PRESS DIGEST - Wall Street Journal - Feb 27
Feb 27 (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.
* President Barack Obama delivered a $3.6 trillion budget blueprint to Congress that aims to "break from a troubled past," with expanded government activism, tax increases and spending cuts targeted at those he says profited from "an era of profound irresponsibility."
* Citigroup Inc (C.N: Cotización) and the U.S. have reached an agreement in which the government will increase its stake in the bank and in return will demand a boardroom shakeup.
* AstraZeneca Plc (AZN.L: Cotización) instructed sales representatives to tell doctors that a psychiatric drug didn't cause diabetes even though a physician said such a link was probable in some individuals, documents show.
* Federal prosecutors filed obstruction charges against a top Stanford Financial official, the first criminal charges to emerge in the investigation of Texas businessman Allen Stanford's offshore financial empire.
* Federal regulators are expected to raise the fees that they charge banks by more than double in an effort to replenish the government's deposit-insurance fund, said people familiar with the matter.
* Fannie Mae FNM.P posted a $25.2 billion loss for the fourth quarter, and similar expectations for Freddie Mac FRE.P paint a worsening outlook.
* The UK government took banking giant Royal Bank of Scotland Group (RBS.L: Cotización) to the brink of nationalization, in the latest gamble by a major nation to shore up confidence in the international financial system.
* Dell Inc's DELL.O quarterly profit fell by nearly half and the computer maker said it expects demand for equipment to remain weak in coming months, underlining how deeply the recession is now gnawing at technology companies. Continuación...