Media Digest (6/22/2011) Reuters, WSJ, NYT, FT, Bloomberg

The head of PIMCO expects that Greece and other EU nations will default. (Reuters)

The LulzSec group of hackers claims it will expand its attacks on private and government networks. (Reuters)

The Greek government passed a vote of no confidence and will try to negotiate a new deal with the eurozone and IMF. (Reuters)

JP Morgan (NYSE: JPM) paid a $153.6 million fine to the government to settle fraud charges. (Reuters)

The Alipay decision will probably be resolved among Yahoo!, (NASDAQ: YHOO), Softbank, and Alibaba (Reuters)

Ford (NYSE: F) will increase smartphone access to increase technology in cars. (Reuters)

AT&T (NYSE: T) believes its T-Mobile deal will be approved early next year. (Reuters)

The SEC may be more strict on foreign reverse mergers. (Reuters)

Bridgewater will start a new fund–Bridgewater Associates–which will push the firm’s total money managed above $100 billion. (WSJ)

The National Labor Relations Board will set standards to make it easier for workers to organize. (WSJ)

Defense companies expect government cuts in the sector to be slow .(WSJ)

Hulu may put itself up for sale. (WSJ)

Royal Philips Electronics said profits would fall. (WSJ)

Cigarette makers will add more graphic warnings to their labels. (WSJ)

US regulators are concerned about US money market funds which have invested in EU debt. (WSJ)

Geithner said negotiators are near a deal to cut the deficit by up to $5 trillion over the next decade. (WSJ)

The effects of QE2 were limited. (WSJ)

States may be forced to disclose more about underfunded pensions. (WSJ)

Pratt & Whitney has pressed more fierce competition for jet engines against rivals GE (NYSE: GE) and Rolls Royce. (WSJ)

Walgreen and Express Scripts are in a dispute over a joint venture that serves a large number of Americans. (WSJ)

Gannett (NYSE: GCI) will lay-off 700 people. (WSJ)

Some investors gambled they can make money on the preferred shares of Fannie Mae and Freddie Mac. (WSJ)

Fannie Mae and Freddie Mac failed to flag complaints about illegal mortgage activity. (NYT)

China expects a pick-up in inflation. (NYT)

The World Bank has encouraged developing nations to hedge food prices.(FT)

The IMF expressed concern about Spain’s financial future. (Bloomberg)

Douglas A. McIntyre