Media Digest 5/9/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, AIG (AIG) lost $7.8  billion in the last quarter and will have to raise money.

Reuters reports that Google says it will have revenue enhancing products for YouTube soon.

Reuters writes that the head of China’s new sovereign fund see opportunty due to global financial turmoil.

The Wall Street Journal says that the US may have to put trade sanctions on Venezuela, a huge oil producer, because of its ties to Columbian rebels.

The Wall Street Journal says oil and food prices are being driven by fundamentals of supply and not speculation.

The Wall Street Journal writes that United (UAUA) got waivers on some debt covenants.

The Wall Street Journal reports that Microsoft (MSFT) will not renew its bid for Yahoo! (YHOO)

The Wall Street Journal writes that Wachovia’s (WB) CEO will no longer also be chairman.

The Wall Street Journal writes that Nasdaq’s net income was up six-fold.

The Wall Street Journal reports that McDonald’s (MCD) reported strong same-store sales.

The Wall Street Journal writes that RealNetworks (RNWK) will spin-off its video game division.

The New York Times writes that Citigroup (C) has started selling weak assets.

The New York Times writes that GM (GM) will pay $200 million to settle a suppliers strike.

The FT writes that Citigroup may sell up to $400 million in assets.

The FT writes that the IMF says global inflation will be caused by rising food and fuel cost.

Bloomberg writes that Boeing (BA) unions may delay the 787 to get negotiating leverage.

Bloomberg reports that oil hit $124 on concerns about summer demand.

Douglas A. McIntyre