Reuters:   Pandit bought time at Citigroup (C) with a management reshuffle.

Reuters:   Obama’s healthcare and climate plans are running into resistance.

Reuters:   AIG (AIG) will pay more executive bonuses in July.

Reuters:   The new GM will exit Chapter 11 today.

Reuters:   The SEC and CFTC will police derivatives markets.

Reuters:   UBS (UBS) will not comply with a US request to get account names.

Reuters:   Start-ups are likely to use Google’s (GOOG) new operating system over Microsoft (MSFT) Windows.

Reuters:   Chevron (CVX) said refining margins would hit earnings.

Reuters:   The Treasury sold warrants from TARP financing at below market prices.

Reuters:   More US homeowners are cutting prices.

Reuters:   There are no easy ways for California to exit its budget crisis.

WSJ:   The Administration is asking mortgage-services companies to modify more home loans.

WSJ:   Firms are saying Treasury is asking too high a price for warrants from TARP money.  JPMorgan (JPM) will allow the government to auction its in the open market.

WSJ:   Economists oppose a second stimulus package.

WSJ:   Asset allocation, an important investment approach,  has failed recently.

WSJ:   Exxon (XOM) made a major shale gas find.

WSJ:   Firms that trade derivatives are fighting regulation.

WSJ:   Amazon’s (AMZN) Kindle program will sell law books.

WSJ:   Hitachi will outsource the  making of its TVs.

WSJ:   Officials warn that expanding the Fed’s mandate will hurt its independence.

WSJ:   California is asking vendors for major cuts in prices.

WSJ:   Cerberus is making it easier for investors to get out.

WSJ:   Firms are offering software to ward off virus attacks from Korea.

WSJ:   Citadel sued three former employees who had non-competes.

WSJ:   Amazon (AMZN) is being hurt by not having a bricks-and-mortar component as states tax its sales.

WSJ:   Oil dropped below $60.

WSJ:   Weak June sales left retailer worried about back to school sales.

WSJ:   Broadcom (BRCM) ended its bid for Emulux.

WSJ:   Fuji Heavy may produce cars in China.

WSJ:   Sprint (S) will outsource network operations to Ericsson (ERIC).

NYT:   GM will bet much of its come back on the new Camaro.

NYT:   Claims from Madoff victims were over 15,400.

NYT:   A panel said taxpayers could loss money on undervalued warrants.

FT:   China attacked the dollar’s dominance.

FT:   China accused Rio Tinto (RTP) employees of bribery.

Bloomberg:   China’s currency reserves may top $2 trillion.

Bloomberg:   China failed to attract enough bidders in a note sale.

Douglas A. McIntyre