PRESS DIGEST - Wall Street Journal - Nov 1

Reuters

Nov 1 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* Before JPMorgan acquired the banking operations ofWashington Mutual, the bank's lawyers tangled with regulatorsover the wording of the agreement. Five years later, JPMorganand the Federal Deposit Insurance Corp are still fighting overthe meaning of those words. The question of who bearsresponsibility for Washington Mutual's legal liabilities istaking on increasing urgency as J.P. Morgan negotiates a pactwith the Justice Department that would end probes of souredmortgage bonds issued by J.P. Morgan and Washington Mutualduring the housing boom. ()

* By the year-end, most airline passengers will be able touse their tablets, e-readers and other gadgets during all stagesof flight. The Federal Aviation Administration's decision, itsfirst big shift on electronic devices since it restricted theiruse in flight in 1966, caps years of debate over whetherelectronic emissions from devices can interfere with cockpitinstrument.()

* The CFTC is so cash starved that it is being forced todelay cases, shelve certain probes and decided not to filecharges against two men in the "London whale" trading mess, atop official said. ()

* Euro-zone inflation fell to its lowest in almost fouryears, raising pressure on the ECB to ease money supply andsupport the recovery. ()

* Germany described as "incomprehensible" U.S. criticism ofits export-led economic policies, saying the country's domesticeconomy is the main pillar of its growth. ()

* Goldman Sachs Group Inc scored some points withregulators with a loan to a New York City bicycle-sharingprogram named after rival Citigroup Inc. The $41 millionloan to the Citigroup bike program was part of $2 billion inloans and investments made by the Wall Street bank from October2010 until December 2012 to comply with U.S. rules designed toensure financial services reach low- and middle-incomeneighborhoods, according to a recent regulatory review of thebank's adherence to the Community Reinvestment Act. ()

* The way things are going, the term "cable TV" may have tobe replaced by "phone TV." Nearly a decade after VerizonCommunications Inc and AT&T Inc began buildingpipelines to carry TV service to U.S. homes, they are nearingthe market share of cable operators in areas where they operate,according to third-quarter results released by cable and phonecompanies in recent days. ()

* In the wake of a major immigration-law violation caseinvolving Indian outsourcing giant Infosys Ltd,federal agents are investigating other companies for possiblesimilar alleged misdeeds, according to an official with theDepartment of Homeland Security. ()

* Fannie Mae sued nine of the world's largestbanks over alleged manipulation of interest rates, joining thelegal battles in the rate-rigging scandal. The lawsuit, filedThursday in U.S. District Court in Manhattan, said that themortgage-finance giant sustained an estimated $800 million indamages from banks that allegedly manipulated the Londoninterbank offered rate and other financial benchmarks. Fanniealso sued the British Bankers' Association, a privateassociation of large British banks. ()

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