Media Digest 6/2/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Global consumer confidence is improving.

Reuters:   GM (GM) filed for Chapter 11 and expects a quick exit.

Reuters:   Most US retailers probably had sales drop in May.

Reuters:   China gave Geithner backing for the US programs to stimulate the economy.

Reuters:   The DJIA was shaken up as GM (GM) and Citigroup (C) were taken out and Travelers and  Cisco (CSCO) were added.

Reuters:   Applied Materials (AMAT) sees more failures of semiconductor companies.

Reuters:   JPMorgan (JPM) and American Express (AXP) will sells shares to pay back TARP funds.

Reuters:   Toshiba expects it sales in the US to move up due to improvements in the economy.

Reuters:   Target (TGT) will partner with DailyCandy.com.

Reuters:   Interest in a government program to buy toxic assets is disappearing.

Reuters:   Citigroup (C) is halting severance payments to some executives who left.

WSJ:   EMC (EMC) made a big to buy Data Domain.

WSJ:   A committee backed the BOE in its oversight role.

WSJ:   Micron (MU) will spin-off its imaging unit.

WSJ:   China is probing US steel imports.

WSJ:   News Corp (NWS) may bring in an executive to serve as its No.2 manager.

WSJ:   The Supreme Court will consider whether business method patents should be expanded.

WSJ:   A Gulf oil billionaire is selling his stake in Barclays (BCS).

WSJ:   Americans are saving more money.

WSJ:   Analysts will find out if car buyers are bothered by Chapter 11 when Chrysler reports May numbers.

WSJ:   Treasury yields soared on concerns about the economy fading.

WSJ:   An accounting rule could hurt bank earnings this quarter.

WSJ:   Liberty Media is making money on its investment in Sirius XM (SIRI).

WSJ:   AMD (AMD) launched its new line of server chips.

NYT:   The UAW faces a balancing act as a GM (GM) shareholder.

NYT:   Investors have offered a new plan to take Delphi out of Chapter 11.

NYT:   A comprehensive plan to overhaul the US financial industry will go to Congress this summer.

NYT:   The FDA may reveal more data on its actions.

NYT:   Money sent home from Mexican workers in the US fell sharply.

NYT:   Interest rate cuts are starting to improve the global economy.

FT:   China backed the US dollar as the reserve currency.

FT:   CCB revealed its aversion to stakes in western banks.

Bloomberg:   Goldman Sachs (GS) will raise $1.9 billion by selling its ICBC shares.

Douglas A. McIntyre