)

General Motors Co. (NYSE: GM) once again affirms its plans to turn around European operations. (NYT)

Starbucks Corp. (NASDAQ: SBUX) will release a single-serve coffee machine. (NYT)

Japan's August exports to Europe fall 28%. (FT)

Annual sales of 30-year corporate debt rise above $100 billion for the year. (FT)

Manipulations like the one that affected Libor may go on with similar interest rate systems elsewhere in the world. (Bloomberg)

Douglas A. McIntyre

Filed under: 24/7 Wall St. Wire, Press Digest Tagged: AAPL, BAC, FB, GM, GOOG, JCP, JPM, MS, MSFT, NDAQ, NKE, SBUX, SNE, VZ, WFC, WMT