Media Digest 5/7/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, GM (GM) is expected to post huge losses ahead of decisions about whether it will go into Chapter 11.

Reuters reports that Obama is seeking budget savings due to a widening deficit.

Reuters reports that Microsoft’s (MSFT) CEO still sees a chance of working with Yahoo! (YHOO).

Reuters reports that Bank of America (BAC), Well Fargo (WFC), and Citigroup (C) will have to raise money according to “stress test” data.

Reuters reports that GM (GM) may own a stake in Fiat in exchange for its Latin American and Europe operations.

Reuters reports that Societe Generale reported an unexpected loss.

Reuters reports that Barclays (BCS) earnings were up 15%.

Reuters writes that News Corp (NWS) posted a sharp drop in earnings but said that it sees a bottom in the economy.

Reuters reports that Cisco (CSCO) sees the economy stabilizing after releasing earnings that beat forecasts.

The Wall Street Journal writes that bidders are lining up for Detroit’s auto brands and dealer networks.

The Wall Street Journal reports that some institutional investors are beginning to bet on Treasuries.

The Wall Street Journal reports that AB InBev will sell Oriental Brewery.

The Wall Street Journal writes that ADP indicated at job losses are slowing.

The Wall Street Journal reports that Dell (DELL) may use Google (GOOG) Android in some of its PCs.

The Wall Street Journal reports that Airbus has cut its super jumbo jet output.

The Wall Street Journal reports that Amazon’s (AMZN) new Kindle will increase demand for the device.

The Wall Street Journal reports that Nintendo posted a record profit.

The Wall Street Journal reports that the Treasury may use preferred shares in banks to improve their balance sheets.

The Wall Street Journal reports that the SEC has put credit default swaps traders that they are on notice about their business practices.

The Wall Street Journal reports that results at Blackstone (BX) and Fortis are improving.

The Wall Street Journal reports that AIG’s (AIG) loss may hit $5 billion.

The Wall Street Journal reports that a House panel will look at the Bank of America (BAC)  buyout of Merrill Lynch.

The Wall Street Journal reports that BMW posted a loss as unit sales fell 21%.

The Wall Street Journal reports that GE (GE) will launch a new healthcare initiative in Washington.

The Wall Street Journal reports that The Boston Globe, owned by The New York Times (NYT) is not out of the woods despite union givebacks.

The New York Times reports that GM (GM) may ask for a stake in Fiat as part of a deal to sell its Europe operations.

The New York Times reports that Obama will look for $17 billion in budget cuts.

The FT reports that Porsche and VW have agreed to merge.

The FT reports that the release of a new version of Windows has attracted a negative response from some regulators.

Bloomberg reports that Unilever’s profits dropped 45% as shoppers looked for cheaper brands.

Douglas A. McIntyre