Media Digest (5/23/2012) Reuters, WSJ, FT, Bloomberg

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Merkel and Hollande will fight over stimulus for the eurozone at the EU summit. (Reuters)

The OECD expresses concerns that Europe could slip into a deep recession. (Reuters)

The EU debt crisis pushes global shares lower. (Reuters)

Morgan Stanley (NYSE: MS) cuts its Facebook (NASDAQ: FB) ratings just before the IPO. (Reuters)

Sony (NYSE: SNE) and Samsung try to get retailers to discount their TVs less. (WSJ)

AOL’s (NYSE: AOL) Patch local website project continues to draw the ire of investors. (WSJ)

The Congressional Budget Office says that gridlock in DC could cause a recession in 2013. (WSJ)

SAP (NYSE: SAP) will buy Ariba (NASDAQ: ARBA) for $4.3 billion. (WSJ)

South Korea will continue to import oil from Iran despite U.S. and EU sanctions over the Iran weapon’s program. (WSJ)

The International Monetary Fund says the UK needs to create stimulus programs. (WSJ)

Dell’s (NASDAQ: DELL) earnings are hurt as it attempts to move beyond PCs as its major line of sales. (WSJ)

Ford’s (NYSE: F) credit rating is upgraded from “junk” status. (WSJ)

CalSTRS, the second-largest U.S. public pension fund, will vote against Walmart (NYSE: WMT) directors in the wake of a bribery scandal. (FT)

EU banks would be damaged if Greece leaves the eurozone, as they have almost $1.2 trillion in debt from Spain, Portugal, Italy and Ireland. (FT)

Mazda and Fiat to build a sports car. (Bloomberg)

Douglas A. McIntyre