Media Digest (7/13/2011) Reuters, WSJ, NYT, FT, Bloomberg

China’s GDP grew at a 9.5% rate last quarter and the country increased inflation forecasts (Reuters)

Moody’s cut Ireland’s rating to junk (Reuters)

EU leaders may let Greece default (Reuters)

Netflix (NASDAQ: NFLX) raised most prices by 60% (Reuters)

Investors will watch Google’s (NASDAQ: GOOG) expense level after a busy quarter (Reuters)

Electronic Arts (NASDAQ: ERTS) bought PoPCap for $750 million (Reuters)

The UK parliament will vote against the News Corp (NYSE: NWS) takeover of BSkyB (Reuters)

EU banks have begun to prepare for the costs of defaults or write downs of the region’s bonds (WSJ)

Verizon (NYSE: VZ) has pressed it unions for concessions (WSJ)

The Bank of Japan raised estimates of a rebound (WSJ)

Research In Motion’s (NASDAQ: RIMM) board was reelected (WSJ)

Yahoo! (NASDAQ: YHOO) will try to use entertainment sites and popular blogs to increase traffic (WSJ)

M&A and buyouts have kept the junk bond market healthy (WSJ)

The EU says it will back banks that fail stress tests (NYT)

Carriers that felt threatened by Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOG) Android may help RIM (NYT)

A U.S. Senator calls for an investigation into illegal activity by News Corp (FT)

News Corp has been pressured to reform its board (FT)

The cost of Italy’s debt offerings rose (FT)

Corn is being used more for ethanol than food (FT)

French banks face great risk from a Italian default (Bloomberg)

Spain may need deeper spending cuts to help its budget problem (Bloomberg)

JP Morgan (NYSE: JPM) and Citigroup (NYSE: C) will struggle to move revenue higher (Bloomberg)

Douglas A. McIntyre