PRESS DIGEST - Wall Street Journal - Nov 2

viernes 2 de noviembre de 2007 08:01 CET

Nov 2 (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.

* Merrill Lynch & Co MER.N, in a bid to slash its exposure to risky mortgage-backed securities, has engaged in deals with hedge funds that may have been designed to delay recognition of losses from mortgage securities. The U.S. Securities and Exchange Commission is likely to investigate.

* Ford Motor Co (F.N: Cotización) and Chrysler LLC plan to scale back operations to reduce costs. Both posted drops in October sales. General Motors Corp's (GM.N: Cotización) sales rose 3.4 percent.

* The Writer's Guild of America declared its intention to call a strike in the union's heated dispute with Hollywood film and TV producers.

* U.S. President George W. Bush sought to save Michael Mukasey's troubled nomination for attorney general, defending the retired judge's refusal to say whether he considers waterboarding torture.

* Sprint Nextel Corp (S.N: Cotización) is weighing changes to its plans to offer high-speed wireless Internet service using WiMax technology, including a potential merger of its wireless broadband unit with start-up Clearwire Corp CLWR.O.

* Don Imus, the controversial radio host who was ousted from CBS Radio in the wake of racially insensitive comments, reached a deal to return to radio Dec. 3 with Citadel Broadcasting Corp's flagship New York station, WABC-AM.

* U.S. Democrats agreed to a scaled-back $215.4 billion domestic-spending package that they hope will better attract Republican votes in the face of White House veto threats.

* The Internal Revenue Service, heightening a probe of the financial industry, is examining whether hedge funds and private-equity firms improperly withheld taxes after finding potential abuses.   Continuación...