Media Digest 6/4/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, domestic car sales took a huge dip in May.

Reuters writes that UAL (UAUA) will announce more job cuts and rate cuts.

Reuters reports that Yahoo! (YHOO) has set July 1 for its annual meeting.

Reuters reports that apparel spending dropped in May.

Reuters reports that Lehman (LEH) is seeking capital from overseas.

The Wall Street Journal writes that GM (GM) faces a huge sales slump.

The Wall Street Journal writes that S&P, Moody’s (MCO), and Fitch will change how they charge for ratings services in a settlement with the NY Attorney General’s office.

The Wall Street Journal writes that Motorola (MOT) is close to finding a chief for its handset business, which it will spin-off soon.

The Wall Street Journal writes that Carl Icahn will fire Yahoo!’s CEO if he wins his proxy right for board control.

The Wall Street Journal writes that AMD (AMD) will begin to deliver its new chips for laptops.

The Wall Street Journal writes that Softbank will sell the Apple (AAPL) iPhone in Japan.

The Wall Street Journal writes that Sony (SNE) will allow its PS3 to take advertising sent over the internet.

The Wall Street Journal writes that Boston Scientific (BSX) extended the contract of its CEO.

The Wall Street Journal reports that Time Warner Cable (TWC) and Comcast (CMCSA) will test programs which charge heavy internet users higher rates.

The Wall Street Journal writes that HP (HPQ) has hired the sales chief from Sun (JAVA)

The New York Times writes that the head of the Fed signaled an end to rate reductions.

The New York Time writes that MSN (MSFT) is trying to start a Hollywood site to increase its audience.

The FT writes that European companies had worse losses that American ones in Q1.

Bloomberg writes that credit rate derivatives are indicating the bank credit problems will get worse.

Douglas A. McIntyre