Media Digest (7/15/2011) Reuters, WSJ, NYT, FT, Bloomberg

TSMC may replace Samsung as the maker of chips for the Apple (NASDAQ: AAPL) iPad (Reuters)

Google (NASDAQ: GOOG) earnings surpassed Wall St. expectations and shares surged (Reuters)

S&P warned the U.S. on debt (Reuters)

Bernanke said federal spending cuts could hurt the economy (Reuters)

Sony Ericsson posted an unexpected quarterly loss (Reuters)

Blockbuster will try to win over Netflix (NASDAQ: NFLX) customers that are unhappy about price increases (Reuters)

BHP Billiton (NYSE: BHP) bought Petrohawk for $12.1 billion (Reuters)

Deutsche Boerse won backing for its $9.7 billion takeover of NYSE (NYSE: NYX)

China’s attempt to make the yuan a global currency has caused large sums of money from outside the country to hit its economy unexpectedly. (WSJ)

Retail sales rose 0.1% in June (WSJ)

Bernanke said he is not likely to support QE3 (WSJ)

International capital markets reacted positively to Ireland spending cuts (WSJ)

ConocoPhillips (NYSE: COP) will split itself into two companies (WSJ)

Chrysler and Fiat will complete their merger soon to create a company that can compete with large international rivals (WSJ)

Peabody Energy will seek deals to increase its presence in China (WSJ)

Williams increased its bid for Southern Union to $5.6 billion (WSJ)

The IMF said Europe banks were under capitalized just days ahead of stress tests (WSJ)

Italy’s borrowing costs have risen quickly (WSJ)

EU banks hope stress tests will show their viability as lenders (NYT)

Food companies disagree with federal regulators about how much they should reveal about content that may cause health problems (NYT)

China pressed the U.S. to raise the debt ceiling to protect Treasury holders (NYT)

Credit Suisse has become part of a large U.S. tax investigation (FT)

The CEO of Google is defending the company’s aggressive spending (FT)

Merkel pressed bondholders to help bailout Greece as default looks more likely (FT)

Ford (NYSE: F) has become more aggressive in the green car market to more effectively compete with VW (Bloomberg)

Douglas A. McIntyre