PRESS DIGEST – Wall Street Journal – Aug 13

Aug 13 (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.

* This year’s most vulnerable Democrats are facing what
could be an insurmountable problem: increasing gloom about the
economy.

* General Motors Co [GM.UL] said it would replace its chief
executive with Daniel Akerson, a board member lacking
automotive experience but well-regarded on Wall Street, a move
whose timing was surprising and appears designed to pave the
way for the car maker’s return to the public stock market.

* Oracle Corp (ORCL.O: ) sued Google Inc (Read more about Google Stock Analysis) (GOOG.O: ) for patent
and copyright infringement, a surprise move that could cast a
legal cloud over the growing number of cellphones that use the
Android operating system.

* Several major U.S. subscription-TV providers are building
new tablet-computer applications that offer select TV shows and
movies to their existing subscribers.

* Caterpillar Inc (CAT.N: ) said Thursday it plans to open an
excavator assembly plant in Victoria, Texas, that will employ
more than 500 people and triple the company’s capacity to
produce excavators in the U.S.

* Less than a month after stress tests calmed concerns
about the health of European banks, new problems in the Irish
banking sector are making investors nervous once again.

* The consolidation of new-car dealerships in the U.S.
continued in the first half of the year, although there are
signs the trend is easing. The dealership count fell to 18,223
after 258 showrooms shut their doors between Jan. 1 and July 1,
according to Detroit-based consulting firm Urban Science.

* Economists are getting more pessimistic about the
strength of the U.S. recovery, but they don’t think policy
makers should do anything more to support it, according to the
latest Wall Street Journal forecasting survey.

* Activist investor Ronald Burkle fired the first shot
Thursday in a proxy battle for the future of Barnes & Noble Inc
(BKS.N: ), the country’s largest bookstore chain. In a regulatory
filing, Mr. Burkle put forward three nominees for directors,
including himself, after peace-pact negotiations with the
retailer collapsed earlier in the day.

* India became the latest government to turn the screws on
smartphone maker Research in Motion Ltd (RIM.TO: ) in the name of
national security. On Thursday, officials told Indian
telecommunications firms to open two secure BlackBerry services
to surveillance by Aug. 31 or face a possible ban on the
services.

* A big bet on the World Cup has paid off for the world’s
biggest beer company. Leuven, Belgium-based Anheuser-Busch
InBev NV (ABI.BR: ) said second-quarter volumes were up 2.1
percent over the same period last year.

* Harrah’s Entertainment Inc [HAMLEH.UL] is negotiating
with an Ohio developer to build casinos in downtown Cleveland
and Cincinnati, the company said, as it seeks new sources of
cash to address its sizable debt and dig out of a challenged
U.S. gambling market.

PRESS DIGEST – Wall Street Journal – Aug 13