Media Digest (5/18/2010) Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   The US is going to probe the causes of the spill in the Gulf.

Reuters:   Blackstone is dropping its bid for Fidelity National.

Reuters:   The US and Ireland set a new fly zone to get around volcanic ash.

Reuters:   Euro ministers will set details of an anti-contagion plan.

Reuters:   Oil hit a five-month low.

Reuters:   The euro continued to weaken.

Reuters:   Google Inc. (NASDAQ: GOOG) faces a probe over its data collection practices.

Reuters:   Macarthur rejected a $3.3 billion takeover bid from Peacock.

Reuters:   Lions Gate may negotiate with raider Icahn.

WSJ:   Oil companies have set ways to drill deeper wells but have not established safety plans.

WSJ:   The “flash crash” has many of the elements of the 1987 drop.

WSJ:   The FDIC is taking on millions of worthless bonds as it closes banks.

WSJ:   Boeing (NYSE: BA) found another flaw in the design of the 787 Dreamliner.

WSJ:   Some people who enter the mortgage modification program deplete their savings trying to make payments.

WSJ:   GM reported its first profitable quarter since 2007.

WSJ:   MySpace has simplified its privacy settings.

WSJ:   Samsung will spend over $15 billion on new factories.

WSJ:   GM’s Volt will use the Android OS.

WSJ:   The new health insurance program will hurt salespeople who market the products.

WSJ:   Google is marketing its services in Africa.

WSJ:   The Continental (NYSE: CAL) deal with UAL (NASDAQ: UAUA) faces regulatory hurdles.

WSJ:   The FDA is widening its probe of Johnson & Johnson (NYSE: JNJ).

WSJ:   Anshan Iron of China will begin to invest in US steel mills.

WSJ:   The ECB bought $20  billion in bonds to help the region’s paper.

WSJ:   A deflation spectre will keep a cap on interest rates.

WSJ:   China was a net buyer of US securities in the first quarter.

NYT:   The Senate voted to make sure credit rating companies supply data to borrowers.

NYT:   Europe’s debt may have a profound impact on China.

NYT:   Europe is closer to voting to restrict hedge fund actions.

NYT:   British Air won a court case to block strikes.

FT:   Problems with the Eurozone finances drove investors to UK and UK debt.

FT:   Japan will launch a solar-powered space craft.

Bloomberg:   Vodafone (NYSE:VOD) had an increase in operating profit.

Bloomberg:   Google will launch an internet TV product called SmartTV.

Douglas A. McIntyre