Media Digest (6/29/2011) Reuters, WSJ, NYT, FT, Bloomberg

Odds that a Greek austerity bill will pass rose. (Reuters)

Bank of America (NYSE: BAC) is near a deal to settle an MBS charge for $8.5 billion. (Reuters)

A new Google (NASDAQ: GOOG) feature targets Facebook users. (Reuters)

The Zynga IPO will raise $2 billion. (Reuters)

Hewlett-Packard (NYSE: HPQ) will launch a cloud-based product in China. (Reuters)

Wall St. firms have begun to aggressively lay-off workers. (WSJ)

Lagarde was named head of the IMF. (WSJ)

Auditors increased their scrutiny of Chinese companies. (WSJ)

Yahoo! (NASDAQ: YHOO) will create a new company with its Hadoop engineering team. (WSJ)

A bidder is close to buying MySpace for $30 million. (WSJ)

State finances are improving sightly on higher tax collections. (WSJ)

Chinese Premier Wen said China would help Europe through a purchase of bonds. (WSJ)

Patients who used Roche’s Avastin safely want the FDA to reconsider approving the drug . WSJ)

The UAW and US car companies will begin negotiations shortly. (WSJ)

Sony (NYSE: SNE) cut its CEO’s pay. (WSJ)

Toyota’s (NYSE: TM) bond rating was cut. (WSJ)

Ad-targeting firm Specific Media will probably be the buyer of MySpace, owned by News Corp. (NYSE: NWS) (WSJ)

China may cut tariffs on some luxury goods. (WSJ)

The SEC has begun to look at REITs that do not trade on exchanges where they are listed. (WSJ)

A judge said MBIA insured firms can sue for fraud. (WSJ)

Groupon’s IPO value may be lowered as its improves terms to keep retailers. (WSJ)

A Greek default would put many money funds at risk. (NYT)

Dodd-Frank has increased debate over state versus federal regulation.(NYT)

Greece will default if its parliament does not approve austerity legislation. (FT)

Basel regulators will scrutinize banks risk models. (Bloomberg)

Global investment bank deal volume has slowed. (Bloomberg)

Douglas A. McIntyre