EU leaders set a tentative plan to recapitalize troubled banks directly with funds meant to be loaned for sovereign bailouts. (Reuters)

Stockton, Calif., files for bankruptcy. (Reuters)

Research In Motion (NASDAQ: RIMM) may set a partnership with Microsoft (NASDAQ: MSFT) as a last-ditch way to save the company. (Reuters)

The loss on a set of trades in London likely will cost JP Morgan (NYSE: JPM) between $4 billion and $6 billion. (Reuters)

Google’s (NASDAQ: GOOG) Chrome browser will be available on the Apple (NASDAQ: AAPL) iPad and iPhone. (Reuters)

Anheuser-Busch InBev (NYSE: BUD) will buy the portion of Grupo Modelo it does not already own for $20.1 billion. (WSJ)

The SEC may force Nasdaq OMX (NASDAQ: NDAQ) to upgrade its trading systems after the rocky IPO of Facebook (NASDAQ: FB). (WSJ)

Google will launch a new cloud product to compete with Amazon.com (NASDAQ: AMZN). (WSJ)

The United States may agree to a final settlement of charges against BP (NYSE: BP) and Transocean (NYSE: RIG) over the Deepwater Horizon incident. (WSJ)

Twitter has success selling ads on mobile devices. (WSJ)

Ford (NYSE: F) says it will lose more money that expected overseas when it releases second-quarter earnings. (WSJ)

Spain’s banks will get bailout funds directly from the European Union. (FT)

Coty sets a $1 billion IPO. (FT)

Nike’s (NYSE: NKE) quarterly profits fall for the first time since 2009. (Bloomberg)

German retail sales fell in May, according to the Federal Statistics Office. (Bloomberg)

Mercedes takes the lead in luxury car sales in the U.S., edging out BMW. (Bloomberg)

Douglas A. McIntyre

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