Media Digest 5/14/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

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Reuters:   The Senate backed restrictions on credit rating agencies and credit card fees.

Reuters:   Oil dropped to a three-month low based on demand.

Reuters:   Facebook will hold a staff meeting on privacy.

Reuters:   Video game sales plunged in April.

WSJ:   The Goldman Sachs Group (NYSE: GS) is trying to help a Chicago group that loans to the poor.

WSJ:   The costs of the A380 hurt that financial results of EADS.

WSJ:   Regulators are investigating whether banks bet that municipal bonds would fail.

WSJ:   The CEO of BP plc (NYSE: BP) says his company could have done more to prevent a spill in the Gulf.

WSJ:   Large sums of capital are being invested in China.

WSJ:   Attorneys are fighting for the lead in the Toyota Motors (NYSE: TM) case.

WSJ:   The yen’s strength is hurting exporters.

WSJ:   Portugal will increase taxes and cut civil servant salaries.

WSJ:   Mahindra & Mahindra of India will enter the US car market.

WSJ:   Wireless rivals are increasing pre-paid services.

WSJ:   Video game sales in April dropped more than any month since July.

WSJ:   Nissan may press for expansion in China.

WSJ:   Blockbuster Inc.  (NYSE: BBI) posted weak earnings.

WSJ:   A Chinese energy firm will begin explore oil sands in Canada.

WSJ:   Rising inflation in Europe may hurt bailouts.

WSJ:   Industrial stocks like GE (NYSE: GE) and Honeywell still face headwinds.

WSJ:   E*Trade (NASDAQ: ETFC) shareholders approved a reverse split.

NYT:   The Minerals Management Service allowed companies to drill in the Gulf without permits.

NYT:   The size of the oil spill was underestimated.

NYT:   Cellphones are now used more for data than for voice.

NYT:   Oil laws will hurt Portugal’s efforts to balance it budget.

NYT:   It looks more likely that banks will settle charges about improper conduct.

FT:   Restrictions on hedge fund may cause tension between the US and EU.

FT:   Worries about the bailout have hurt the euro.

FT:   Adobe Inc. (NASDAQ: ADBE) is battling back against Apple Inc. (NASDAQ: AAPL) over Flash.

Bloomberg:   Morgan Stanley (NYSE: MS) bet against CDOs that it invented.

Bloomberg:   US firms have been able to dodge $60 billion in taxes by moving money overseas.

Bloomberg:   Volcker says the debt crisis may cause Europe to “disintegrate”

Douglas A. McIntyre