PRESS DIGEST – Wall Street Journal – Aug 24

Aug 24 (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.

* At least seven of 17 Fed officials spoke against or
expressed reservations on a plan to alter the way the Fed
manages its huge portfolio of securities before the move was
approved on Aug. 10.

* The Obama administration may propose that any federal
backing of mortgages be paid for through fees on the lending
industry, according to people familiar with the internal
discussions.

* Kenneth Feinberg’s effort to set the terms for handing
out BP PLC’s (BP.L: ) money to Gulf oil spill victims came under
fresh attack Monday from state officials and private lawyers
who said he planned to be too restrictive in deciding who gets
paid.

* China Investment Corp (Read more about U.S. companies investment into China) [CIC.UL], Chinese sovereign-wealth
fund is in talks with Universa Investments about investing in
the hedge fund, a downside hedge for China, whose economy
depends on global growth.

* Genzyme Corp (GENZ.O: ) and France’s Sanofi-Aventis
(SASY.PA: ) are continuing their discussions about a takeover of
the U.S. biotechnology company, said people familiar with the
matter, but the two sides remain at odds about a “threshold”
price at which Sanofi could begin due diligence on Genzyme.

* Penny Pritzker, one of America’s richest and most
powerful businesswomen, is no longer considered an independent
director of Hyatt Hotels Corp (H.N: ), the publicly traded
company that her family controls.

* The Food and Drug Administration will conduct hundreds of
inspections of egg producers to ensure they adhere to newly
implemented safety rules in the wake of the massive egg recall
linked to a salmonella outbreak, officials said Monday.

* Hewlett-Packard Co (HPQ.N: ) trumped Dell Inc (DELL.O: ) by
offering $1.6 billion for data-storage company 3PAR Inc
(PAR.N: ), as H-P tries to regroup after the surprise resignation
of its leader earlier this month.

* Responding to a spate of midair near-collisions in recent
months, the Federal Aviation Administration wants to bring
pilots and air-traffic controllers together to voluntarily
share information after such events.

* The boyfriend of a former Walt Disney Co (DIS.N: )
administrative assistant admitted to engaging in a scheme to
sell early access to the company’s earnings report in U.S.
district court in Manhattan Monday

* A consortium led by Chinese private-equity fund Hopu
Investment Management Co is considering a possible bid for
Potash Corp (POT.TO: ), a person familiar with the situation
said, the strongest sign yet that China could emerge as a rival
suitor to BHP Billiton (BLT.L: ) (BHP.AX: ) for the big Canadian
company.

* As Chrysler Group LLC prepares to lay out its strategy
for selling a subcompact car from partner Fiat SpA (FIA.MI: ),
the move is raising concerns among some dealers struggling to
sell the vehicles already on their lots.

PRESS DIGEST – Wall Street Journal – Aug 24