Media Digest (4/29/2010) Reuters, WSJ, NYTimes, FT. Bloomberg

Reuters:   Hewlett-Packard (NYSE: HPQ) will gamble on the smartphone industry with its buyout of Palm (NADSAQ: PALM)

Reuters:   The oil spill from a BP plc (NYSE: BP) rig is close to shore.

Reuters:   Obama picked Janet Yellen to be the vice chairman of the Fed.

Reuters:   Oil held steady above $83.

Reuters:   Apple (NASDAQ: AAPL) may charge $1 million to advertise on its mobile phone.

Reuters:   Continental (NYSE: CAL) and UAL (NASDAQ: UAUA) met again to discuss a merger.

NYT:   Oil leaking from a Gulf platform may be coming at 5,000 barrels and not the 1,000 estimated previously.

NYT:   Republicans will allows a debate about the financial bill on the Senate floor.

NYT:   Goldman Sachs Group (NYSE; GS) and its lobbyists are being ignored in DC.

NYT:   The IMF promised more aid for Greece.

NYT:   German exposure to Greek debt is $37 billion.

NYT:   Doctors often must do hours of uncompensated follow-up work.

NYT;   A wind farm off Cape Cod was approved.

NYT:   Toyota (NYSE: TM) announced another recall.

WSJ:   The leaking well in the Gulf did not have a remote shut-off guard.

WSJ:   Contagion fear hits Spain

WSJ:   Europeans are investigating rating firms because they may have contributed to the credit crisis.

WSJ:   HTC made a deal to use some Microsoft (NASDAQ: MSFT) patents.

WSJ:   Pennsylvania utility PPL is acquiring the regulated U.S. business of Germany’s E.ON for $6.7 billion in cash,

WSJ:   Exxon Mobil’s (NYSE: XOM) is set for a rally.

WSJ:   The former head of DuPont will become the chair at Bank of America (NYSE: BAC).

FT:   Basis Yield Alpha Fund, a hedge fund, is seeking compensation from Goldman for CDO losses.

FT:   CDO fees went to credit rating agencies despite failures of their ratings.

FT:   The Fed says that the economy is strengthening.

FT:   US officials set the oil spill on fire.

Bloomberg:   Elevation Partners made a 5% return on Palm

Bloomberg:   The IMF says that Asia may have bubbles in certain capital markets.

Bloomberg:   Baidu’s (NASDAQ: BIDU) profits soared.

Douglas A. McIntyre