Media Digest 6/8/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   Bernanke said Europe is committed to keeping the  euro as currency.

Reuters:   Congress has begun the final stage of financial reform legislation.

Reuters:   Apple Inc. (NASDAQ: AAPL) introduced the new iPhone.

Reuters:   Foxconn confirmed that it increased wages for factory workers.Reuters:   China said it would continue with a government-regulated Internet.

Reuters:   Wells Fargo (NYSE: WFC) will begin hiring new employees in its brokerage unit.

WSJ:   The FDIC said Goldman Sachs Group (NYSE: GS) was resisting compliance with the agency’s requests.

WSJ:   Honda Motor (NYSE: HMC) was hit by another strike in China.

WSJ:   Bank of America Corporation (NYSE: BAC) will pay $108 million to settle an FTC suit over actions by Countrywide.

WSJ:   The details of Europe’s financial rescue package have been set.

WSJ:   Marsh & McClennan sold Knoll.

WSJ:   Apple will push its new mobile ad unit to begin aggressively marketing its services.

WSJ:   Obama will allow shallow water drilling.

WSJ:   Walgreen cut its ties with the CVS Caremark drug plan.

WSJ:   Boeing (NYSE: BA) will bid on a new Italian helicopter.

WSJ:   AT&T (NYSE: T) denied it was in talks with Reliance to buy a stake in the Indian company.

WSJ:   Medtronic (NYSE: MDT) will roll out 60 new products.

WSJ:   Chrysler recalled 600,000 vehicles.

WSJ:   The Toys ‘R’ Us IPO will help determine how well KKR gets returns for its investors.

WSJ:   The Agricultural Bank of China will keep its current IPO terms.

WSJ:   Treasury will sell $82 billion in short-term debt.

NYT:   The success of the BP plc (NYSE: BP) oil cap is nearly impossible to assess.

NYT:   As wages rise in China, so will the cost of its exports.

FT:   The executive in charge of the BP clean up says the US government has been slow to help.

FT:   Merkel is pushing 80 billion in budget cuts and the layoffs of 15,000 government workers.

FT:   The management of British Air says it will “wait out” strikers.

FT:   Prudential plc said it would watch AIA which may mean it will make another bid for the American International Group (NYSE: AIG) unit.

Bloomberg:   Bernanke says jobless rate is unlikely to fall quickly.

Bloomberg:   A leading Chinese government researcher says China’s growth may drop below 11%.

Douglas A. McIntyre