PRESS DIGEST – Wall Street Journal – Aug 30

Aug 30 (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.

* For years, the West focused on the threat from China’s
low-tech exporters like clothing and furniture makers. Glass
represents how an even more potent challenge has arrived:
sophisticated, capital-intensive businesses that boast
high-tech expertise.

* Japan’s central bank agreed at an emergency
monetary-policy meeting to take new steps to rein in the
soaring yen and pump up the slumping economy, in the latest
sign of currency worries rippling around the world.

* Intel Corp (INTC.O: ) is finalizing a deal to acquire
Infineon Technologies’ (IFXGn.DE: ) wireless-chip unit for less
than $1.5 billion. If the deal goes through, it would mark the
second acquisition in about two weeks for Intel.

* French pharmaceutical company Sanofi-Aventis (SASY.PA: ) on
Sunday went public with its $18.5 billion all cash bid for
Genzyme Corp (GENZ.O: ), ratcheting up the pressure on the
biotechnology firm.

* The Justice Department is looking at how Comcast Corp’s
(CMCSA.O: ) bid for General Electric Co’s (GE.N: ) NBC Universal
could affect the emerging Internet video market and potentially
stunt its growth.

* State tax revenue rose in the second quarter, as higher
taxes and the slowly improving economy led to an increase in
collections.

* U.S. President Barack Obama will announce a series of
initiatives this week aimed at streamlining the system that
governs the export of weapons but also commercial products that
have a potential for military use

* Scores of tobacco retailers in the U.S. are taking
advantage of a federal tax loophole to offer deep discounts on
roll-your-own cigarettes. But the practice is attracting
scrutiny from regulators and cigarette manufacturers.

* With the specter of higher taxes looming in 2011 and
banks still reeling from last year’s U.K. bonus tax, executives
at some financial-services companies are considering whether to
pay year-end bonuses, traditionally doled out starting in
January, sooner.

* Three days after suspicious trading in the options market
earlier this month, the U.S. Securities and Exchange Commission
moved swiftly to charge two foreign suspects who had executed
the deals and get a court to keep $1.1 million of their assets
from leaving the country.

* Current and former central bankers from around the world
said an uneven global economic recovery was likely to stay on
track despite worries about the vitality of the U.S. economy.

* The U.S. Commerce Department is expected Tuesday to find
that $550 million in imported Chinese aluminum was illegally
subsidized by the Chinese government, potentially leading to
higher import duties as early as next week.

* Walt Disney Co (DIS.N: ) and Time Warner Cable Inc (TWC.N: )
are nearing a new deal to pipe TV channels like ABC and ESPN
into millions of U.S. homes and expect to reach an agreement in
time to avert a threatened blackout, according to people
familiar with the talks.

PRESS DIGEST – Wall Street Journal – Aug 30