Media Digest (6/1/2012) Reuters, WSJ, NYT, FT, Bloomberg

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China’s PMI indicates a considerable slowing of its economy. (Reuters)

Senior EC and ECB officials warn that the eurozone is on the brink of a calamity. (Reuters)

Problems at Research In Motion (NASDAQ: RIMM) cause BlackBerry users to abandon it for other devices. (Reuters)

Many Wall St. indices close the month down nearly 6%. (Reuters)

Facebook’s site suffers brief outage. (Reuters)

Federal officials use powers from Dodd-Frank to increase reviews of JP Morgan’s (NYSE: JPM) trading practices. (WSJ)

Formula One delays its Singapore IPO. (WSJ)

Google (NASDAQ: GOOG) accuses Microsoft (NASDAQ: MSFT) and Nokia (NYSE: NOK) of helping set up companies to undermine Google’s IP position and using of technology that may have patents from other sources. (WSJ)

TV networks warn that companies that stream their shows online will hurt the networks’ prospects. (WSJ)

Student loan debt hits $904 billion. (WSJ)

Spain says it has until October to raise $23.5 billion for the Bankia bailout. (WSJ)

General Electric (NYSE: GE) lowers its business exposure in Europe by cutting back operations. (WSJ)

Honda (NYSE: HMC) boosts its plans to increase U.S. sales. (WSJ)

Google’s free product search operation will become a paid one. (WSJ)

Microsoft releases a more complete version of Windows 8. (WSJ)

Treasury yields become a new “fear gauge” for the markets. (WSJ)

BP (NYSE: BP) will sell its part of Russian operation TNK-BP. (WSJ)

Facebook sets a system to show ads when members “like” a product. (NYT)

A Pfizer (NYSE: PFE) executive will take over WebMD (NASDAQ: WBMD). (NYT)

Over 100 billion euro deposits flee Spain. (FT)

Merkel’s opposition to a new EU region bailout leaves her with little support from the region’s leaders. (Bloomberg)

Douglas A. McIntyre