Media Digest (4/30/2012) Reuters, WSJ, NYT, FT, Bloomberg

Philp Falcone receives extensions from creditors owed money by his high-speed wireless company LightSquared. (Reuters)

Social gifting is a growing part of e-commerce. (Reuters)

Barron’s says Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOG) could join the DJIA. (Reuters)

Spain’s gross domestic product drops 0.3% from the last quarter of 2011 to the first of 2012, meaning the economy is in recession. (WSJ)

Slow earnings may hurt the U.S. rally. (WSJ)

The Wall Street Journal highlights ten women who may soon become CEOs of major companies, including Charlene Begley of General Electric (NYSE: GE), Rosalind Brewer of Walmart (NYSE: WMT), Juliana Chugg of General Mills (NYSE: GIS), Virginia “Gina” Drosos of Procter & Gamble (NYSE: PG), Jan Fields of McDonald’s (NYSE: MCD) and Michelle Gass of Starbucks (NASDAQ: SBUX). (WSJ)

Philip Falcone agrees to step down as the most visible person at LightSquared. (WSJ)

China’s new economy starts to help outside consumer companies and hurt manufacturers. (WSJ)

Amazon.com (NASDAQ: AMZN) will begin to pay sales taxes in Texas and will keep workers there as a result. (WSJ)

Boeing (NYSE: BA) completes the first stage at its South Carolina plant after a period of labor disputes. (WSJ)

The EU battle over bank capital levels continues. (WSJ)

China’s huge purchases of cotton have kept its price high. (WSJ)

Scandals at News Corp. (NYSE: NWSA) may hurt its expansion over the years. (NYT)

Walmart’s U.S. expansion will be hurt by the Mexico bribery probe. (NYT)

PepsiCo (NYSE: PEP) to announce an exclusive deal to supply all nonalcoholic beverages in IHOP and Applebee’s. (NYT)

Spain may set up a series of “bad banks” in an attempt to cordon off the industry’s problems. (FT)

Soy prices begin a new round of food inflation. (FT)

More financial firms face shareholder votes on executive pay. (FT)

Efforts among EU officials to move from austerity to stimulus hets up. (Bloomberg)

A number of analysts expect the S&P 500 to reach a record this year. (Bloomberg)

Douglas A. McIntyre