PRESS DIGEST – Wall Street Journal – June 2

June 2 (BestGrowthStock) – The following were the top stories in
The Wall Street Journal on Wednesday. Reuters has not verified
these stories and does not vouch for their accuracy.

* The U.S. has launched criminal and civil investigations
into the Gulf of Mexico oil spill – the latest move by the
Obama administration to show it is taking aggressive action
amid bipartisan criticism of its response to the disaster.

* The $35.5 billion global life-insurance deal that would
have remade the industry landscape while helping return some
cash to U.S. taxpayers has collapsed after American
International Group Inc (AIG.N: ) said it wouldn’t agree to a
lower sale price for its largest Asian life-insurance business.

* Vivendi SA’s (VIV.PA: ) former chief executive Jean-Marie
Messier is scheduled to stand trial Wednesday, accused of
misleading investors over the company’s financial health as he
sought to transform the stodgy water utility into a music and
pay-TV giant.

* Forecasters are actively cutting their outlook for
10-year Treasury yields, an acknowledgment that the latest
decline in rates may be more than a brief dip.

* Fitch said loss rates on mortgage-backed securities
reached an all-time high average of 57 percent last year, and
the rate will continue to exceed the historical average of 37
percent through 2011.

* Thales SA (TCFP.PA: ) of France scored a major victory
Tuesday over Lockheed Martin Corp (LMT.N: ), as a Thales-led
partnership won a roughly $2.1 billion contract to build a
fleet of communications satellites for Iridium Communications
Inc (IRDM.O: ).

* Covidien Plc (COV.N: ) agreed to buy vascular device maker
ev3 Inc (EVVV.O: ) for $2.6 billion in a move aimed at accessing
markets for products that treat problems with blood vessels in
the legs and head.

* An exchange-traded fund launched in late 2005 designed to
track the movement of the euro against the dollar has come
nearly full circle, but the ride has been anything but smooth
for investors.

* The euro dropped to a fresh four-year low Tuesday as
fears the euro-zone sovereign-debt crisis could stymie a global
recovery led investors out of riskier assets.

* Hewlett-Packard Co (HPQ.N: ) said it plans to shed about
9,000 workers from its technology-services division while
investing $1 billion to modernize the unit, as it moves to
jumpstart growth in an industry that’s lagged the economic
recovery.

* Ryanair Holdings Plc (RYA.I: ) said Tuesday it will pay its
first dividend in more than 10 years, as Europe’s largest
budget airline swung to a fiscal-year net profit on
substantially lower fuel prices and an improved route mix.

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PRESS DIGEST – Wall Street Journal – June 2