Media Digest (6/8/2011) Reuters, WSJ, NYT, FT, Bloomberg

The acting head of the IMF said that the US does not need stimulus because exports and disposable income will lift GDP. (Reuters)

Facebook’s facial recognition technology is increasing worries about privacy. (Reuters)

A consortium which includes Google (NASDAQ: GOOG), Akamai (NASDAQ: AKAM), and Facebook will test the internet for its ability to handle billions of new connections from people and mobile devices. (Reuters)

Sony (NYSE: SNE) said it expected good sales for its new handhelds. (Reuters)

Analysts were not impressed by the new Nintendo Wii U. (Reuters)

Citigroup (NYSE: C) will sell $1.7 billion in private equity assets. (WSJ)

Deutsche Boerse and NYSE: Euronext (NYSE: NYX) may offer a special dividend to improve odds of a merger. (Reuters)

Morgan Stanley’s (NYSE: MS) plans to cut costs are an example of the new frugality of Wall St. (WSJ)

Many municipalities have suggested merging with others or setting shared services. (WSJ)

OPEC members cannot yet agree on quotas. (WSJ)

Ben Bernanke said US economic growth will be “uneven.” (WSJ)

Margin requirements have changed the risk profiles of trades in commodities. (WSJ)

Blue Shield of California will limit its profits due to concerns about health care costs. (WSJ)

The EU has still not decided on how to best handle the Greek debt crisis. (WSJ)

JD Power says airline customer satisfaction grew. (WSJ)

AT&T (NYSE: T) received a license to do business in Indonesia. (WSJ)

A survey found as many as 30% of companies will reduce benefits or drop health insurance due to new federal rules. (WSJ)

Pfizer (NYSE: PFE) may cut another $1 billion in costs. (WSJ)

Ford (NYSE: F) expects a rapid increase in Asian sales. (WSJ)

GM (NYSE; GM) has more cash on hand than it can use. (WSJ)

Nestle said commodities prices will curb profits. (WSJ)

Fitch downgraded Nokia (NYSE: NOK). (WSJ)

Online ad spending rose 20% in 2010. (WSJ)

The SEC has begun to stop the ability to trade some penny stocks because their financial information is lacking. (WSJ)

A rise in food prices threatens the poorest nations. (WSJ)

Bernanke again expressed concerns about the deficit. (NYT)

NBCU, controlled by Comcast (NASDAQ: CMCSA), won the rights to four Olympics (NYT)

Bernanke did not mention QE3 in his open remarks .(FT)

Jamie Dimon of JP Morgan (NYSE: JPM) questions Bernanke on bank regulation. (FT)

Obama said a Greek default would hurt American interests. (FT)

China again raised issues about the US deficit. (FT)

The World Bank’s Global Economic Prospects report raised concerns about the overheating of emerging nations. (Bloomberg)

China bought more Japan long-term debt to diversity its investments. (Bloomberg)

Douglas A. McIntyre