Media Digest (5/17/2012) Reuters, WSJ, NYT, FT

The European Central Bank no longer offers help to Greek banks it believes are insolvent. (Reuters)

Some brokerage firms stop taking orders for Facebook shares. (Reuters)

Japan’s gross domestic product rises 3.5% in the first quarter, helped by consumer spending. (Reuters)

President Obama may force more harsh rules on banks after the JP Morgan (NYSE: JPM) loss. (Reuters)

Pinterest raises $100 million. (WSJ)

Some Facebook shareholders will sell $3.5 billion of stock in the initial public offering. The firms include Goldman Sachs (NYSE: GS). (WSJ)

Apple (NASDAQ: AAPL) may launch an iPhone with a larger screen. (WSJ)

Verizon Wireless will cut unlimited data plans when customers upgrade to 4G LTE. (WSJ)

LG Electronics releases its own series of new smartphones. (WSJ)

The Mortgage Bankers Association releases data that shows the percentage of homes in foreclosure has not fallen much in the past two years. (WSJ)

The number of loans in China has fallen, which may hurt the economy. (WSJ)

Japan’s economy grows an annualized 4.1% in the quarter ended in March. (WSJ)

Google (NASDAQ: GOOG) changes the way sites are measured as it tries to cut sites that try to “game” its system. (WSJ)

Walmart (NYSE: WMT) has been tardy in opening new, small stores, which is hurting it in competition with Target (NYSE: TGT) and other retailers. (WSJ)

Coty will use Bank of America (NYSE: BAC) and JP Morgan for its IPO. (WSJ)

JP Morgan’s trading loss could rise 50%. (NYT)

Dish Network (NASDAQ: DISH) releases a DVR that allows viewers to skip ads. (NYT)

The Federal Reserve says it is worried about the eurozone crisis and its effect on the U.S. economy. (FT)

Shell (NYSE: RDS-A) says natural gas prices could surge by 2015 due to demand. (FT)

Douglas A. McIntyre