Media Digest (7/11/2011) Reuters, WSJ, NYT, FT, Bloomberg

The prime minister of China says inflation is the government’s first priority and that the central bank there may tighten monetary policy again (Reuters)

EU financial ministers and central bankers will meet about problems created by international worries over Italy’s debt (Reuters)

Nestle will buy 60% of a major Chinese candy maker for $1.7 billion (Reuters)

Earnings surprises could cause a further rise in U.S. markets (Reuters)

The number of  hurdles to a global economic recovery has grown recently (Reuters)

Monsanto may enter a joint venture with Sinochem (Reuters)

China’s manufacturing and export machine is once again growing fast enough to cause concern in other manufacturing nations (WSJ)

Obama’s fight with Republicans has caused both sides to seek very modest cuts in the deficit (WSJ)

Big Pharma has begun to recover as companies focus on drugs for disease that have few effective treatments (WSJ)

The U.S. Chamber of Commerce released research that shows small businesses are doing little hiring (WSJ)

AIG (NYSE: AIG) may dismiss some bankers that managed a share sale in April (WSJ)

The effort of Boeing (NYSE: BA) and Airbus to win a 250 plane contract from American (NYSE: AMR) will have long-term effects on the winner and the loser (WSJ)

Deep discount retailers known as dollar stores have begun to lose traffic (WSJ)

The head of the EU has called another meeting to cover a new bailout of Greece (WSJ)

IEA efforts to add supply to global oil stocks has not kept crude prices low (WSJ)

NetFlix (NASDAQ: NFLX) will not consider a buyout of Hulu (WSJ)

A drop in the dollar has helped U.S. exports but may cause capital investors to lose faith in the currency (WSJ)

An Oklahoma law will help Chesapeake Oil stop efforts by shareholders to restructure its board (WSJ)

New rules on higher gas mileage for U.S. cars has caused tension with some Asia manufacturers (WSJ)

Satellite-operator Iridium will release products for trans-ocean flights (WSJ)

‘Transformers’ third installment has reached $645 million in ticket sales worldwide (WSJ)

A key element of second quarter earnings reports is whether companies believe commodities and oil costs will stay high (WSJ)

The aging of Japan’s population may hurt sales of its bonds (WSJ)

About 20% of American personal income comes from government payments, which have begun to fall (NYT)

Wall St. banks are expected to post poor results (NYT)

Deutsche Bank may appoint co-CEOs (NYT)

The Labour Party will try to block the News Corp (NYSE: NWS) buyout of BSkyB (NYT)

EU leaders now expect that Greece may default on some of its bonds (FT)

The chief of Dow Jones, Les Hinton, may face pressure to remain in his jobs because of a potential role in the New of the World‘s illegal phone taps and police relationships (FT)

China has few options to rekindle growth and cut inflation rates (Bloomberg)

Douglas A. McIntyre