Media Digest (6/28/2011) Reuters, WSJ, NYT, FT, Bloomberg

Microsoft (NASDAQ: MSFT) will launch a cloud version of Office to compete with Google (NASDAQ: GOOG). (Reuters)

Oil fell on Greek debt concerns. (Reuters)

Sony (NYSE: SNE) said its protected content made it a hacker target. (Reuters)

Apps have begun to distract young drivers according to the University of Alabama Youth Safety Lab.  (Reuters)

Lehman will sell the building which contained the International Toy Center to JP Morgan. (NYSE: JPM) (Reuters)

Greece may find trouble finding buyers for the assets it plans to sell. (WSJ)

The financial claims of Chinese companies have been investigated aggressively by researchers. (WSJ)

Credit card companies have become more aggressive in soliciting the wealthy. (WSJ)

Companies with cash have begun to make more M&A deals and raise capex spending. (WSJ)

Facebook shares rose rapidly on private markets. (WSJ)

Consumer spending has flattened. (WSJ)

GM (NYSE: GM) said that new gas mileage goals would be difficult to reach. (WSJ)

China said it would support Lagarde as the next IMF chief. (WSJ)

Moody’s cut its rating on Toyota (NYSE: TM). (WSJ)

Tepco may become a restructured private company. (WSJ)

The FCC has remained neutral about wireless competition. (WSJ)

Bank restructuring of Greek debt could still trigger a default.  (WSJ)

PepsiCo (NYSE: PEP) will launch an ad campaign to support its flagship brand. (WSJ)

The Supreme Court nullified a California law that keeps minors from the purchase of violent video games. (WSJ)

Heads of Geece’s ruling party asked once again for Parliament to support a five-year austerity plan. (WSJ)

China’s local governments own sums which are close to a quarter of GDP. (WSJ)

Nike (NYSE: NKE) earnings rose sharply. (WSJ)

The Canadian government may block a deal between Continental/United (NYSE: CAL) and Air Canada on antitrust grounds. (WSJ)

Saab got cash as a China firm bought 582 Saab cars for $18.4 million in cash. (WSJ)

Nissan will push for a large increase in global market share. (WSJ)

ISS recommended that Research-In-Motion (NASDAQ: RIMM) separate the roles of chairman and CEO. (WSJ)

TomTom earnings are hurt by smartphone sales. (WSJ)

The size of the rebound in Japan GDP will affect numbers in the US. (WSJ)

EU-based insurers face huge losses from deals with region-based banks and sovereign fund.  (WSJ)

Government antitrust investigations could undermine Google’s growth. (WSJ)

The UK and China will attempt to double the amount of trade between them by 2015 (NYT)

French banks are the head of a deal to extend Greek debt maturities by as much as 30 years. (FT)

The dollar is closer to losing its role as the global reserve currency. (FT)

Stagnant incomes may challenge world growth. (FT)

US money funds face tremendous losses from EU debt trouble. (Bloomberg)

Japan many put up 230 billion yen for nuclear energy aid. (Bloomberg)

Douglas A. McIntyre