Media Digest (8/10/2011) Reuters, WSJ, NYT, FT, Bloomberg

Goldman Sachs (NYSE: GS) says QE3 was likely after the Fed’s recent comments. (Reuters)

HSBC (NYSE: HBC) sells its U.S. credit card business to Capitol One. (Reuters)

China not likely to raise interest rates for the time being. (Reuters)

Apple (NASDAQ: AAPL) blocks Samsung from selling its Galaxy tablet in the EU. (Reuters)

Walmart (NYSE: WMT) to launch its video service Vudu on the iPad without use of an app. (Reuters)

Nestle improves its outlook and says that prices offset commodities costs. (Reuters)

China announces its largest trade surplus in 2 years and the yuan moves higher against the dollar.  (WSJ)

California’s tax receipts come in well under budget. (WSJ)

The SEC reviewing Goldman Sachs relationships with Libya. (WSJ)

The Administration will seek plans to turn foreclosed homes into rentals. (WSJ)

Trouble with commercial mortgage-backed securities have hurt the recovery of the commercial real estate market. (WSJ)

The market cap of Apple briefly rises above that of Exxon Mobil (NYSE: XOM). (WSJ)

Facebook will offer an app for mobile messaging. (WSJ)

Wall St. reacts to AOL (NYSE: AOL) earnings by pushing its stock 26% lower. (WSJ)

Members of both parties attack the Standard & Poor’s rating system. (WSJ)

France says its policies will ensure its AAA rating. (WSJ)

Business in Las Vegas has finally picked up. (WSJ)

Results from TV and parks help earnings of Walt Disney (NYSE: DIS). (WSJ)

Cablevision (NYSE: CVC) and Dish Network (NASDAQ: DISH) both lost pay TV subscribers. (WSJ)

Market trouble delays some tech IPOs. (WSJ)

Oil companies with concentrations on exploration could have profits squeezed as crude drops. (WSJ)

Visa (NYSE: V) to offer cards with chip recognition technology. (WSJ)

Bank of America (NYSE: BAC) and Citigroup (NYSE: C) seek to reassure employees and markets that they are healthy. (WSJ)

Bank of America to sell part of its mortgage portfolio to Fannie Mae. (WSJ)

Some investors worry that ECB purchases of Italian and Spanish bonds will not last. (NYT)

GM (NYSE: GM) to cut costs for several more years. (NYT)

Gold vaults increase the price for storing the precious metal. (FT)

Goldman Sachs says it lost money on 15 trading days in the past quarter. (FT)

S&P says some states can be rated higher than the U.S. (FT)

EON to cut 11,000 workers and lower its dividend. (Bloomberg)

Apple sued over claims it fixed e-book prices. (Bloomberg)

Google (NASDAQ: GOOG) lost search engine share to Yahoo! (NASDAQ: YHOO) last month. (Bloomberg)

Douglas A. McIntyre