Media Digest 5/29/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

May 29, 2008 by Douglas A. McIntyre

According to Reuters, Yahoo! (YHOO) says Microsoft (MSFT) is not longer anxious for a merger.

Reuters said Exxon (XOM) investors voted to keep the chairman and CEO jobs together.

Reuters reports that China will put in a windfall profits tax to keep prices from rising.

The Fed may raise rates to keep inflation down.

Clear Channel (CCU) said its buy-out would close in Q3.

The Wall Street Journal writes that oil production from exporters can no match demand.

The Wall Street Journal writes that Dow Chemical (DOW) increased prices of some products up to 20%.

The Wall Street Journal writes that the SEC will propose rules for credit rating agencies to create a new set of graded for complex financial  instruments.

The Wall Street Journal writes that Heinz will raise its forecasts.

The Wall Street Journal reports that the head of United (UAUA) will meet with the head of US Air (LCC).

The Wall Street Journal writes that GM (GM) is preparing to cut costs.

The Wall Street Journal reports that the FCC may ask the winner of future airwave auctions to offer free interenet.

The Wall Street Journal writes that Boston Scientific (BSX) will pay Medtronic for patent infringement.

The New York Times writes that UPS (UPS) and DHL may have a joint cargo shipment deal.

The FT writes that investors are preparing for a US rate increases.

The FT writes that banks are launching a central clearing house for derivatives.

The FT writes that company treasurers are turning to money managers for better returns.

Douglas A. McIntyre