Media Digest 5/16/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, Carl Ichan will fight to get Yahoo! (YHOO) to accept Microsoft’s (MSFT) bid.

Reuters writes that the Senate has reached an agreement on a housing rescue.

Reuters reports that Warren Buffett will pul out of the RBS (RBS) insurance sale.

Reuters writes that Fannie Mae (FNM) will change its down payment policy.

Reuters reports that the Fed is seeing some healing of the credit markets.

Reuters writes that Yahoo and WPP has entered into an agreement for the ad agency to buy from the portal’s ad inventory.

The Wall Street Journal reports that the FAA is looking to why AMR (AMR) skipped certain safety inspections.

The Wall Street Journal writes that US refineries are producing more diesel because of its profit margin and demand is growing in the developing world.

The Wall Street Journal writes that an Eli Lilly (LLY) drug has been shown to slow lung cancer.

The Wall Street Journal reports that RIM (RIMM) is producing a product to compete with the Apple (AAPL) iPhone.

The Wall Street Journal writes that a home building recover is still on hold.

The Wall Street Journal writes that airline mergers are being considered riskier but United (UAUA) and US Air (LCC) are still talking.

The New York Times writes that oil moved up after a volatile session.

The FT writes that Blackstone (BX) has begun to focus on depressed assets.

Bloomberg writes that profits at British Airways almost doubled.

Bloomberg also reports the the price of rice dropped sharply as supplies increase.

Douglas A. McIntrye