PRESS DIGEST - Wall Street Journal - Sept 26
Sept 26 (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.
* Federal regulators seized Washington Mutual Inc (WM.N: Cotización) and struck a deal to sell the bulk of its operations to JPMorgan Chase & Co (JPM.N: Cotización) in what is by far the largest bank failure in U.S. history.
* Political wrangling threw the $700 billion bailout plan into disarray, despite a day of negotiations that seemed to promise a deal. Talks broke off Thursday night with no agreement and with plans to reconvene in the morning, without House Republicans.
* The first presidential debate remained up in the air as lawmakers struggled to reach an agreement on a bailout package.
* Short-term money markets remained in turmoil, heightening the likelihood the credit pullback will harm the broader economy.
* Billionaire investor Warren Buffett's decision to rescue Constellation Energy Group Inc CEG.N could reshape the future of the nuclear-power industry.
* Demand for durable goods and new homes plunged in August, while weekly jobless claims surged, the government said in a triple dose of bad economic data.
* General Electric Co (GE.N: Cotización) clipped the wings of its finance unit as it reduced its earnings forecast, highlighting both the impact of the credit crisis on corporate America and how companies might respond.
* Fears that Research in Motion Ltd RIM.TO RIMM.O is spending heavily to push a new slate of sleek BlackBerry devices to holiday shoppers outweighed news of higher sales and profit, sending shares plunging in after-hours trading. Continuación...