PRESS DIGEST - Wall Street Journal - Oct 8

Reuters

Oct 8 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* The Federal Reserve's decision to continue one of the mostaudacious experiments in monetary history - an $85billion-a-month bond-buying program designed to boost growth -followed six months of tense negotiations inside the centralbank, and a stumbling effort to let the public know what wasgoing on. ()

* Chronic electrical surges at the massive new data-storagefacility central to the National Security Agency's spyingoperation have destroyed hundreds of thousands of dollars worthof machinery and delayed the center's opening for a year. ()

* The International Monetary Fund proceeded with its record2010 bailout of Greece despite deep internal divisions overwhether it would work, according to confidential documents thatcontradict the fund's public statements. ()

* Alcatel-Lucent's 15,000 planned job cuts are thelatest step in its effort to reshape itself as a smaller companyfocused on a few core businesses. The money-losing company plansto announce Tuesday that it will cut the jobs, largely in oldertechnologies such as second- and third-generation wirelessequipment, said people familiar with the matter. ()

* Anxiety is spreading through financial markets in the second week of the partial federal-government shutdown, butseveral prominent money managers don't share it. ()

* JAL's decision to buy planes from Airbus upset the carrier's half-century relationship with Boeing. ()

* One of corporate India's largest takeover bids, a $2.5billion deal for Cooper Tire & Rubber, looksincreasingly precarious with the two sides trading accusationsover terms of the sale. India's Apollo Tyres Ltd askedits $35 a share bid be reduced substantially because of what itsees as increased costs arising from negotiations with the unionat two of Cooper Tire's U.S. factories and a disagreement withthe company's Chinese joint venture partner. ()

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