Xbox 360 logoPresident Obama suggests cuts in Social Security and Medicare to end a battle over budget cuts. (Reuters)

Bristol-Myers Squibb Co. (NYSE: BMY) may try a large acquisition to improve its fortunes. (WSJ)

Spending among wealthy households rises with stock market gains and higher wages, as lower income households struggle with high gasoline prices and higher taxes. (WSJ)

Worse-than-expected budget data causes Portugal to ask for better bailout terms. (WSJ)

Global app revenue will rise 62% to $25 billion this year. (WSJ)

A modest drop in oil prices may help Exxon Mobil Corp.'s (NYSE: XOM) M&A efforts. (WSJ)

Google Inc. (NASDAQ: GOOG) may move into desktops with Android and disrupt the profits of Intel Corp. (NASDAQ: INTC) and Microsoft Corp. (NASDAQ: MSFT). (WSJ)

Budget cuts may hurt jobs but are unlikely to harm corporate profits or the stock market. (NYT)

The reasons for many cyber attacks are not known. (NYT)

Transocean Ltd. (NYSE: RIG) may reinstate its dividend. (FT)

The sales of the Fiat 500 moved ahead of the Mini. (Bloomberg)

China luxury car sales could move ahead of those in the United States by 2016. (Bloomberg)

Apple Inc.'s (NASDAQ: AAPL) iWatch product could make more than its foray into TV. (Bloomberg)

Filed under: 24/7 Wall St. Wire, Press Digest Tagged: AAPL, BMY, GOOG, INTC, MSFT, RIG, XOM

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