Media Digest 7/30/2010 Reuters, WSJ, NYTime, FT, Bloomberg

Reuters:   Second quarter growth slowed on imports and lower consumer spending.

Reuters:   Republicans blocked a small business plan.

Reuters:   The House will take up legislation on offshore drilling.

Reuters:   Citigroup (NYSE: C) paid $75 million to settle SEC charges over the marketing of subprime paper.

Reuters:   Growing competition in the smartphone sector will hit the profits of handset makers.

Reuters:   Google Inc. (NASDAQ: GOOG) says that the failure of search results to work in China may be a technical glitch.

Reuters:   Microsoft Corporation (NASDAQ: MSFT) showed off a tablet and new smartphone.

Reuters:   Russia has begun to regulate the internet more which may effect Google.

Reuters:   Walt Disney (NYSE: DIS) sold Miramax for $600 million.

WSJ:   The IMF says the US financial system is still at risk.

WSJ:   The US House passed a new airline safety bill.

WSJ:   Droid sales helped Motorola (NYSE: MOT) earnings.

WSJ:   The Justice Department sued Oracle (NASDAQ: ORCL) over defrauding the US government

WSJ:   Stronger profits and a weak economy make an odd pair.

WSJ:   Samsung’s profits rose.

WSJ:   Corporate bond sales are up due to low interest rates.

WSJ:   Reliance of India and Universal Studios are in talks about building a theme park in the huge nation.

WSJ:   Demand for German products is helping earnings of companies based in the country.

WSJ:   The actions of gangsters and drug dealers are helping the EU economy.

WSJ:   China Investment Corp, the sovereign fund, earned an 11.7 % return last year.

NYT;   Cloning livestock is gaining popularity in Europe.

NYT:   The White House will make its case for investing in the car industry.

NYT:   The UK will end its mandatory retirement age of 65.

FT:   The Federal Reserve reported profits on ownership interest in American International Group (NYSE: AIG) and Bear Stearns.

FT:   Earnings at European companies have rebounded strongly.

Bloomberg:   Maoists in India have blown up pipelines which may put  $78 billion in natural resource projects at risk.

Bloomberg:   Toyota Motor (NYSE: TM) recalled 480,00 cars due to steering problems.

Bloomberg:   British Air earnings were hurt by strikes and traffic interrupted by volcanic activity.

Douglas A. McIntyre