Media Digest 5/8/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, the head of strategy at Microsoft (MSFT) says it deal to acquire Yahoo! (YHOO) is over.

Reuters writes that Toyota (TM) posted a 28% drop in profit due to a strong yen and slow sales in the US.

Reuters writes that News Corp (NWS) sees economy hurting advertising.

Reuters writes that Sprint (S), Clearwire (CLWR), and several cable companies have created a venture to build a national wireless broadband network.

Reuters writes that News Corp (NWS) says it is not in deal talks with Yahoo!, Microsoft, or AOL.

The Walll Street Journal writes that the head economist in the White House sees no recession.

The Wall Street Journal writes that the president of Moody’s has resigned.

The Wall Street Journal says DirecTV (DTV) plans to raise $2.5 bilion for a stock buy-back.

The Wall Street Journal reports that Microsoft looked at buying Facebook.

The Wall Street Journal writes that Intel (INTC) still faces problems in getting WiMax accepted as a global broadband standard.

The Wall Street Journal writes that AMD (AMD) wlll come out with a new, more powerful line of chips.

The Wall Street Journal writes that the Chinese may take a stake in BHP Billiton (BHP) which could block its buy-out of Rio Tinto (RTP).

The Wall Street Journal writes that George Soros says the market will test its lows again.

The Wall Street Journal writes that the SEC will force brokerages to disclose their funding levels so that investor can get a better picture of how they are doing.

The Wall Street Journal writes that unlocked Apple (AAPL) iPhone are hurting some suppliers and carriers but are helping Apple earnings.

The Wall Street Journal writes that Merrill Lynch (MER) thinks the auction rate securites market will open up enough so investors will be able to get their cash out within a year.

The Wall Street Journal writes that the Take-Two (TTWO) video game "Grand Theft Auto IV" brought in $500 million during its first week of sales.

The New York Times writes that Blackrock (BLK) is managing $30 billion in Bear Stearns (BSC) funds. If they fall in value, the Fed will be stuck with the bill.

The New York Times writes that Delta (DAL) and Northwest (NWA) defended their merger in front of Congress.

The FT writes that the US and EU are united in trying to strengthen the dollar.

The FT writes that productivity rose more than expected.

The FT writes that MySpace will reach the ambitious revenue targets set for it by parent News Corp.

Douglas A. McIntyre