Media Digest 5/22/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, the Fed lower growth expectations and noted rising inflation.

Reuters writes that AMR (AMR) will sharply cut the number of routes its serves and take certain planes out of service.

Reuters writes that AIG (AIG) faces a lawsuit from a Florida pension fund.

Reuters reports that Moody’s (MCO) launched an investigation into a computer problem which caused inaccurate ratings.

Reuters reports that a break-through in the success of mobile advertising may be years away.

The Wall Street Journal writes that the International Energy Agency has may cut its estimates of oil production, a move that may take oil prices higher.

The Wall Street Journal writes that Calprine has received a $22 billion offer to be bought by NRG.

The Wall Street Journal writes that a Canadian court rejected the buy-out of BCE (BCE) siding with sharedholders who think the deal is unfair.

The Wall Street Journal says that UBS (UBS) set its $15.5 billion rights issue at a share discount to it share price.

The Wall Street Journal says that the sale of its appliance units comes in a difficult economic period.

The Wall Street Journal say that the head of Boeing (BA) claims that the airline is making good progress with the 787.

The Wall Street Journal writes that Sallie Mae will continue its lending.

The Wall Street Journal writes that the prices of solar energy stocks may be getting ahead of themselves.

The Wall Street Journal reports that Pfizer’s (PFE) drug Chantix has been tied to heart problems.

The Wall Street Journal reports that Ford (F) will cut production of SUVs and pick-ups.

The Wall Street Journal reports that Senators are asking Sirius (SIRI) and XM (XMSR) to release some spectrum to create possible competition.

The New York Times writes that Senators had sharp questions for oil officials about the size of their profits.

The New York Times reports that high oil prices are increasing coal production.

The New York Times writes that Google (GOOG) will defend the competitive rationale of a tie-up with Yahoo! (YHOO).

The FT writes that British Airways has asked Continental (CAL) to join its alliance of global airlines.

The FT reports that mapping looks like the next big business on the internet.

Douglas A. McIntyre