PRESS DIGEST - Wall Street Journal - Nov 21


Nov 21 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.

* Investigators looking into how a government fundingdecision got to investors early are struggling over how todistinguish between illegal insider tips and accuratepredictions based on research and analysis. ()

* The U.S. and Afghanistan said they ironed out the finaldisputes over the agreement on long-term American presence, justhours before the Loya Jirga assembly was convening to considerthe deal. ()

* Federal Reserve officials, mindful of a still-fragileeconomy, are laboring to devise a strategy to avoid anotherround of market turmoil when they pull back on one of theirsignature easy-money programs in the months ahead. ()

* A complex bet in the foreign-exchange market backfired onGoldman Sachs Group Inc during the third quarter,contributing to a revenue slump that prompted senior executivesto defend the firm's trading strategy. ()

* Blackstone Group is about to unleash a seasonedturnaround specialist on some of the private equity giant's 77companies. ()

* A complex bet in the foreign exchange market backfired onGoldman Sachs during the third quarter, contributing to arevenue slump that prompted senior executives to defend thefirm's trading strategy. ()

* A preliminary gauge of China's manufacturing activityshowed a mild weakening of growth momentum in November, weigheddown by sluggish new export orders, and suggesting thethird-quarter rebound in the world's second-largest economy maybe losing steam. ()

* The White House won't support plans to recapitalize FannieMae and Freddie Mac because they don'taddress core concerns over having two large entities dominatethe nation's $10 trillion mortgage market, said the president'stop economic adviser. ()

* One morning this month, agents from the Federal Bureau ofInvestigation showed up unannounced at the home of a NewYork-based currencies trader for Deutsche Bank AG.

The agents showed him transcripts of an electronic chat inwhich the trader appeared to boast about trying to manipulateforeign exchange markets, according to people familiar with theincident. ()

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