PRESS DIGEST - Wall Street Journal - Oct 10

Reuters

Oct 10 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* The partisan logjam showed signs of easing asconservatives warmed to the idea of a short-term increase in thecountry's borrowing limit and House GOP leaders prepared for ameeting with President Obama. ()

* Janet Yellen, if confirmed to lead the Federal Reserve,faces the difficult task of defining when the central bank willstep back from the expansive monetary programs employed over thepast six years to salve the crisis-racked economy. ()

* Marketers are finally convinced that there's money to bemade advertising to the legions of consumers glued to theirsmartphones and tablets. Spending on mobile ads more thandoubled in the first half of the year. ()

* Pimco held government-related holdings at the world'slargest bond fund steady in September as the U.S. bond market'sprice rebounded last month. ()

* The market in which banks and other financial firms obtainshort-term funding is becoming strained - the latest sign ofrising investor anxiety over the debt battle. ()

* Meredith Whitney, one of Wall Street's best-known and mostcontroversial research analysts, is getting out of the researchbusiness, following the departure of numerous clients andemployees. Whitney is closing the research part of her firmafter four years and next month plans to start a hedge fund,according to her attorney, Stanley Arkin. ()

* A premature exit by the U.S. Federal Reserve from its easymoney policies could cause $2.3 trillion in global bondportfolio losses, the International Monetary Fund warnedWednesday. ()

* About 20 percent of the people who were warned over atwo-year period that they might be sued by U.S. regulators forallegedly violating securities law ended up not facing charges,government figures show. The previously undisclosed numberstrack the Securities and Exchange Commission's use of a powerfulenforcement tool - called a Wells notice - to alert people thatthe agency might take enforcement action. ()

* The investor retreat from the once lucrative currencytrading arena passed a milestone Wednesday with the closure of afirm that once was the largest of its sort, FX Concepts. The NewYork firm, whose assets under management shriveled to $660million last month, from $14 billion at the dawn of thefinancial crisis, will close its asset-management business overthe next few weeks and return money to investors, the companysaid in a statement. ()

* Several of the world's largest banks have scoured throughemails and other electronic communications of employees inresponse to probes by European regulators into suspectedmanipulation of foreign-exchange markets, according to peoplefamiliar with the matter. ()

* Hedge fund Barington Capital Group LP, along with otherinvestors, has taken a 2.8 percent stake in Darden RestaurantsInc, the owner of Olive Garden, Red Lobster and sixother restaurant chains. The fund is pushing for Darden to formtwo separate companies, among other changes, according to peoplefamiliar with the matter. ()

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