PRESS DIGEST - Wall Street Journal - Nov 7
Nov 7 (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.
* General Motors Corp (GM.N: Cotización) will take a $39 billion third-quarter noncash charge to write down deferred-tax credits, a signal that it expects to continue to struggle financially despite significant restructuring and cost cutting in the past two years.
* Two red states turned slightly blue in off-year elections as Kentucky's Republican governor lost, and Democrats picked up at least three seats in Virginia's state Senate.
* Two analysts project Morgan Stanley (MS.N: Cotización) may take a fourth-quarter write-down of $3 billion to $6 billion as a result of the subprime-mortgage crisis.
* Gasoline has trailed oil's rise to nearly $100 a barrel, but fuel prices now look poised to take off as holiday demand rises and refining margins stabilize.
* Rudy Giuliani has rebuffed calls to disclose details about the clients and dealings of Giuliani Partners, the consulting firm he founded in 2002. He could face questions about his business ties if he wins the Republican nomination.
* Natalie Bancroft, the daughter of Hugh Bancroft III, will serve on News Corp's NWSa.N board. The Bancroft family missed a 30-day deadline to nominate its own candidate, ceding the choice to Rupert Murdoch, Dow Jones & Co Inc's DJ.N prospective owner.
* Best Buy Co Inc (BBY.N: Cotización) plans to offer giveaways and discounts on sought-after items to its best-spending customers this holiday season.
* The European Central Bank and Bank of England are expected to keep key rates steady Thursday amid data showing slowing economic growth. Continuación...