Media Digest (7/12/2011) Reuters, WSJ, NYT, FT, Bloomberg

News Corp (NYSE: NWS) may face a bribery probe in the U.S. (Reuters)

An Apple (NASDAQ: AAPL) patent lawyer may leave the firm (Reuters)

China bank lending picked up. This could cause more inflation (Reuters)

Cisco (NASDAQ: CSCO) may fire 10,000 workers (Reuters)

Sprint Nextel (NASDAQ: S) has received subpoenas from nine states with regard to the AT&T (NYSE: T) buyout of T-Mobile (Reuters)

Apple filed new patent claims against HTC (Reuters)

Markets were upset over concerns that Italy’s debt situation was worse than thought (WSJ)

Hedge funds have started to invest more in private internet companies (WSJ)

China Mobile (NYSE: CHL) plans to build out 4G networks (WSJ)

Shareholders sued News Corp over the effects of the UK scandals (WSJ)

NCR will buy Radiant Systems for over $1.1 billion (WSJ)

Cisco will update its high-end switching product (WSJ)

Amazon (NASDAQ: AMZN) will try to get the online sales tax issue on the statewide ballot in California (WSJ)

EU finance ministers suggested that bailout facilities be expanded (NYT)

As part of an $8.2 billion mortgage settlement Bank of America (NYSE: BAC) will turn over home loans to other customer, which could accelerate foreclosures (NYT)

Starbucks (NASDAQ: SBUX) reorganized to drive overseas growth (NYT)

Dunkin Donuts will raise $460 million in an IPO (NYT)

Banks have offered attractive rates to get more hedge fund business (FT)

Alcoa (NYSE: AA) earnings doubled (FT)

China’s satellite surveillance technology has begun to rival America’s (FT)

News Corp has lost $7 billion in market cap over the last four days (Bloomberg)

Portugal’s GDP will fall this year and next because of austerity measures (Bloomberg)

The People’s Bank of China said money supply grew in the People’s Republic last month (Bloomberg)

Moody’s said a number of Chinese companies have poor governance (Bloomberg)

Douglas A. McIntyre