PRESS DIGEST – Wall Street Journal – Aug 16

Aug 16 (BestGrowthStock) – 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.

* Liz Claiborne Inc (LIZ.N: ) has posted 11 consecutive
quarters of red ink under CEO William L. McComb. Now a new line
for J.C. Penney Co Inc (JCP.N: ) could mark the final chapter in
the story of the legendary 34-year-old brand.

* Hewlett-Packard Co’s (HPQ.N: ) board voted to oust Mark
Hurd Aug 6 after the chief executive reached a
sexual-harassment-claim settlement that directors thought
impeded their probe of the claim, according to a person
familiar with the board’s thinking.

* China is expected to surpass Japan this year as the
world’s second-largest economy as quarterly GDP figures from
Japan reported Monday morning show its economic output fell
short of China’s.

* Bank of America Corp (BAC.N: ) has concluded that its 34
percent share of BlackRock Inc (BLK.N: ) isn’t a core asset and
is weighing a possible reduction of its holdings in the
influential New York asset manager, said people familiar with
the situation.

* Efforts are under way to supersize trucks, trains and
cargo ships as haulers look to move more goods in fewer trips.
But the behemoths are prompting a backlash from road-safety
officials and others.

* America’s baby boomers — those born between 1946 and
1964 — face a problem that could weigh on the economy for
years to come: The longer it takes for the economy to recover,
the less money they’ll have to spend in retirement.

* Fans say General Motors Co’s [GM.UL] new Chief Executive
Daniel Akerson will ensure car maker doesn’t revert to plodding
ways; others wonder if his style is unsettling.

* A federal judge’s decision Friday to undo the
government’s five-year-old approval of genetically modified
sugar beets, from which roughly half of U.S. sugar is derived,
won’t disrupt supplies for at least a year, but could pose
headaches for food companies after that.

* Apple Inc (Read more about Apple stock future.) (AAPL.O: ) is facing some early challenges in its
closely watched mobile advertising foray, with some ad
campaigns experiencing delays as agencies attempt to learn the
new system amid Apple’s tight control over the creative
process, according to ad executives.

* Smooth-Stone, a start-up with an unusual plan to target
the market for chips used in server systems, said it had raised
$48 million from a combination of larger chip companies and

* Todd Katz, executive vice president for insurance
products at MetLife Inc (MET.N: ), defended the practice of
placing policyholder benefits into the so-called retained-asset
accounts as being worthwhile to consumers who can put off
making an immediate decision about what to do with a
death-benefit payment. But he acknowledged that the accounts
are “also good for MetLife.”

* Australian agribusiness AWB Ltd (AWB.AX: ) said Monday it
has received a conditional takeover bid from Canadian
fertilizer supplier Agrium Inc (AGU.TO: ) pitched at 1.50
Australian dollar (US$1.34) cash a share, valuing the company
at A$1.24 billion, even as AWB continues to implement a
share-based merger agreement with GrainCorp Ltd (GNC.AX: ).

PRESS DIGEST – Wall Street Journal – Aug 16