Reuters:   Fiat closed its deal for control of Chrysler.

Reuters:   California may be hit by an economic “meltdown.”

Reuters:   May foreclosures were third highest month ever recorded.

Reuters:   The US named a “pay czar” to track financial compensation.

Reuters:   May retail sales are forecast to be up .5% due to gas.

Reuters:   The US may crack down on derivatives trading.

Reuters:   China is constantly improving its case to take a lead in world economy.

Reuters:   The Fed Beige Book said the economy is still weak but is showing some signs of improvement.

Reuters:   E-mails show Fed pressed Bank of America (BAC) to close the Merrill Lynch deal.

Reuters:   Palm (PALM) named a new CEO within days of the launch of the Pre.

WSJ:   An rise in interest rates is clouding the recovery.

WSJ:   The FAA is proposing new safety changes.

WSJ:   Mutual funds say net buying occurred for the 12th week in a row.

WSJ:   The SEC is fighting for more regulatory power.

WSJ:   The Fed earned $2.7 billion last quarter.

WSJ:   China’s exports dropped in May.

WSJ:   Dell (DELL) is working on increasing acquisitions to diversity its revenue.

WSJ:   Brazil and Russia are selling US Treasuries.

WSJ:   GM is pulling the plug on one of its hybrid models.

WSJ:   A judge backed an auction for Delphi.

WSJ:   Ad spending fell 14% in the first quarter.

WSJ:   Sprint (S) is considering a joint venture with Level 3 (LVLT).

WSJ:   The US Chamber of Congress will spend $100 million to fight some of the Obama business agenda.

WSJ:   Sales of Treasuries are hurting stock prices as the 10-year yield is moving closer to 4%.

WSJ:   The increase in the stock market in India is causing more companies to raise cash.

WSJ:   Petrobras was downgraded by S&P.

WSJ:   Blackrock (BLK) is about to become the No.1 money management firm.

WSJ:   The rise in oil is helping margins at Exxon (XOM).

WSJ:   Many banks and central banks are not prepared to change policies because of concerns about the recovery.

WSJ:   Volvo has potential Chinese buyers.

WSJ:   The government stands to profit from warrants it received with loans from the TARP fund.

WSJ:   The appointment of a new CEO at P&G (PG) is sending ripples through the ranks.

WSJ:   Home Depot (HD) forecast a smaller earnings drop.

WSJ:   The New York Times (NYT) will try to sell The Boston Globe.

WSJ:   News Corp (NWS) may sell The Weekly Standard.

NYT:   The American Medical Association opposes plans for public healthcare.

NYT:   The Treasury will set executive pay at AIG (AIG), Citigroup (C), Bank of Americ (BAC), GM, and Chrysler.

NYT:   China is stock piling commodities.

NYT:   Ford (F) got a lot of money from the upgrade of the federal car fleets.

FT:   A surge in US bond yield is sparking concern at the Treasury.

FT:   GE (GE) is pressing for a greater presence in the Middle East.

FT:   There are more concerns that the recovery will be hurt by oil prices.

Bloomberg:   Hedge funds are riding a resurgence in convertibles.

Bloomberg:   China investment in fixed assets rose 33% in part to combat its export slump.

Douglas A. McIntyre

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