The European Central Bank probably will cut rates due to weaknesses in EU economies. (Reuters)
Some states push mediation as a way to keep people in their homes. (Reuters)
US Airways (NYSE: LCC) says it is in no rush to merge with American Airlines, the parent of which is in Chapter 11. (Reuters)
Volkswagen will buy the part of Porsche it does not own for $5.58 billion. (Reuters)
The Libor scandal likely will spread to banks beyond Barclays (NYSE: BCS). (WSJ)
Some cities may use eminent domain to force negotiations of troubled mortgages. (WSJ)
Apple (NASDAQ: AAPL) may launch a new iPad with a screen smaller than eight inches sometime in September. (WSJ)
Best Buy (NYSE: BBY) may update its stores to look more like Apple’s retail outlets. (WSJ)
The appointment of a euro bank supervisor may take longer than planned. (WSJ)
Australia will not block Glencore’s takeover of Xstrata. (WSJ)
Rental rates continue to rise as inventory falls. (WSJ)
France plans to raise taxes on businesses and the rich. (WSJ)
Google (NASDAQ: GOOG) increases classes offered to employees at GoogleEDU. (WSJ)
The legal case between broadcasters and Dish Networks (NASDAQ: DISH) over “ad skipping” technology should be decided soon. (WSJ)
Thomas Joyce of Knight Capital continues to attach Nasdaq (NASDAQ: NDAQ) problems with the Facebook (NASDAQ: FB) IPO. (WSJ)
The nation’s largest banks reveal the “living wills” that could be used if they face disasters in another financial crisis. (WSJ)
Heat damages corn crops in the Midwest. (NYT)
More retailers press customers to use their stores as an extension of e-commerce operations. (NYT)
Wells Fargo (NYSE: WFC) outspends rivals in lobbying dollars as it works to protect its mortgage business. (FT)
Monti of Italy and Merkel of Germany say they will work together to solve the EU crisis. (Bloomberg)
China’s “beige book” shows improvements in the country’s economy not seen in national statistics. (Bloomberg)
Douglas A. McIntyre
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