Reuters: China must balance growth and reducing greenhouse gases.
Reuters: The Supreme Court has delayed Chrysler’s Chapter 11.
Reuters: The US will allow 10 banks to repay TARP funds.
Reuters: The Boston Globe (NYT) union rejected pay cuts.
Reuters: Auto suppliers are seeking new government aid.
Reuters: The US bailout panel wants more bank stress tests.
Reuters: Apple (AAPL) cut the price of the iPhone by $99 and also cut Mac prices.
Reuters: Barclays (BCS) is in talks with Blackstone (BLK) for a $12 billion deal for its BGI unit.
Reuters: Palm (PALM) shares fell on concerns about supplies of its new Pre.
Reuters: Texas Instruments (TXN) raised its quarterly forecast.
Reuters: Two more Bank of America (BAC) directors resigned.
WSJ: The Obama Administration is backing off plans to consolidate a number of financial regulatory agencies.
WSJ: Appraisals are becoming a hurdle to home sales.
WSJ: The US wants more Europe bank stress tests (DB)
WSJ: P&G (PG) picked a new CEO.
WSJ: Some Wall St firms will stop offering independent research.
WSJ: KKR will invest in a gas exploration firm.
WSJ: Citicorp (C) will launch an exchange offer.
WSJ: Qwest (Q) will keep its long distance assets after failing to get a reasonable bid.
WSJ: Luxury car sales are still soft.
WSJ: The outlook for airline losses increased (DAL)(UAUA)(AMR)
WSJ: Ads are promoting the Palm (PALM) Pre’s nimble moves.
WSJ: Many firms are cutting pay to save jobs.
WSJ: Wells Fargo (WFC) and BAC will settle claims that they misrepresented the value of some securities they sold.
WSJ: Despite higher savings, consumers have barely dented their debt load.
WSJ: Western banks have begun to woo Russia’s rich.
WSJ: As they joined the DJIA, Cisco’s (CSCO) shares underperformed while Travelers rose 1 percent.
WSJ: The Fed’s next short-term move on interest rates will be up.
WSJ: Junk bond financing for new deals is still recovering slowly.
WSJ: Many small businesses are reviving sales by offering discounts.
WSJ: Fedex (FDX) has begun to lobby against a new labor bill.
WSJ: Clear Channel hired a top Time Warner (TWX) executive to run sales.
NYT: High gas prices could slow the economic recovery.
NYT: Shell (RDS.A) will pay $15.5 million to settle a case in Nigeria.
NYT: Banks and financial firms like AIG (AIG) are advertising to improve their images.
NYT: The Administration said it was making progress under its recovery plan.
NYT: The chairman of the Public Company Accounting Oversight Board stepped down.
NYT: Hedge fund results were up 5% in May.
NYT: A judge ordered a former Bristol-Myers (BMY) to write a book as part of a penalty.
NYT: Bain Capital may buy a stake in a large Chinese retailer.
Bloomberg: JPMorgan (JPM) is among the banks that will repay TARP funds.
Bloomberg: Pimco says the economic outlook “looks bad” and that higher interest rates are some time away.
FT: Citigroup (C) confirmed a plan to raise $33 billion.
FT: The New York Times (NYT) may close The Boston Globe after losing a union vote.
Douglas A. McIntyre