Media
Media Digest 7/22/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
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Reuters: Microsoft Corporation (NASDAQ: MSFT) beat Wall St. expectations but it stock did not move.
Reuters: The pay czar will criticize Goldman Sachs Group, Citigroup (NYSE: C), and JPMorgan Chase (NYSE: JPM) for high pay packages during the bank crisis.
Reuters: A SEC watchdog will investigate the timing of the settlement with Goldman.
Reuters: Several Spanish banks failed the stress test.
Reuters: India built a $35 laptop.Reuters: Amazon.com (NASDAQ: AMZN) missed profit targets as expenses rose.
Reuters: The CEO of Nokia (NYSE: NOK) said talk about his departure should end.
Reuters: Goldman says that 10 of the 91 banks tested in Europe will fail.
Reuters: GM will buy AmeriCredit for $3.5 billion.
WSJ: Walmart (NYSE: WMT) will put radio tags in some clothes to track use after they are bought.
WSJ: UBS is trying to rebuild itself.
WSJ: The SEC said bond sales could go ahead without credit rating agency reviews.
WSJ: An inspector said the FAA ignored warnings about Northwest.
WSJ: Geithner says taxes on the wealthy will rise.
WSJ: Home sales dropped as tax credits expired.
WSJ: China may publish new rules about the value of the yuan.
WSJ: Boston Scientific (NYSE: BSX) issued a warning about some of its implantable heart defibrillators.
WSJ: John Paulson and Barton Biggs may launch European funds.
NYT: The Fed may worry about holding mortgage bonds that could lose their value.
NYT; NY State sued Bank of America (NYSE: BAC) and Merrill over pension losses from the merger.
FT: The ECB chief called for global government spending cuts and tax increases.
Bloomberg: Goldman Sachs used three counter-parties to hedge against the risk of an American International Group (NYSE: AIG) failure.
Bloomberg: Stress test will be viewed as successful based more on the details disclosed than the number of failures.
Bloomberg: Smuggled iPads are about to hit China.
Douglas A. McIntyre
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