Hilary Clinton may become the head of the World Bank. (Reuters)

Toyota (NYSE: TM) said it expects profits to fall by 35% due to the effects of the earthquake. (Reuters)

PIMCO’s Bill Gross said he has bought foreign debt over Treasuries. (Reuters)

Many experts believe that markets’ moves will continue to be down. (Reuters)

Brent oil continues to trade at $118. (Reuters)

A group which includes Activision Blizzard’s CEO has made an offer to buy MySpace from News Corp (NYSE: NWS). (Reuters)

Microsoft (NASDAQ: MSFT) lost a critical patent case. (Reuters)

Apple (NASDAQ: AAPL) expanded the way that publishers could market to iPad users through the App Store. (Reuters)

Sprint-Nextel (NYSE: S) will begin to sell two Motorola phones with a goal to improve subscribers to its 4G network. (Reuters)

Ally Financial will delay its IPO. (Reuters)

The Anglo Irish Bank may sell its $10 billion US portfolio. (Reuters)

China company MediaExpress had a number of large US investors. Now, its accounting practices have been investigated by regulations. (WSJ)

Facebook will have to consider China’s censorship as its moves into the market. (WSJ)

Google may buy interactive ad company AdMeld. (WSJ)

Rifts among OPEC members are likely to persist. (WSJ)

Morgan Stanley (NYSE: MS) began a joint venture in the Chinese financial markets. (WSJ)

Top Congressmen pressed budget and debt talks as outside pressure from ratings firms and economists increased. (WSJ)

US household debt dropped earlier this year. (WSJ)

Japan nuclear power plants may occasionally cut operations which will cause an electric energy shortage. (WSJ)

The ECB said it would not support an extension of Greek debt maturities. (WSJ)

Germany will work to increase access to fossil fuels as it moves away from nuclear energy. (WSJ)

The UAW will consider profits sharing with car companies ahead of traditional raises. (WSJ)

Ford (NYSE: F) has begun work to revive Lincoln. (WSJ)

GM (NYSE: GM) may sell Opel. (WSJ)

Lenders will force Borders to close more stores. (WSJ)

Junk bonds backed by subprime mortgages has been rapidly sold by investors. (WSJ)

Regulators warned about investments in companies which used reverse merger to get exchange listings. (WSJ)

The FDIC said larger banks should have to keep more capital. (WSJ)

The USDA cuts its forecasts on the US corn crop. (WSJ)

Companies are likely to spend money on equipment and not workers. (NYT)

Tokyo Electric Power may become insolvent. (NYT)

China’s trade surplus with the US reached $13 billion in May. (FT)

Demand for China exports slowed .(FT)

The McKinsey Global Institute in Washington says US unemployment could stay high for a decade. (FT)

Greece may need 45 billion euros in new loans. (Bloomberg)

Christine LaGarde has become front runner in the contest to be head of the IMF. (Bloomberg)

Douglas A. McIntyre

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