Media Digest 6/9/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

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