PRESS DIGEST – Wall Street Journal – July 2

July 2 (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.

* Manufacturing lost momentum around the world in June,
adding to worries that global economies are poised for slower
growth in the months ahead.

* Goldman Sachs Group Inc (GS.N: ), already under scrutiny
from regulators, faced new questions from a congressional
commission about whether it aggressively marked down the value
of its mortgage-securities positions to benefit a bet Goldman
made against the mortgage market.

* The European Union has hit a potential obstacle in its
effort to force banks to come clean about their problems, as a
German central banker said that regulators can’t force banks to
comply with demands for full transparency.

* The trial of a man accused of exploiting Europe’s richest
woman, L’Oreal heiress Liliane Bettencourt, was postponed
because of new evidence that has triggered criticism of a top
cabinet minister.

* Euro-zone banks have rolled almost all of the 442 billion
euro ($541 billion) in one-year central-bank funds maturing on
Thursday over into shorter-term agreements, indicating that the
European Central Bank can only exit slowly from its extensive
support measures.

* Democrats are trying to quell an outcry over a
last-minute change to their financial-regulation overhaul that
has sparked confusion over regulation of the giant derivatives
market.

* General Electric Co (GE.N: ) Chief Executive Jeffrey Immelt
said it is getting harder for foreign companies to do business
in China, and that the Obama administration hasn’t done as much
as its predecessors to develop ties to the business community,
people who heard his comments said Thursday.

* Drilling in deepwater oil fields remains essential in
spite of the moratorium in the U.S. Gulf of Mexico following
the BP Plc (BP.L: ) oil spill, said Total SA (TOTF.PA: ) Chief
Executive Christophe de Margerie.

* Mazda Motor Corp (7261.T: ) is considering raising vehicle
prices and slashing incentives in Europe as it aims to sell
bigger and more profitable vehicles there to help offset the
negative impact from the euro’s precipitous decline, the
company’s chief financial officer said Thursday.

* Toyota Motor Corp (7203.T: ) announced Friday it will
recall 270,000 vehicles world-wide, including luxury Lexus
sedans, to fix faulty engines.

PRESS DIGEST – Wall Street Journal – July 2