Media Digest (2/28/2012) Reuters, NYT WSJ, Bloomberg

Yahoo! (NASDAQ: YHOO) threatens a patent suit against Facebook, citing a number of violations. (Reuters)

TransCanada (NYSE: TRP) cuts the length of its Keystone XL pipeline in the hopes of finishing some of it by next year. (Reuters)

S&P downgrades Greece to “selective default.” (Reuters)

Bank of America (NYSE: BAC) wins the right for its $8.5 billion settlement for mortgage-backed securities go back to New York state courts and not federal ones. (Reuters)

Consumer debt falls in Q4 as mortgage balances fall. (Reuters)

Pending home sales reach a two-year high. (Reuters)

Supply concerns keep Brent crude above $124 a barrel. (Reuters)

Facebook tries to get support of mobile carriers through an offer to give them some of the e-commerce that passes through the site. (Reuters)

Nokia (NYSE: NOK) launches inexpensive smartphones with the Microsoft (NASDAQ: MSFT) mobile OS. (Reuters)

Dell (NASDAQ: DELL) releases new servers and says it is no longer a PC company. (Reuters)

Volkswagen will keep its options open for its ownership position in Porsche. (Reuters)

General Motors (NYSE: GM) may buy an ownership position in Peugeot. (Reuters)

Interest rates are so low that some investors pay money to the government to borrow. (NYT)

The Federal Housing Administration will ask borrowers to pay two fees to raise money. (NYT)

Fannie Mae and Freddie Mac are asked to reduce principals on mortgages. (NYT)

Lending is slow in Europe despite European Central Bank efforts to loan money to banks. (NYT)

Settlement talks between BP (NYSE: BP) and plaintiffs concentrate on $14 billion left in a $20 billion fund set up for Deepwater Horizon damages. (WSJ)

Walmart (NYSE: WMT) to set up a DVD system that allows people to access content at home or on mobile devices. (WSJ)

Aol’s (NYSE: AOL) CTO leaves the company. (WSJ)

Spain wants a new debt target with the EU as its economy has gotten worse. (WSJ)

Time spent on Google+ is a fraction of that spent on Facebook. (WSJ)

AT&T (NYSE: T) may charge app makers for data use. (WSJ)

A recovery of the trucking industry may signal a turn up in the economy. (WSJ)

A Moody’s downgrade could cost Morgan Stanley (NYSE: MS) billions in new collateral. (WSJ)

Some members of Merkel’s party vote against a Greek bailout. (Bloomberg)

Douglas A. McIntyre