PRESS DIGEST – Wall Street Journal – Jan 26

Jan 26 (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.

* U.S. President Barack Obama intends to propose a
three-year freeze in spending that accounts for one-sixth of
the federal budget – a move meant to quell rising concern over
the deficit but whose practical impact will be muted.

* Two days before it’s set to unveil a major new product,
Apple Inc (Read more about Apple stock future.) (AAPL.O: ) reported a surge in quarterly profit and
revenue that showed demand for its technology hasn’t cooled
off.

* A U.S. government investigator is opening a probe into
disclosures made as part of the government’s rescue of American
International Group Inc (AIG.N: ) when the company’s trading
partners were paid billions in November 2008.

* The chairman of General Motors Co [GM.UL], Edward
Whitacre , said Monday he will stay on as the auto maker’s
chief executive, ending a short stint as interim CEO and
bringing to an end a search for an outsider to run the
struggling company.

* Privately held Quad/Graphics Inc of the U.S. is expected
to acquire Canadian rival World Color Press Inc (WC.TO: ) for
roughly $1.3 billion to $1.4 billion, said people familiar with
the matter, in a deal that would create North America’s
second-largest commercial printer by sales, behind industry
giant R.R. Donnelley & Sons Co.

* More senators stepped up Monday to support a second term
for Federal Reserve Chairman Ben Bernanke as business interests
rallied to his defense and liberal grass-roots activists
launched a push for his defeat.

* Worries about the heavy debts of a number of countries
have gotten so extreme in some places that investors are
betting that some businesses in those nations are more
creditworthy than the nations themselves.

* Creditors and potential buyers are scrambling for control
of a massive apartment complex in New York after the owners
gave up Peter Cooper Village and Stuyvesant Town, once viewed
as one of Manhattan’s most valuable residential properties.

* Goldman Sachs Group Inc (GS.N: ) imposed a salary and bonus
cap of 1 million pounds ($1.61 million) on the company’s
partners in London, forcing them to bear the brunt of a new
U.K. tax on bonuses.

* The Justice Department gave the go-ahead Monday to the
merger between concert promoter Live Nation Inc (LYV.N: ) and
ticket-selling and artist-management powerhouse Ticketmaster
Entertainment Inc (TKTM.O: ), but imposed some significant
conditions.

* Home sales plunged in December, raising fresh concerns
over the housing market’s ability to recover when government
support winds down.

* The Securities and Exchange Commission wants Galleon
Group founder Raj Rajaratnam and other defendants in a civil
insider-trading case to turn over wiretap materials they have
received from prosecutors in their criminal cases.

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PRESS DIGEST – Wall Street Journal – Jan 26