Media Digest 5/24/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

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Reuters:   China avoided a commitment on the yuan’s value during talks with the US.

Reuters:   A Senate committee will look at the UAL (NASDAQ: UAUA) merger with Continental (NYSE: CAL).

Reuters:   Geithner pushed the Chinese on open trade.

Reuters:   Barron’s says Sprint-Nextel (NYSE: S) shares could rise on its deployment of 4G.Reuters: American International Group (NYSE: AIG) may have an IPO of AIA if Prudential UK cannot close a deal.

Reuters:   China is looking that the Morgan Stanley Group (NYSE: MS) sale of it CICC shares.

WSJ:   Bond issuers still shop ratings agencies to get the best reviews.

WSJ:   Trouble in Europe has caused mortgage rates to fall sharply.

WSJ:   Prosecutors were unable to bring charges against AIG officials involved in investments that hurt the company.

WSJ:   British Airways crews began a five-day strike.

WSJ:   Financial reform could hurt financial firm earnings enough to bring down their ratings and capital.

WSJ:   Foreign firms are competing for contracts to upgrade China’s energy grid.

WSJ:   Congress is staying clear of deciding the fates of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE).

WSJ:   Rio Tinto (NYSE: RTP) says a new Australian tax will hurt it and is reviewing options.

WSJ:   A WSJ review of economists shows expectations of robust growth.

WSJ:   Gas prices stopped their rise.

NYT:   Bankers and analysts believe Wall St. reform will hurt profits but not restructure the industry.

NYT:   Smaller rivals are using privacy issues at Facebook to get more members.

NYT:   One-third of employers subject to major requirements of the new health care law may face tax penalties because they offer health insurance that could be considered unaffordable to some employees.

NYT:   Offshore drilling projects are moving ahead.

FT:   Public opinion is turning against The White House on its handling of the oil spill.

FT:   Bond issues have dropped because of problems in Europe.

Bloomberg:   China said it will move independently on the value of the yuan.

Bloomberg:   Stocks of banks in the UK and EU have dropped sharply due to exposure to financials in troubled Eurozone nation.

Douglas A. McIntyre