Media Digest (4/12/2012) Reuters, WSJ, NYTimes, FT, Bloomberg

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Sony (NYSE: SNE) says it will eliminate 10,000 jobs and retool the company for growth. (Reuters)

Exports from Japan improve. (Reuters)

The Fed’s Beige Book reports concern about energy costs. (Reuters)

The World Bank expects China’s expansion to slow this year. (Reuters)

Rio Tinto (NYSE: RIO) and BHP Billiton (NYSE: BHP) ore output will drop because of low demand in China. (Reuters)

Apple (NASDAQ: AAPL) tries to fix malware problems with some Macs, but the PR fallout has been significant. (Reuters)

BlackRock (NYSE: BLK) will set its own bond trading platform to bypass normal markets. (WSJ)

The Justice Department claims Apple and five publishers illegally set e-book prices. (WSJ)

More fast-food chains sell company outlets to franchisees as a way to cut costs. (WSJ)

Las Vegas Sands (NYSE: LVS) launches a $4.4 billion casino complex in Macau. (WSJ)

The federal deficit narrows as tax receipts rise. (WSJ)

Competition in the locomotive business rises between General Electric (NYSE: GE) and Caterpillar (NYSE: CAT). (WSJ)

The CFO of JCPenney (NYSE: JCP) is pushed out. (WSJ)

Record labels and digital sites reach an agreement on royalties. (WSJ)

California solar-power developer BrightSource Energy will go public. (WSJ)

Volkswagen and BMW set sales records in the first quarter on improved luxury demand. (WSJ)

China Q1 auto sales fall 3.4% (WSJ)

The Greek crisis leaves Cyprus with huge debts. (NYT) (NASDAQ: AMZN) will cut e-book prices. (NYT)

Johnson & Johnson (NYSE: JNJ) is fined $1.2 billion for its promotion of drug Risperdal. (NYT)

A report by the special inspector general for the Troubled Asset Relief Program says the Treasury has done a poor job of helping the housing markets. (NYT)

A board investigation into conduct by Best Buy’s (NYSE: BBY) former CEO Brian Dunn will continue. (NYT)

Spotify opens its streaming system to other websites. (FT)

Nokia (NYSE: NOK) may have to split its low-end handset business from its smartphone operations. (Bloomberg)

Douglas A. McIntyre