Media Digest 7/7/2010 Reuters, WSJ, NYTimes, FT, Bloomberg

Reuters:   BP plc (NYSE: BP) shares have recovered as a relief well nears the leak.

Reuters:   Saudi investors are seeking a 10% to 15% stake in BP.

Reuters:   Microsoft Corporation (NASDAQ: MSFT) will cut a small number of jobs.

Reuters:   Borders launched an e-book store.

Reuters:   Sony (NYSE: SNE) cut its e-reader price to better compete with the (NASDAQ: AMZN) Kindle and Barnes & Noble (NYSE: BKS) NookReuters:   Google Inc.’s (NASDAQ: GOOG) China website is being reviewed by the government.

Reuters:   China’s AgBank priced to be the largest IPO in history.

Reuters:   ICBC, one of China’s largest banks, may raise more money.

Reuters:   KKR will probably launch its IPO in mid-July.

WSJ:   Job benefits may cause the jobless to “pickier” in the job searches.

WSJ:   Steel production in falling, a sign that the economy is slowing.

WSJ:   Apple Inc (NASDAQ: AAPL ) said an app developer fraudulently set up several hundred iTunes accounts.

WSJ:   Japanese companies are redesigning products for emerging markets.

WSJ:   Google has increased its efforts to get more marketshare for its Chrome browser.

WSJ:   BP plc said it will not issue new equity.

WSJ:   VW added to its stake in Porsche.

WSJ:   The Obama home energy efficiency program may cause problems for real estate investors.

WSJ:   The UK is cutting its budget while the US is considering increasing its spending plan.

WSJ:   The EU said Monsanto cannot stop Argentine farmers who export seed with the company’s patented formula to Europe.

WSJ:   AT Kearny and Booz called off merger talks.

WSJ:   European governments are selling more property to bring in money.

NYT;   India is expanding its role as a drugmaker.

NYT:   UK inflation could hurt that nation’s recovery.

FT:   The Walt Disney Company (NYSE: DIS) will expand its language schools in China.

FT:   The earnings for global investment banks will drop sharply.

Bloomberg:   Samsung posted a record profit on chip sales.

Bloomberg:   China will put a resource tax on oil, gas, and coal on western sections of the country.

Bloomberg:   Microsoft Xbox sales probably broke $1 billion in the company’s last fiscal year.

Douglas A. McIntyre