Media Digest 6/13/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Pfizer (PFE) may make a counter-bid for Ranbaxy Laboratories, the generic drug-maker.

Reuters reports that deal talks between Yahoo! (YHOO) and Microsoft (MSFT) are dead. Yahoo! will do an advertising deal with Google (GOOG).

Reuters writes that Anheuser-Busch (BUD) and Modelo are in merger talks.

Reuters reports that Exxon (XOM) will get out of the US gas retail business.

Reuters reports that China Investment Corp is turning its back on countries that are suspicious of sovereign wealth funds.

Reuters reports that US Air (LCC) will cut 1,700 jobs and some of its flight capacity.

The Wall Street Journal writes that AIG’s (AIG) financial-products business has become the focus of government probes.

The Wall Street Journal reports that Lehman (LEH) pushed out its CFO and COO.

The Wall Street Journal writes that government tax rebates helped retail sales.

The Wall Street Journal writes that Qualcomm (QCOM) has raised it forecasts.

The New York Times writes that companies which can’t get loans from banks are turning to hedge funds.

The New York Times writes that the FCC has put together a plan to stop high fees consumers face for cancelling cell phone plans.

The FT writes that InBev has promised to keep the Anheuser-Busch brands in St. Louis if it takes over the company.

The FT writes that Ford (F) has called for US help in building electric cars.

Bloomberg writes that European cars sales fell almost 8% last month with Toyota (TM) and Ford off sharply.

Douglas A. McIntyre