Media Digest 7/22/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:  BP plc (NYSE: BP) defended its CEO as it considered new options to kill the well.

Reuters:   The Senate voted to restore jobless benefits.

Reuters:   Obama’s budget review may trim the 2010 projected deficit.

Reuters:   eBay’s (NASDAQ: EBAY) earnings beat the Street.

Reuters:   Starbucks (NASDAQ: SBUX) and Netflix (NASDAQ: NFLX) posted disappointing results.

Reuters:   Facebook will not have an IPO until it makes sense,, according to its CEO.

Reuters:   Motorola (NYSE: MOT) sued Huawei for trade theft.

Reuters:   Sovereign wealth funds are going to the capital markets for more money.

WSJ:   Several oil firms including Exxon Mobil (NYSE: XOM) and ConocoPhilips (NYSE: COP) will create an oil spill response operation

WSJ:  Ford Motor’s (NYSE: F) financial arm killed a bond offering because of market confusion over financial reform

WSJ:   The pay czar will issue a report about how well financial firms paid their management during the credit crisis.

WSJ:   Bernanke is prepared to act on slowing.

WSJ:   IBM (NYSE: IBM) has launched a new mainframe.

WSJ:   The rally in the euro may end soon.

WSJ:   UPS (NYSE: UPS) and Caterpillar (NYSE: CAT) earnings will be good barometers for the economy.

WSJ:   Apple Inc (NASDAQ: AAPL) is pushing into the small business market.

WSJ:   The Securities Industry and Financial Markets Association is pushing for more government involvement in Freddie Mac and Fannie Mae to support the mortgage market.

WSJ:   The IMF expects Europe to grow at 2% in 2012.

WSJ:   Small businesses are being asked to provide more collateral for bank loans.

WSJ:   Lions Gate maneuvered to protect itself from Carl Icahn.

WSJ:   Intel (NYSE: INTC) and the FTC are still working on a settlement.

WSJ:   Siemens is having trouble with a virus that attacks some of its computer products.

WSJ:   Baidu’s (NASDAQ: BIDU) profit more than doubled.

WSJ:   New bank test will show how weaker financial firms and nations rely on the ECB.

WSJ:   GM sales are moving up sharply in China.

WSJ:   The SEC wants an overhaul of mutual fund fees.

FT:   The IMF wants more transparency from stress test of European banks.

FT:   China’s credit rating agency attacked rivals in the West.

Bloomberg: Walmart (NYSE:WMT) pitted construction workers against retail employees to move into Chicago.

Bloomberg:   China’s car dealers are cutting prices to bring in new customers.

Bloomberg:   Microsoft (NASDAQ: MSFT) may use its cash to increase its dividend.

Douglas A. McIntyre