This is what’s in the news for Thursday May 31, 2012. The Wall Street Journal reports AT&T (NYSE:T), Google (NASDAQ:GOOG), Microsoft (NYSE:MSFT) and Intel (NASDAQ:INTC) are backing a U.S. effort to block a UN agency from extending its powers to the Internet which could increase costs for U.S. corporations offering online services abroad. Reuters reports US Airways Group (NYSE:LCC) and TPG Capital may join to bid for American Airlines’ parent, AMR Corp. (AAMRQ), sources say. Bloomberg reports Nasdaq OMX Group’s (NASDAQ:NDAQ) handling of Facebook’s (NASDAQ:FB) IPO has led to lawsuits and may cost brokers $100M, but what SEC officials will want to know is whether the market operator put the public’s interest first. Finally, Bloomberg also reports Gold is poised for the worst run of monthly losses in almost 13 years as concern that Europe’s fiscal crisis is escalating drove investors to seek the dollar as a haven over the precious metal. In terms of oil, the fossil fuel was poised for the biggest monthly drop in more than three years in New York on speculation Europe’s worsening debt crisis and a slowing U.S. economy will reduce fuel demand.
