PRESS DIGEST – Wall Street Journal – Jan 29

Jan 29 (BestGrowthStock) – The following were the top stories in
The Wall Street Journal on Friday. Reuters has not verified
these stories and does not vouch for their accuracy.

* Ben Bernanke won the backing of the Senate for a second
four-year term as chairman of the Federal Reserve by a
comfortable margin Thursday. Even with that storm behind him,
Bernanke faces formidable political and economic challenges
made tougher by the bruising confirmation fight.

* Apple Inc (Read more about Apple stock future.)’s (AAPL.O: ) new iPad has the potential to be
both a blessing and a curse to the growing ranks of companies
that have developed more than 140,000 applications for the
company’s iPhone.

* Most employees currently at the financial-products unit
of American International Group Inc (AIG.N: ) have indicated they
will accept cuts in a batch of March retention awards if the
bonuses are paid out as early as next week, people familiar
with the matter said.

* Toyota Motor Corp (7203.T: ) has found a fix for the
sticking gas pedals that prompted the company to halt sales of
more than half of its models in the U.S., said people briefed
on matter, although the remedy still must be approved by
government regulators.

* Amazon.com Inc (AMZN.O: ) brushed aside concerns about
competition with Apple Inc (Read more about Apple stock future.)’s (AAPL.O: ) new iPad tablet, as the
online retailer reported record profit and sales that paint it
as a big winner in retailing.

* Billionaire Ronald Burkle is angling to take a
controlling stake in Barneys New York, people familiar with the
situation said, a bet that the company and battered luxury
retail sector have seen the worst of the recession.

* Bank of New York Mellon Corp (BK.N: ) is in final-stage
discussions to acquire a unit of PNC Financial Services Group
Inc (PNC.N: ) for close to $2.5 billion, said people familiar
with the matter.

* Microsoft Corp (MSFT.O: ) said consumer demand for Windows
7 propelled a 60 percent increase in profit during the holiday
quarter, in another sign of hope for the battered technology
sector.

* Though Lockheed Martin Corp (LMT.N: ) has thousands of
government contracts, none is more important to its future than
the F-35 Lightning II, a fighter-jet program that will cost
almost $300 billion to design, build and buy in the coming
decades.

* The rosy view of a global recovery that powered markets
in 2009 has dissipated, leading U.S. stocks (Read more about the stock market today. ) to their worst
month in nearly a year, pushing down commodities prices and
scaring investors out of the euro to the relative safety of the
U.S. dollar.

* Samsung Electronics Co (005930.KS: ) executives on Friday
said the company will aim for strong sales growth in
televisions and cellphones in 2010, but it will rely on its
chip business to contribute the most profit.

PRESS DIGEST – Wall Street Journal – Jan 29