Media Digest (6/4/2012) Reuters, WSJ, NYT, FT, Bloomberg

The European Union may form a central office of treasury to match the European Central Bank. (Reuters)

Ford (NYSE: F) may create brands specific to the Chinese market. (Reuters)

The slowing economy hurts U.S. earnings forecasts. (Reuters)

Brent crude reaches a 16-month low. (Reuters)

Nintendo launches a MilVerse network for social gaming. (Reuters)

Facebook may offer access for younger children. (WSJ)

The Samsung Galaxy S III will use the same brand name for AT&T (NYSE: T), Sprint-Nextel (NYSE: S), Verizon Wireless and T-Mobile. (WSJ)

The federal government to probe oversight systems at JP Morgan (NYSE: JPM). (WSJ)

Germany may support eurowide bonds if weak nations transfer some of their financial oversight to Europe. (WSJ)

The European Commission supports plans for national governments to seize their weak banks. (WSJ)

China may step up its use of nuclear power, in part to create an industry to bolster the economy. (WSJ)

Google (NASDAQ: GOOG) will release a new set of ad products aimed at the local market. (WSJ)

The Starboard Value Fund gets backing from shareholder rights firm ISS for two of its investors to join the AOL (NYSE: AOL) board. (WSJ)

Aubrey McClendon, the CEO of Chesapeake Energy (NYSE: CHK), and Carl Icahn are likely to battle at the company’s annual meeting. (WSJ)

Volkswagen plans to increase its presence in China. (WSJ)

TV networks get higher rates from advertisers this season, although General Motors (NYSE: GM) has resisted. (WSJ)

Just before Bank of America (NYSE: BAC) bought Merrill Lynch, it was warned of huge losses at the investment firm but did not tell shareholders. The losses were part of the reason the bank needed at $20 billion bailout. (NYT)

Shareholder advocates asked JP Morgan to improve risk management before its huge losses. (NYT)

As newspapers cut the number of days that they publish to save money, some readers may leave. (NYT)

MF Global employees tell federal officials that they warned about the firm’s activities just before it went bankrupt. (NYT)

Spain’s prime minister, Mariano Rajoy, suggests more central EU power over national finances. (FT)

Yum! Brands (NYSE: YUM) increases its efforts in India and China in a challenge to McDonald’s (NYSE: MCD). (FT)

Cross-border lending drops to levels close to those after the Lehman Bros disaster. (Bloomberg)

The head of Toyota (NYSE: TM), Akio Toyoda, says his company will be hurt by the yen’s value and slow growth in Europe. (Bloomberg)

The head of AIG (NYSE: AIG) says retirement ages may be forced as high as 80 because of economic problems. (Bloomberg)

Spain’s unemployment rate falls slightly. (Bloomberg)

Douglas A. McIntyre