Media Digest 5/27/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   GM (GM) is close to filing Chapter 11.

Reuters:   A poll of economists says the US recession will end soon followed by modest growth.

Retuers:   The mood of US consumers rose despite falling home prices.

Reuters:   Microsoft (MSFT) will launch a new Zune player later this year.

Reuters:   China tries to make Macau a better bet for casinos than Las Vegas.

Reuters:   Citigroup (C) and Bank of America (BAC) may raise base salaries for investment bankers.

Reuters:   Borders (BGP) posted a narrower loss than Wall St. expected.

Reuters:   A Chinese official said the dollar will not be replaced as the world’s currency.

Reuters:   Opel’s board will decide on a separating from GM (GM).

Reuters:   McDonald’s (MCD) will extend its McCafe franchise in Europe.

Reuters:   Facebook raised $200 million from a Russian firm.

WSJ:   A new deal between the UAW and GM leaves the US government owning close to 70% of the car company.

WSJ:   “Some banks are lobbying the FDIC for permission to bid on the same assets that the banks would put up for sale as part of the government’s Public Private Investment Program.”

WSJ:   The sales of structured products has returned to Wall St.

WSJ:   HP (HPQ) is targeting China’s low-end consumers.

WSJ:   Drug CEOs are joining efforts to bring down healthcare costs.

WSJ:   Take-Two (TTWO) posted a loss and will delay the release of some games.

WSJ:   Intel (INTC) disclosed plans for its high-end Xeon chip.

WSJ:   Money is flooding into the Hong Kong stock and real estate markets despite trouble with the economy.

WSJ:   Deutsche Bank (DB) is positioning itself for better times.

WSJ:   With consumers increasing savings it is hard to see a “V-shaped” recovery.

WSJ:   OPEC has suddenly become happy with speculators raising oil prices.

WSJ:   It may be premature to buy Target (TGT) shares over Wal-Marts’s (WMT).

WSJ:   An old Lazard plan to break up Time Warner (TWX) seems to be a road map for the company’s current plans.

WSJ:   A pan-European agreement for selling online music may be closer.

WSJ:   VW is looking at a new venture in China.

WSJ:   A judge refused to hear a claim from Indiana pension funds that the Chrysler Chapter 11 is not legal.

WSJ:   Nintendo is increasing its reliance on outside video game publishers.

WSJ:   Cable is picking up its pace to sell targeted ads.

NYT:   Forgiveness programs for former students are being cut because of the recession.

NYT:   Big oil is warming to the use of ethanol.

NYT:   Prudential’s (PRU) recent profit came completely from accounting rules.

NYT:   The EU is looking to improve banking regulations.

NYT:   Stocks of retailers surged on consumer optimism.

FT:   GM (GM) will give the UAW a stake of only 17.5%.

FT:   Citigroup (C) will hold onto most of its assets in China and India.

Bloomberg:   China’s bid to challenge VW and Toyota (TM) may be hurt by local politics.

Bloomberg:   A group of economists say the recession in the US will end in Q3.

Douglas A. McIntyre