Media Digest 7/1/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   California raced to approve a state budget its cutting deficit.

Reuters:   Ten more people may face charges in Madoff case.

Reuters:   Gannett (GCI) is laying off 1,000 more people.

Reuters:   China will delay a web filter for PCs sold in the country.

Reuters:   B of A’s (BAC) asset management unit got low bids.

Reuters:   Monster’s June job index fell.

Reuters:   Facebook employees have a chance to cash in some options setting a value on the business.

Reuters:   Citigroup (C) raised rates on millions of credit cards.

Reuters:   The SEC may tighten executive pay rules.

Reuters:   The FTC faces financial reforms that may cut its power.

WSJ:   Wall St. cut its lobbying spending.

WSJ:   Wal-Mart (WMT) will support the Administration’s goal of proving healthcare to all workers.

WSJ:   The FDIC will make it tougher for private equity firms to buy banks.

WSJ:   Cities are growing at the expense of suburbs.

WSJ:   Charles Haldeman is likely to be the new head of Freddie Mac (FRE).

WSJ:   Stores will be watching back-to-school sales as a sign of consumer sentiment.

WSJ:   Toyota (TM) is building a portfolio of patents around its new hybrid.

WSJ:   Geron will provide stem cells to GE (GE).

WSJ:   China will block imports of US chicken.

WSJ:   Oil companies are rejecting Iraq’s terms for bidding for oil interests.

WSJ:   Companies are awaiting broadband grant rules.

WSJ:   Home prices fell at a slowing .6% rate.

WSJ:   A big spring planting should drop crop prices and help ethanol companies.

WSJ:   The S&P 500 was up 15% in the second quarter.

WSJ:   Markets in India, Turkey, and Argentina did particularly well last quarter.

WSJ:   Commodities rallied last quarter based on an economic rebound.

WSJ:   The market for IPOs still has a long road to recovery.

WSJ:   The CEO of GM says the government is looking for a quick sale of its interest.

WSJ:   Viacom’s (VIA) Paramount may outsource back office jobs.

WSJ:   Chinalco will keep its interest the same in Rio Tinto (RTP).

WSJ:   Amazon (AMZN) cut ties to Hawaii affiliates to avoid collecting sales tax.

WSJ:   Yahoo! (YHOO) shut down one of its video services.

NYTimes:   “A federal advisory panel voted to recommend a ban on Percocet and Vicodin because of their effects on the liver.”

NYTimes:   Banks are fighting a new agency meant to protect the interests of consumers.

NYTimes:   Troubles at Europe’s banks are getting worse.

NYTimes:   Sirius XM (SIRI) is set to see improved sales as the auto industry recovers.

NYTimes:   Japan’s manufacturing index was up slightly for June.

NYTimes:   AIG (AIG) offered its shareholders little hope for a recovery in the value of their stock.

FT:   Morgan Stanley and MUFG will pool $100 billion in an effort to get more of the US corporate lending market.

FT:   The recession is forcing companies to cut back worker’s hours.

FT:   The US is increasing its fight against UBS (UBS) clients.

Bloomberg:   China manufacturing was up for the fourth month helped by the country’s stimulus package.

Bloomberg:   The IMF board set the sale of $150 billion in bonds.

Douglas A. McIntyre