Media Digest 5/2/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, the CEO of Microsoft (MSFT) says that the company is close to its next move in its attempted takeover of Yahoo! (YHOO).

Reuters reports that Wal-Mart (WMT) will use the Wii Fit from Nintendo to boost Mother’s Day sales.

Reuters writes that auto sales dropped 14% in April.

Reuters writes that Exxon (XOM) profits disappointed Wall St. despite the high price of oil.

Reuters writes that Craigslist has accused Ebay (EBAY) of hypocrisy in its suit against the classifieds company.

The Wall Street Journal writes that Microsoft (MSFT) will probably launch a hostile bid for Yahoo! (YHOO).

The Wall Street Journal reports that Sun (JAVA) swung to a loss and will cut about 2,000 jobs.

The Wall Street Journal writes that investors have become skeptical about BHP Billiton’s (BHP) bid for Rio TInto (RTP)

The Wall Street Journal reports that a deal for Google (GOOG) to handle Yahoo!’s search advertising may be close.

The Wall Street Journal writes that job cuts may not be as deep as those in past recessions.

The Wall Street Journal writes that sovereign funds are meeting with the IMF to set guidelines for their investments.

The Wall Street Journal writes that the push for plug-in cars could be hurt by utilities charging more for electricity.

The New York Times reports that big retailers are shutting stores and cutting back expansion.

The FT reports that Apple (AAPL) set a big download deal with major movie studios

According to Bloomberg Warren Buffett may spend $40 billion on investments in companies while other investors are on the sidelines because of the credit crunch.

Douglas A. McIntyre