According to Reuters, merger talks between United (UAUA) and US Air (LCC) has been halted.

Reuters reports that a US oil probe is focusing on price manipulation.

Reuters writes that April insured mortgage defaults rose.

Reuters reports that Ford (F) is preparing white collar lay-offs.

Reuters writes that Dell (DELL) is targeting two-third of its sales outside the US in five years.

Reuters writes that gas from coal may be supply significant energy in Asia.

Reuters writes that consumer sentiment stayed stuck at a 28-year low in late May.

The Wall Street Journal reports that the Fed’s New York chief faces criticism over his role in the Bear Stearns rescue.

The Wall Street Journal writes that Ford (F) faces big problems in its credit unit.

The Wall Street Journal reports that falling sales pushed Sears (SHLD) to a loss.

The Wall Street Journal writes that clicks on ads at Google (GOOG) are rising while dropping at rivals.

The Wall Street Journal writes that pension funds defended their investment in commodities.

The Wall Street Journal writes that 19,000 employees are leaving GM, mostly through buy-outs.

The New York Times writes that rising costs are slowing mining and development of clean coal.

The New York Times writes that the US will be faulted by the US for a policy to push biofuels and drive up corn prices.

The New York Times reports that US policy makers are pushing for more regulation of the energy markets.

The FT writes that more US banks are likely to fail due to rising bad loans.

Bloomberg writes that Nokia’s (NOK) next big push will be into Africa.

Douglas A. NOMcIntyre

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