Media Digest (5/4/2012) Reuters, WSJ, NYT, FT, Bloomberg

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Facebook sets its IPO to raise more than $10 billion. (Reuters)

The California State Teachers’ Retirement System (CalSTRS) files suit against Walmart (NYSE: WMT) over bribery allegations in Mexico. (Reuters)

Greek elections could reverse much of what the nation did to get bailout funds. (Reuters)

Yahoo!’s (NASDAQ: YHOO) board says it will review mistakes in the resume of its CEO. (Reuters)

Bank of America (NYSE: BAC) may settle claims by former Merrill Lynch brokers over pay. (WSJ)

Goldman Sachs (NYSE: GS) will launch a low-cost electronic bond-trading program to compete with BlackRock (NYSE: BLK). (WSJ)

Chesapeake Energy (NYSE: CHK) says government officials had begun an informal investigation into the pay package of its CEO. (WSJ)

The Obama Administration will set new environmental safety rules for hydraulic fracturing on federal land. (WSJ)

General Motors’ (NYSE: GM) recovery is hurt badly by Europe. (WSJ)

New Samsung Galaxy phones represent more challenges to the Apple (NASDAQ: AAPL) iPhone. (WSJ)

The head of the European Central Bank says higher taxes could hurt the region’s recovery. (NYT)

The ECB’s president expects a recovery in the region this year. (FT)

The launch of an Apple TV may help it compete more effectively with Samsung. (FT)

LinkedIn (NYSE: LNKD) sales and profits surge. (Bloomberg)

Douglas A. McIntyre