November 13, 2007 / 6:47 AM / 11 years ago

PRESS DIGEST - Wall Street Journal - Nov 13

Nov 13 (Reuters) - The following were the top stories in The Wall Street Journal on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

* Subprime-mortgage problems crashed into another unexpected corner of the financial industry, as online brokerage firm E*Trade Financial Corp’s (ETFC.O) shares fell 59 percent over concerns about shaky securities on its books.

* Money manager SEI Investments (SEIC.O) plans to provide financial guarantees for some of the funds’ holdings of structured investment vehicles.

* Japan’s economy expanded by an unexpected 0.6 percent in the third quarter from a year earlier, driven by robust exports.

* A top U.S. forecaster expects gasoline prices to climb an additional 20 cents a gallon by December. Prices may go higher if OPEC doesn’t increase output.

* Berkshire Hathaway Inc (BRKa.N) stands to benefit if bond insurers seek reinsurance as a source of capital relief to save their ratings.

* A Pentagon antidrug contract may test how Blackwater USA’s role in a deadly Baghdad shooting affects its ability to win government jobs.

* U.S. House Democrats are taking a more conciliatory approach with Republicans as they try to move their agenda in the face of U.S. President George W. Bush’s veto threats.

* Samsung Group [SAGR.UL] is facing a bribery probe in South Korea after three government officials were named as alleged recipients.

* International Business Machines Corp (IBM.N), making the biggest acquisition in its history, agreed to acquire Cognos Inc CSN.TO COGN.O for $5 billion, in another sign of the increasing importance of software to Big Blue’s future.

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