PRESS DIGEST – Wall Street Journal – June 4

June 4 (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.

* International regulators are moving closer to an
agreement that would require large multinational banks to raise
vast sums to cushion any future losses. But in a concession to
the banking industry (Read more about the banking industry recovery.) and some governments, the rules are likely
to take effect later than expected, according to people
familiar with the matter.

* Some fast-moving computer-driven investment firms are
getting an edge by trading on market data before it gets to
other investors, according to market players and researchers
who have studied the trading.

* Hardy superweeds immune to the Farm Belt’s most effective
weedkiller are invading fields, prompting a counterattack from
agribusiness that could leave farmers using greater amounts of
harsh old-line herbicides.

* A jury acquitted two men charged with insider trading,
dealing a blow to the U.K. Financial Services Authority as it
strives to showcase a new tough-on-crime persona.

* It isn’t yet clear how much money Bernard Madoff’s
investors will recover, but some companies are offering to buy
the claims of Ponzi-scheme victims, at a discount, in hopes the
payouts are worth it.

* The management of French daily newspaper Le Monde said
Thursday it wanted to sell a majority stake in the company,
ending nearly 60 years of journalist control.

* Kellogg Co (K.N: ), for the second time in a year, crossed
the line when touting health claims on its cereals. The Federal
Trade Commission found fault with assertions the company made
about various types of its Rice Krispies cereal.

* Robin Domeniconi, Microsoft Corp’s (MSFT.O: ) vice
president for U.S. advertising sales, publishing and marketing,
is leaving Microsoft to oversee Elle magazine and related
properties, according to Elle publisher Hachette Filipacchi
Media U.S.

* The Swiss Senate approved a law aimed at allowing Bern to
fulfill its obligations under last year’s settlement of a tax
case with the U.S. government.

* Agricultural Bank of China Ltd is moving ahead with what
could be the biggest initial public offering in history in a
test of international investor confidence in China’s economic
recovery and the resilience of its financial sector.

* Irish biotechnology company Elan (ELN.I: ), facing
long-running shareholder dissatisfaction over company
management, said Chief Executive Kelly Martin will step down in

* Retail sales in the 16 countries that share the euro
posted their sharpest monthly drop for 18 months in April,
signaling that the currency bloc’s economic recovery remains
weak, data from the European Union’s Eurostat statistics agency
showed Thursday.

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PRESS DIGEST – Wall Street Journal – June 4