Media Digest (6/19/2012) Reuters, WSJ, NYT, FT, Bloomberg

Microsoft (NASDAQ: MSFT) launches its Surface tablet. (Reuters)

European leaders say they will create a more integrated banking system. (Reuters)

The Financial Industry Regulatory Authority may determine whether Nasdaq (NASDAQ: NDAQ) was at fault in the Facebook (NASDAQ: FB) IPO. (Reuters)

Facebook buys facial recognition company Face.com for $60 million. (Reuters)

Verizon (NYSE: VZ) raises bills for its FiOS fiber product and increases connection speeds. (Reuters)

United Technologies (NYSE: UTX) may sell part of its Pratt engine business. (Reuters)

Spain is the new financial flash point of Europe. (WSJ)

Germany may disagree on the terms of Greek austerity and bailout provisions. (WSJ)

JCPenney (NYSE: JCP) pushes out its president, Michael R. Francis, who has been at the company for eight months. (WSJ)

Results from the American Customer Satisfaction Index show that airlines continue to have low scores compared to other industries. (WSJ)

Access to consumer credit continues to hurt the U.S. recovery. (WSJ)

Oracle (NASDAQ: ORCL) posts extremely strong quarterly numbers, which its released earlier than expected. (WSJ)

Vincent Intrieri will join the Chesapeake Energy (NYSE: CHK) board as a representative of big holder Carl Icahn. (WSJ)

Carrefour’s new CEO says he will cut debt and overhead at the troubled retailer. (WSJ)

Gartner reports that Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOG) have increased their share of the smartphone market. (WSJ)

FedEx (NYSE: FDX) earnings may include a warning for next year. (WSJ)

Arabica coffee futures reach a two-year low. (WSJ)

Fed officials will meet to decide if the U.S. economy needs more aid. (NYT)

Sales of consumer electronics at stores have fallen 2.6% in the past five years while online sales have risen 14.7%. (NYT)

The 12th edition of “The State of Working America,” a book from the Economic Policy Institute, reports that more Americans are taking jobs they are overqualified for and being hurt by income difficulties. (NYT)

G20 members say they will support the value of the euro. (FT)

Russia will set aside $40 billion to stimulate its economy. (FT)

China expects government efforts to help its June growth rate. (Bloomberg)

LG Electronics to abandon its tablet efforts. (Bloomberg)

Douglas A. McIntyre