Media Digest 6/28/2008 (MBI)(SI)(LEH)(MER)(BUD)

According to Reuters, the Anheuser-Busch (BUD) board is under pressure to justify what it did not take InBev’s buy-out offer.

Reuters writes that overseas money is reluctant to invest in US car companies.

Reuters reports that consumer spending moved up as people got federal rebate checks.

Reuters reports that Lehman (LEH) says Merrill Lynch (MER) may write-down $5.4 million in Q2.

Reuters reports that Moody’s is likely to cut Morgan Stanley’s (MS) credit rating.

The Wall Street Journal reports that the Dow has hit bear market territory.

The Wall Street Journal writes that Siemens (SI) will cut over 17,000 jobs.

The Wall Street Journal reports that Anheuser-Busch will lay-off 1,000 people. raise prices, and buy-back more shares.

The Wall Street Journal writes that handset company Sony-Ericsson warned that its business was doing poorly.

The Wall Street Journal writes that MBIA (MBI) is selling munis to raise cash.

The New York Times reports that venture investors had an unusually poor quarter.

The FT writes that Merrill Lynch is considering selling its stakes in Blackrock and Bloomberg in the hope of raising $15 billion.

Douglas A. McIntyre