PRESS DIGEST – Wall Street Journal – Aug 17

Aug 17 (BestGrowthStock) – 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.

* A financial firm is fighting City Hall — and angling to
take over the building. Buena Vista, borrowed money through a
bond offering to refinance a golf course and pledged as
collateral its City Hall. Now the city says it can’t pay its
debt.

* Frustrated voters, fixing on the $1.5 trillion federal
deficit as a symbol of Washington’s paralysis, appear
increasingly willing to take drastic steps to address the red
ink.

* Barclays Bank Plc (BARC.L: ) agreed to pay $298 million to
settle charges by U.S. and New York prosecutors that the U.K.
bank altered financial records for more than a decade to hide
hundreds of millions of dollars in payments flowing into the
U.S. from Cuba, Libya, Iran and other sanctioned countries.

* A federal judge refused to approve the SEC’s $75 million
settlement with Citigroup over the bank’s alleged failure to
disclose nearly $40 billion in subprime securities.

* Toyota Motor Corp (7203.T: ) is studying the design and
placement of its accelerator and brake pedals to see whether
the current setup makes drivers more prone to hit the wrong
one.

* Big banks in recent months eased standards on
small-business lending for the first time since late 2006, a
Fed survey found, but customers of all sizes showed little
appetite for loans with the economy slowing.

* Pactiv Corp (PTV.N: ), the maker of Hefty trash bags, is
expected to announce soon an agreement to be acquired by New
Zealand’s Rank Group, said a person familiar with the matter.

* An Apple Inc (Read more about Apple stock future.) (AAPL.O: ) global supply manager pleaded not
guilty Monday to charges of accepting kickbacks from Asian
companies, while prosecutors said he is a flight risk and
shouldn’t be granted bail.

* Massey Energy Co (MEE.N: ), its safety record under fire
following a mine explosion that killed 29 men, brought in two
new outside directors. The new, independent directors were
assigned the task of reviewing shareholder lawsuits arising
from the April 5 disaster.

* General Motors Co [GM.UL] agreed to pay employees of its
European division up to 1.1 billion, or about $1.4 billion, if
it fails to honor commitments to invest billions into new cars
and trucks in the region through 2014, according to a
regulatory filling Monday.

* Moody’s Corp (MCO.N: ), having spent the past century
passing judgment on others’ credit quality, got a taste of the
other side. The credit-ratings firm sold bonds for the first
time — taking advantage of soaring demand for corporate debt
and historically low rates — in an offer Monday that was met
by mixed reviews.

PRESS DIGEST – Wall Street Journal – Aug 17