Media Digest 6/29/2010 Reuters, WSJ, NYTimes, FT Bloomberg

GReuters:   Thick oil hit the Mississippi coast as a large storm moved toward the Gulf.

Reuters:   BP plc’s (NYSE: BP) oil spill costs hit $100 million a day.

Reuters:   G20 leaders decided not to make positive comments about China’s move on the yuan.

Reuters:   G20 plans to reduce national deficits will not calm the markets.

Reuters:   G20 nations were split on what will help the recovery–stimulus or cuts.Reuters:   Gold has moved back toward a record high.

Reuters:   Senator Schumer urged the Fed to oversee bank fee charges.

Reuters:   Germany said Apple Inc. (NASDAQ: AAPL) must improve data transparency.

Reuters:   Salesforce.com (NYSE: CRM) sued Microsoft (NASDAQ: MSFT) over alleged patent violations

Reuters:   China’s Talkan Life Insurance said Goldman Sachs Group is close to buying its AXA stake.

WSJ:   G20 nations say they will cut national deficits in half by 2013.

WSJ:  The  financial overhaul bill may save homebuyers from predatory practices but may also limit their choices.

WSJ:   Q2 earnings may show that investors have become too bearish.

WSJ:   Germany’s external trade surplus is under attack.

WSJ:   The SEC lost two critical prosecutions, hurting its credibility.

WSJ:   UK banks are trying to lessen the impact of a new bank tax.

WSJ:   Chinese investors are moving into the US stock market.

WSJ:   Home Depot’s financial review could show if consumer spending has improved.

WSJ:   Pakistan will monitor Google Inc. (NASDAQ: GOOG) for anti-Islamic content.

WSJ:   BP said it captured 22,000 barrels of oil Saturday.  Relief wells, however, will not be finished until August.

WSJ:   “Toy Story 3” was the No.1 box office hit for the weekend.

NYT:   Banks avoided new global regulations at the G20.

NYT:  Obama is trying to expand broadband availability for commercial use.

FT:   State budgets could cause another fiscal crisis.

FT:   US corporate cash on balance sheets hit a record.

Bloomberg:   US companies are getting better productivity by using temp workers who have become unemployed.

Bloomberg;   The value of BP losses in the Gulf includes $22 billion from stock buybacks that went sour as the value of its shares plunge.

Bloomberg:    The components of the new iPhone cost $188 according to iSuppli.

Douglas A. McIntyre