Media Digest (6/2/2011) Reuters, WSJ, NYT, FT, Bloomberg

May retail sales may be hurt by a weakened economy. (Reuters)

Some Fed officials believe that poor jobs results should cause interest rates to stay low. (Reuters)

An academic models shows LinkedIn shares traded at bubble levels in the four days after its IPO. (Reuters)

A bond market rally may show that the economy and markets will have future problems. (Reuters)

Treasury Secretary Geithner will talk to Republicans about the effects of a US default. (Reuters)

Google (NASDAQ: GOOG) said Gmail was hacked, probably by people in China. (Reuters)

The head of Alibaba said Yahoo! (NASDAQ: YHOO) should break up. (Reuters)

Buyout company Gores is in talks to buy many Borders stores. (Reuters)

Large US banks have profited from commodities trading as prices rise. (WSJ)

The US has not shown support for any one possible IMF chief, as it hopes neutrality will make it appear it is not using a heavy hand. (WSJ)

Google Android has done damage to Nokia’s business particularly in its best market–Europe. (WSJ)

The value of Treasuries rose despite concerns about future US debt. (WSJ)

Hyundai sales rose despite trouble with overall US car sales in May. (WSJ)

European banks stress tests were delayed. (WSJ)

A court ruled American Airlines (NYSE: AMR) must list flights on Orbitz. (WSJ)

Groupon started a new service with Expedia (NASDAQ: EXPE). (WSJ)

The IAEA said Japan’s nuclear industry was not prepared for a tsunami. (WSJ)

State budgets showed improvements but tax receipts are still low. (WSJ)

EU finance ministers quickened their pace to rescue Greece. (WSJ)

Time Warner Cable (NYSE: TWC) has begun to promote cable broadband services without TV and VoIP. (WSJ)

The US bailout of the car industry could cost the government $14 billion. (WSJ)

Alpha closed its deal to buy Massey Energy for $7.1 billion. (WSJ)

Microsoft’s (NASDAQ: MSFT) plan to limit use of Windows to some PC companies has caused worry among chip companies. (WSJ)

The Graduate Management Admission Council  says MBA jobs prospects have improved. (WSJ)

Coca Cola (NYSE: KO) may list on the Shanghai Exchange. (WSJ)

Gulf hurricanes could push oil prices higher. (WSJ)

Iraq’s oil exports rose. (WSJ)

A survey by the National Governors Association and the National Association of State Budget Officers shows higher tax receipts alone will not cut budget gaps enough. (NYT)

Natural disaster will hurt profits at many major insurers. (NYT)

The market share of US car companies in May was above those of imports for the first time in five years. (NYT)

Moody’s cut Greece rating again. (FT)

KKR hopes to make profits in its shale gas play. (FT)

Nokia (NYSE: NOK) said rumors about a Microsoft takeover were false. (FT)

Microsoft showed its new Windows product aimed at tablet PCs. (Bloomberg)

Sony (NYSE: SNE) restarted its Europe and US PlayStation network .(Bloomberg)

Douglas A. McIntyre