Media Digest (2/24/2012) Reuters, WSJ, FT, Bloomberg
February 24, 2012 by Douglas A. McIntyre
Steve Wynn pushes major shareholder Kazuo Okada off the board of Wynn Macau. (Reuters)
AIG (NYSE: AIG) makes a large profit on portfolio gains. (Reuters)
Apple’s (NASDAQ: AAPL) legal fight with Proview International moves to the U.S. courts. (Reuters)
The U.S. Postal Service plans to cut 35,000 jobs. (Reuters)
Sears Holdings (NASDAQ: SHLD) will sell assets to improve its balance sheet, but worries about its core retail business have not changed. (Reuters)
Federal prosecutors are prepared to file charges against BP (NYSE: BP) for many errors that caused the Deepwater Horizon catastrophe. (WSJ)
Apollo Global Management (NYSE: APO) is close to a deal to buy El Paso’s (NYSE: EP) oil and exploration business for $7 billion. (WSJ)
Dish Network (NYSE: DISH) will enter the mobile communications business. (WSJ)
The Committee for a Responsible Federal Budget says most Republican presidential candidates have suggested programs that would add to the federal debt. (WSJ)
China objects to a European investigation of its steel trade practice, which raises concerns that financial aid to the region may involve concessions on China exports to the region. (WSJ)
Procter & Gamble (NYSE: PG) to cut more than 4,000 jobs. (WSJ)
T-Mobile to spend $4 billion to upgrade its network to faster wireless service. (WSJ)
Quarterly results from EU-based banks show how badly the debt crisis has hurt them financially. (WSJ)
Bank of America (NYSE: BAC) will stop selling loans to Fannie Mae based on a disagreement about how delinquent mortgages should be handled. (WSJ)
European creditor nations set a large number of tax and spending conditions for Greece to receive aid. (FT)
The World Bank and Chinese economists say the nation must change currency policies and open its markets or risk a sharp slowdown. (FT)
Spain asks the EU to ease its deficit targets. (FT)
The U.S. will plant more crops this year, which should ease global price increases. (FT)
Oil prices are set to have their longest string of increases since 2008. (Bloomberg)
European officials to ask other large nations to put more money into the International Monetary Fund. (Bloomberg)
Douglas A. McIntyre
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