Media Digest (5/24/2011) Reuters, WSJ, NYT, FT, Bloomberg

Experts say a Greek default would harm other EU nations and banks. (Reuters)

Several insurers face large losses because of US weather damage. (Reuters)

AIG (NYSE: AIG) will price shares to be sold to cut the Treasury’s holding in the insurance company. (Reuters)

EU debt concerns drop Wall St to a one month low. (Reuters)

Sony’s (NYSE: SNE) shares rose as investors hoped most of the bad news about the company is out. (Reuters)

IBM (NYSE: IBM) passed Microsoft (NASDAQ: MSFT) in market cap. (Reuters)

Weak demand will hurt the IPO of Glencore. (Reuters)

Saudi Arabia will have to begin to drill for heavy oil as its light crude reserves fall. (WSJ)

The SEC has picked up the pace of its investigation into forex trades made by banks for their customers. (WSJ)

A Greek default would cause a downgrade of the debt of other EU nations, according to several experts. (WSJ)

Liberty said its bid for Barnes & Noble (NYSE: BKS) was motivated by the-reader and e-book businesses. (WSJ)

Moody’s said UK banks may face downgrades. (WSJ)

Russian search engine Yandex hopes to have a hot IPO like LinkedIn’s.  (WSJ)

The head of Ebay (NYSE: EBAY) said the company is looking for M&A targets. (WSJ)

Greece said it would quicken the sale for $70 billion in assets. (WSJ)

Chrysler will announce the repayment of $7.5 billion due to the US and Canadian governments. (WSJ)

A panel appointed by Toyota (NYSE: TM) said the company needed more outside director.s (WSJ)

Spain will soon have an IPO of it national lottery business. (WSJ)

A drop in China imports pressed copper down. (WSJ)

Small banks have lobbied to keep new regulations of them limited because of their modest resources. (NYT)

Target (NYSE: TGT) is the target of union action because of low pay. (NYT)

A fight among EU nations about Greece’s future has gotten worse. (NYT)

Sales of a new Lady Gaga album slowed Amazon.com’s (NASDAQ: AMZN) e-commerce system. (NYT)

Investors fear contagion could hit Spain and Italy. (FT)

Two senior Walmart (NYSE: WMT) China executives left the company. (FT)

The New York Attorney General has accelerated an investigation into mortgage package sales. (FT)

Goldman Sachs (NYSE: GS) recommended the purchases of commodities after a sharp sell off. (Bloomberg)

Tight money could constrain China growth. (Bloomberg)

Douglas A. McIntyre