Media Digest (7/16/2012) Reuters, WSJ, NYT, FT, Bloomberg

GlaxoSmithKline (NYSE: GSK) will take over Human Genome Sciences (NASDAQ: HGSI) for $2.8 billion. (Reuters)

A poll from the National Association for Business Economics shows few companies plan to hire new workers. (Reuters)

Lenovo may overtake Hewlett-Packard (NYSE: HPQ) and Dell (NASDAQ: DELL) as the largest PC company in the world. (Reuters)

The Consumer Financial Protection Bureau probably will begin to supervise credit reports. (Reuters)

Nokia (NYSE: NOK) cuts the price of its Lumia 900 flagship phone in the United States. (Reuters)

Google’s (NASDAQ: GOOG) new tablet boasts fast sales at large retailers. (Reuters)

General Motors (NYSE: GM) likely will keep its Opel operations in Europe. (Reuters)

Increases in wages in China could help the nation avoid a sharp economic slowdown. (WSJ)

Chesapeake Energy (NYSE: CHK) begins to renegotiate leases. (WSJ)

Governors press for more taxes on online sales to help them with deficits. (WSJ)

Angela Merkel says it has not been decided who carries the liability for future EU bailouts. (WSJ)

Microsoft (NASDAQ: MSFT) pressures Google’s business app products. (WSJ)

Earnings for Schlumberger (NYSE: SLB) and Baker Hughes (NYSE: BHI) likely will be hurt by low oil prices. (WSJ)

Boeing (NYSE: BA) and Airbus begin what may become a price war as more airlines need fewer planes. (WSJ)

The Tribune Company will come out of Chapter 11. (NYT)

Large investors often get analyst opinions on earnings ahead of the public. (NYT)

Apple (NASDAQ: AAPL) may launch a smaller tablet to compete with small ones made by Google and (NASDAQ: AMZN). (NYT)

Universal may have to sell part of EMI to close a deal to buy it. (NYT)

China lowers taxes on foreign companies. (FT)

Wall St. firms increase their oil trading activity. (FT)

Merkel’s own party may oppose German efforts to help Spanish banks. (FT)

Management of JP Morgan Chase (NYSE: JPM) now says traders who made huge losses did so without authority. (Bloomberg)

Modest sales in China will hurt earnings at Microsoft and Intel (NASDAQ: INTC). (Bloomberg)

Douglas A. McIntyre

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