PRESS DIGEST – Wall Street Journal – Dec 6

Dec 6 (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.

* White House officials and congressional Republicans are
closing in on a deal that would extend current income-tax rates
for all Americans as well as a benefits program for the
long-term unemployed.

* The Chinese have gone from importing high-tech Russian
arms to reverse engineering that technology to compete for
sales with its former supplier in flash points across the
globe.

* Pfizer Inc (PFE.N: ) Chairman and Chief Executive Jeffrey
Kindler retired unexpectedly after four and half years of
leading the world’s largest drug maker by sales, saying the
demands of the job have worn him out.

* The trustee seeking money for victims of Bernard Madoff’s
fraud sued HSBC Holdings (HSBA.L: ) and a group of feeder funds
for at least $9 billion. The lawsuit, filed in federal
bankruptcy court in Manhattan, is the latest move by Irving
Picard, who has filed more than 100 lawsuits in recent days in
an effort to recover money from investors who received false
profits from the Ponzi scheme or persons or institutions he
claims enabled the fraud.

* After a stellar two-year run, the bond market is
stumbling and a number of investors are betting that stocks
will post better returns in the coming months.

* U.S. Federal Reserve Chairman Ben Bernanke took his
message into American homes on “60 Minutes”, defending the
central bank’s bond-buying program and pledging his “100
percent” confidence he could prevent runaway inflation.

* The government’s broad insider-trading investigation is
focusing in part on how hedge funds may have traded on
information obtained from consultants such as doctors who were
hired to discuss their work with investors.

* A lawsuit filed Friday for alleged use of “history
sniffing,” a method for surreptitiously detecting what websites
a person has visited, is the latest to take aim at technologies
that harvest Internet users’ personal information.

* Big banks may soon start pushing a different type of
plastic to their customers. Financial institutions such as U.S.
Bancorp (USB.N: ), Wells Fargo & Co (WFC.N: ) and Bank of America
Corp (BAC.N: ) are exploring prepaid cards as a way to make up
revenue that will likely be lost from federal restrictions on
debit cards. That is because prepaid cards, which are preloaded
with funds and used like debit cards, are exempt from
restrictions in the Dodd-Frank financial-overhaul bill.

PRESS DIGEST – Wall Street Journal – Dec 6