PRESS DIGEST - Wall Street Journal - Feb 20
Feb 20 (Reuters) - The following were the top stories in The Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.
* Bank of America Corp (BAC.N: Cotización) Chairman Kenneth Lewis was subpoenaed by New York state over bonuses and losses at Merrill. Former Merrill CEO Thain was interviewed.
* Texas financier R. Allen Stanford was tracked down in Virginia by FBI agents, at the request of the U.S. Securities and Exchange Commission, and served papers. Prosecutors are investigating if he was operating a Ponzi scheme.
* The U.S. sued UBS AG UBSN.VX to gain access to 52,000 accounts belonging to U.S. clients as it intensifies a probe of the secretive Swiss accounts.
* Chief executives from several big household-products makers voiced confidence they could make higher prices stick, even as the recession ratchets up pressure on retailers and consumers to cut costs.
* Comcast Corp (CMCSA.O: Cotización) and Time Warner Cable Inc TWC.N are discussing with owners of major cable-TV networks ways to give cable subscribers online access to much of the networks' programming, according to people familiar with the situation.
* Citigroup Inc (C.N: Cotización), taking another step to shrink its sprawling empire, plans to sell a large chunk of its minority stake in Brazilian credit-card company Redecard SA RDCD3.SA, according to people familiar with the matter.
* Without a hit phone or strong brand to lure consumers, Sprint Nextel Corp (S.N: Cotización) increasingly is pushing discounts in a bid to reverse two years of subscriber losses.