July 16, 2008 / 4:45 AM / 11 years ago

PRESS DIGEST - Wall Street Journal - July 16

July 16 (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 chiefs of Bear Stearns and Lehman Brothers Holdings LEH.N have questioned whether Goldman Sachs Group Inc (GS.N) even indirectly, might have put pressure on their firms’ shares. Goldman strongly denies wrongdoing.

* The U.S. Securities and Exchange Commission said it will move to curb short selling in the stocks of Fannie Mae FNM.N and Freddie Mac FRE.N, as well as in 17 financial firms. The emergency action comes amid concern that negative bets against the stocks might be exacerbating financial-sector woes, but it’s far from clear whether the move, which sparked a barrage of criticism, will curb the activity of short sellers.

* Federal regulators are stepping up efforts to ensure the banking industry’s access to short-term cash, amid concerns about bank runs and worries that liquidity-conscious lenders will hoard money and stop making loans.

* European regulators are preparing to file new antitrust charges against Intel Corp (INTC.O), expanding a probe into the U.S. chip maker’s marketing and sales practices, according to people familiar with the matter.

* After more than a decade of deliberation, federal regulators are expected to adopt contentious and potentially costly rules designed to prevent fuel-tank explosions on commercial airliners, according to government and industry officials familiar with the matter.

* South Korea’s SK Telecom Co (017670.KS) and U.S. wireless carrier Sprint Nextel Corp (S.N) are in preliminary talks to form a strategic partnership to develop new handsets and services, people familiar with the matter said.

* Overriding a veto by President George W. Bush, Congress passed a bill that will block previously scheduled cuts in Medicare fees for doctors.

* News Corp’s NWSa.N New York Post newspaper and the New York Daily News, owned by Mortimer Zuckerman, are considering collaborating on some business operations, said people familiar with the matter.

* U.S. House Democrats want to inject at least $50 billion into the economy through another economic-stimulus bill, which is likely to include a second round of checks for middle-income people.

* Drug-coated heart stents, whose U.S. sales were hard hit over safety concerns in the past two years, appear to be mounting a comeback.

* International Business Machines Corp (IBM.N) said it will invest $1 billion in its East Fishkill, New York-based semiconductor plant over the next three years, confirming its intention to remain in the chip-making business.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below