Media Digest 6/24/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

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Reuters:   The head of a Congressional watchdog committee is pushing for a consumer protection agency.

Reuters:   China defended its export policies against a WTO complaint.

Reuters:   Citigroup (C) intends to raise the base pay of key employees.

Reuters:   Apple’s (AAPL) Jobs has an excellent prognosis after recent surgery.

Reuters:   The Fed will hold off on buying more securities and will probably defer rate hikes.

Reuters:   Oracle (ORCL) profit beat forecasts.

Reuters:   JP Morgan (JPM) topped a list of bank earnings. (C)((BAC)((HBC)

Reuters:   A union owning Morgan Stanley (MS) shares wants the company to review pay hikes.

Reuters:   GM will continue work on a plug-in car.

Reuters:   Ford (F) and Nissan will get US technology loans.

WSJ:   Big oil companies are ready to gamble on Iraq.

WSJ:   Obama is showing flexibility on his health plan.

WSJ:   Boeing (BA) delayed the launch of its 787 again.

WSJ:   The Boston Globe and unions reached a tentative agreement (NYT).

WSJ:   Intel (INTC) is making a run at the cellphone business.

WSJ:   Medtronic (MDT) said it received a federal subpoena.

WSJ:   Builders are working to buy cheap land.

WSJ:   Amazon (AMZN) warned California about a new tax bill.

WSJ:   Huntman (HUN) settled a suit against Credit Suisse (CS) and Deutsche Bank (DB).

WSJ:   Madoff’s lawyer says a 12 year jail term would be fair.

WSJ:   Investors may be paying too much for American Express (AXP) stock because of its brand.

WSJ:   GM plans more job cuts.

WSJ:   Norsk Hydro dropped efforts to buy Asia Aluminum Holdings

NYT:   The head of the Fed has argued that the agency should have more financial regulatory power.

NYT:   Concerns about protectionism are rising as China stimulates its economy.

NYT:   The heads of cable TV companies are trying to protect their video offerings from Internet-delivered content (CVC)(CMCSA)(TWC).

NYT:   Palm (PALM) has been slow to open its Pre to application developers.

NYT:   Lenders are challenging a Delphi plan to exit bankruptcy.

NYT:   A Senate panel said speculators pushed up wheat prices.

FT:   MySpace (NWS) cut global growth and staff.

Bloomberg:   NYSE (NYX) is losing trades to other exchanges.

Douglas A. McIntyre