Media Digest 6/12/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:  Baclays (BCS) sold BCI to Blackrock (BLK) for $13.3 billion

Reuters:   WHO declared a flu epidemic

Reuters:   Congress bash Fed, Treasury, and B of A (BAC) on Merrill

Reuters:   US is near tighter control of tobacco by FDA.

Reuters:   New research shows mortgage delinquencies have bottomed

Reuters:   World Bank sees a steeper global economy contraction.

Reuters:   Dell (DELL) is using Twitter to improve sales.

Reuters:   Retail sales and joblessness figures caused optimism.

Reuters:   TARP repayments will start next week.

Reuters:   The US killed the Northrop Grumman (NOC) missile defense program.

Reuters:   Australia says it sees advantages to the Rio Tinto (RTP) deal with BHP Billiton (BHP).

Reuters:   AIG (AIG) will use its winnings from a trial to pay back taxpayers.

Reuters:   US airlines plan further capacity cuts. (DAL)(CAL)(UAUA)(LUV)(LCC)(AMR)

Reuters:   Yahoo! (YHOO hired a CFO from Altera.

WSJ:   The Fed is unlikely to increase its bond repurchase programs.

WSJ:   The IRS may tax the use of company-issued mobile phones.

WSJ:   Microsoft (MSFT) will drop its Windows browser in Europe for antitrust reasons.

WSJ:   GM is close to selling Saab

WSJ:   The IMF and World Bank differ on economic outlooks.

WSJ:   Exxon (XOM) joined a group building at TransCanada pipeline.

WSJ:   Ebay (EBAY) sees stability in the market.

WSJ:   AOL (TWX) bought small local online media companies.

WSJ:   Long bond sales helped stocks.

WSJ:   Mortgage rates climbed passed 5.5%.

WSJ:   Glaxo (GSK) is at loggerheads with Russia over HIV drugs.

NYT:   The US recovery could happen faster than Europe’s.

NYT:   Some experts fear China is too dependent on domestic investments.

NYT:   American’s net worth dropped by $1.33 trillion in the first quarter.

FT:   Boeing (BAC) trimmed its delivered output forecast.

FT:   Funding cuts threatens world food aid.

Bloomberg:   New lending in China doubled.

Bloomberg:   Hedge funds posted large gains due to the stock rally.

Douglas A. McIntyre