Media Digest (7/18/2011) Reuters, WSJ, NYT, FT, Bloomberg

Democrats and Republicans are not closer to a deal on the debt ceiling (Reuters)

The hacking scandal has pushed News Corp’s shares (NYSE: NWS) even lower (Reuters)

Moody’s suggested that the U.S. eliminate its debt ceiling (Reuters)

A flight to safety raised the price of gold and the Swiss franc (Reuters)

Shares of HTC dropped because of patent rulings against it on Apple Inc. (NASDAQ: AAPL) intellectual property (Reuters)

Apple fixed securities flaws in the iPad and iPhone (Reuters)

Reader’s Digest has begun to seek buyers (Reuters)

U.S. banks have exposure to personal and business loans in troubled southern EU nations (WSJ)

Rebekah Brooks, former News Corp executive, was arrested in the hacking scandal (WSJ)

Borders Group is about to be liquidated (WSJ)

Employment in the wireless industry has fallen despite the industry’s growth (WSJ)

A Universum survey shows business school graduates prefer tech companies (WSJ)

Royal Philips Electronics NV earnings were hurt by soft demand for most of its products (WSJ)

Italy will try to increase its economic production to be closer to that of the eurozone (WSJ)

The government may set an arrangement to speed up union-organizing elections, a proposal that businesses want to kill (WSJ)

Harry Potter ticket sales reach $168.6 million — the largest film opening of all time (WSJ)

Royal Dutch Shell will sell its ownership in a pipeline in northern Canada (WSJ)

Time Warner’s (NYSE: TWX) CNN and HLN will stream programs over the Internet (WSJ)

Investors in U.S. debt have begun to move money into assets considered less risky (WSJ)

As coffee prices rise, buyers have begun to set deals with individual farmers (WSJ)

Fast frequency traders will try to offer more disclosure to blunt accusations that they hurt the market (NYT)

Grocery stores offer large quantity packages at reasonable prices to bring in shoppers (NYT)

Twitter apps makers are often not sure whether they are suppliers or competitors (NYT)

The ECB and Germany’s Angela Merkel fought over the Greek bailout (FT)

Millions of tons of steel made in China may not have been counted by the government (FT)

General Mills (NYSE: GIS) claims ethanol development has caused food inflation (FT)

The demand for aircraft by U.S. airlines may be too great for Airbus and Boeing (NYSE: BA) to handle short term (FT)

E&Y cut its estimates for UK growth (Bloomberg)

Analysts believe EU stress tests were not adequate (Bloomberg)

Douglas A. McIntyre