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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