PRESS DIGEST - Wall Street Journal - April 23
April 23 (Reuters) - The following were the top stories in The Wall Street Journal on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.
* The SEC refused a congressional request to disclose why an investigation into Bear Stearns's BSC.N valuation of complex debt securities was dropped. The agency cited confidentiality in its decision involving the late-stage probe.
* Yahoo Inc's YHOO.O profit more than tripled on an investment gain. Revenue rose 9 percent despite weakness in online-ad sales. But Microsoft Corp's (MSFT.O: Cotización) chief executive officer said good results wouldn't lead his company to raise its bid.
* International Business Machines Corp (IBM.N: Cotización) plans to announce a new type of computer designed for the giant data centers operated by so-called Web 2.0 companies, such as Internet-search and email providers.
* Citigroup Inc (C.N: Cotización) shareholders peppered executives and directors of the bank with criticism at an annual meeting that stretched for nearly four hours, but all the directors were re-elected with at least two-thirds of the vote.
* Marcus Brauchli, who took over as The Wall Street Journal managing editor less than a year ago, confirmed Tuesday he was stepping down.
* GlaxoSmithKline (GSK.L: Cotización) will buy Sirtris Pharmaceuticals Inc SIRT.O for $720 million, placing a substantial bet on the potential of early-stage research on drugs touted for their potential to slow the aging process.
* The U.S. Food and Drug Administration, under fire from Congress for gaps in its foreign drug inspection, would need about $70 million to inspect more than 3,000 foreign drug facilities every two years, a Government Accountability Office official said.