Media Digest (8/3/2012) Reuters, WSJ, NY Times, FT

The jobs situation may have been weak enough to spur Fed action. (Reuters)

As Facebook Inc. (NASDAQ: FB) shares fall, insiders will be able to sell shares. (Reuters)

GlaxoSmithKline PLC (NYSE: GSK) finishes its $3 billion dollar buyout of Human Genome Sciences. (Reuters)

The European Central Bank’s lack of action on sovereign bonds rocks the markets. (WSJ)

Losses at Royal Bank of Scotland Group PLC (NYSE: RBS) top $3 billion. (WSJ)

Knight Capital Group Inc. (NYSE: KCG) will open its books to try to find a partner or acquirer after $440 million in losses due to botched trades. (WSJ)

Facebook shares drop below $20. (WSJ)

General Motors Co. (NYSE: GM) earnings are badly hurt by Europe. (WSJ)

Apple Inc. (NASDAQ: AAPL) has become a force in the game business because of the size of its app store and the number of iPhones and iPads in the market. (WSJ)

Oracle Corp. (NASDAQ: ORCL) will get $300 million from SAP AG (NYSE: SAP) to settle patent claims. (WSJ)

Target Corp. (NYSE: TGT) and Macy’s Inc. (NYSE: M) were among the few retailers to post good sales improvements. (WSJ)

LinkedIn Corp. (NYSE: LNKD) posts strong earnings. (WSJ)

Comcast Corp. (NASDAQ: CMCSA) and Time Warner Cable Inc. (NYSE: TWC) move away from TV products and toward high-speed broadband. (WSJ)

Efforts by the ECB to buy European bonds have been partially blocked by Germany. (WSJ)

Strong quarterly numbers help lift Toyota Motor Corp. (NYSE: TM), which upped forecasts. (NYT)

Yields on Spain’s bonds rise on concerns about ECB actions. (FT)

JAL initial public offering will raise $8.5 billion. (FT)

Douglas A. McIntyre