PRESS DIGEST – Wall Street Journal – April 9

April 9 (BestGrowthStock) – 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.

* Major banks have masked their risk levels in the past
five quarters by temporarily lowering their debt just before
reporting it to the public, according to data from the Federal
Reserve Bank of New York.

* Concern over a potential liquidity shortage at Greece’s
private-sector banks fueled a sharp selloff in Greek debt and
equity markets, suggesting that the European Union’s efforts to
defuse the crisis with a vague promise for an International
Monetary Fund-backed rescue have all but failed.

* Apple Inc (Read more about Apple stock future.) (AAPL.O: ) is stepping up its rivalry with Google
Inc (GOOG.O: ) by adding its own advertising system to the next
version of software that will power its iPhone, iPad and other
mobile gadgets.

* Former Citigroup Inc (C.N: ) Chief Executive Charles Prince
expressed shame and contrition during a three-hour grilling by
a congressional panel scrutinizing the financial crisis. But
Robert Rubin, the former U.S. Treasury secretary who led
Citigroup’s executive committee, defiantly defended his role in
decisions that led to gigantic losses at the bank.

* Favorable factors are prompting UAL Corp’s (UAUA.O: )
United Airlines to resume merger talks with US Airways Group
(LCC.N: ), but the deal could face pushback from the carriers’
unions and government regulators.

* Private-equity firms KKR & Co (KKR.AS: ) and Bain Capital
Partners are prepping initial public offerings for three of
their larger holdings — retailer Toys “R” Us Inc., hospital
chain HCA Inc. and semiconductor business NXP Semiconductors.

* Minnesota businessman Thomas J. Petters was sentenced to
50 years in federal prison for orchestrating an elaborate, $3.7
billion Ponzi scheme that lured investors by claiming to buy
surplus appliances and merchandise and resell them to

* The Senate version of a food-safety bill has attracted
broad bipartisan support and is expected to pass easily soon
after Congress returns from recess next week. But small farmers
worry the measure’s fees and inspection requirements would be
ruinously expensive and are pushing for exemptions.

* Bradley Birkenfeld, former UBS AG (UBSN.VX: ) banker and
the whistle-blower who helped expose widespread tax evasion in
the Swiss banking industry (Read more about the banking industry recovery.), insists he would do it all over
again. But, he would do it very differently.

* Shoppers opened their wallets even wider than expected in
March, snapping up spring fashions and home furnishings and
paying full price for much of what they bought, retailers
reported Thursday.

* The number of U.S. workers filing new claims for jobless
benefits rose unexpectedly last week, partly as a result of the
Easter holiday and other seasonal factors.

* U.S. Treasury Secretary Timothy Geithner’s meeting with
Chinese Vice Premier Wang Qishan produced no breakthroughs on
China’s currency policy, but added to optimism in Washington
that Beijing may be getting closer to allowing the yuan to
appreciate amid intensifying pressure to make a move.

* State governments from New Jersey to California that are
struggling to close budget deficits are skipping or deferring
payments to already underfunded public-employee pension plans.
The moves could help ease today’s budget pressures, but will
make tomorrow’s worse.

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PRESS DIGEST – Wall Street Journal – April 9