November 12, 2007 / 8:30 AM / 11 years ago

PRESS DIGEST - Wall Street Journal - Nov 12

Nov 12 (Reuters) - The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

* Fears that overseas growth won’t be strong enough to put U.S. markets back on track have fuelled the market retreat, as credit turmoil continues to hurt financial firms, the Fed warns of slower U.S. growth and oil prices climb.

* A suspect in the slaying of Wall Street Journal reporter Daniel Pearl was secretly detained and interrogated by U.S. and Pakistani intelligence agencies before he died earlier this year.

* British bank HSBC Holdings Plc (HSBA.L) may have to increase its reserves for souring subprime loans at its U.S. consumer lending business’s mortgage-services division, some analysts said.

* U.S. officials are preparing to play a long-term role in protecting Iraq’s offshore oil infrastructure. The U.S. Navy is building a military installation atop this petroleum-export platform as the U.S. establishes a more lasting military mission in the oil-rich north Persian Gulf.

* All but two members of the Hershey Co (HSY.N) board resigned, in another sign of the extent of the differences between management and the charitable trust that controls the company.

* In the wake of a heart defibrillator-wire recall by Medtronic Inc (MDT.N), reports are emerging that some defibrillator wires made by St. Jude Medical Inc STJ.N are in rare instances puncturing holes in the hearts of cardiac patients.

* Pakistani President Pervez Musharraf said national elections would be held by Jan. 9. The earlier-than-expected timetable is an apparent effort to blunt opposition to his imposition of emergency rule.

* The cable industry is set to fight a possible effort by the Federal Communications Commission to impose new programming and access requirements on carriers.

* The U.S.’s three biggest financial groups — Citigroup Inc (C.N), J.P. Morgan Chase & Co (JPM.N) and Bank of America Corp (BAC.N) — have agreed on the structure of a $100 billion fund to help thaw portions of the frozen credit markets.

* Illinois Sen. Barack Obama and former North Carolina Sen. John Edwards have picked up campaigning in Iowa and honed their rhetoric to try to unseat Clinton as front-runner in the state.

* Just two weeks after European steelmakers requested a curb on Chinese steel imports, a group representing international steel exporters, importers and consumers has fired back, saying U.S. steelmakers benefit unfairly from subsidies.

* Intel Corp’s (INTC.O) latest chips, being formally announced Monday at an event in San Francisco, were built with new manufacturing materials. Intel is building transistors in the chips from a material called hafnium instead of silicon dioxide, an industry mainstay since the 1960s.

* Western mining companies are increasing their clout as the world’s commodity boom marches on, a trend that stands in stark contrast to developments in the oil business. The trend could also put China, the world’s fastest-growing source of new demand for minerals, in a bind. While state-controlled companies might be more willing to ramp up production to meet demand, Western companies are often leery of adding too much capacity too fast to commodity markets.

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