PRESS DIGEST – Wall Street Journal – June 8

June 8 (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.

* Germany’s government announced around 80 billion euros
($95.6 billion) in budget cuts in the next four years, while
the U.K. government sought to prepare public opinion for
similar austerity measures.

* A commission probing the financial crisis denounced
Goldman Sachs Group Inc (GS.N: ), saying the firm first dragged
its feet over requests for information then dumped hundreds of
millions of pages of documents on the panel.

* Federal Reserve Chairman Ben Bernanke offered cautious
reassurance that the U.S. recovery is on track, despite recent
turmoil in financial markets and worries about the health of
Europe’s economy.

* Steve Jobs unveiled a new iPhone Monday in a presentation
that was long on new features but short on surprise, as the
Apple Inc (Read more about Apple stock future.) (AAPL.O: ) chief faces increasing competition in
smartphones, particularly from devices based on Google Inc (Read more about Google Stock Analysis)’s
(GOOG.O: ) Android software.

* With Scotch whisky emerging as a fashionable drink in
markets like China and Brazil, multinational liquor companies
such as Pernod Ricard SA (PERP.PA: ) and Diageo Plc (DGE.L: ) are
investing in production facilities in Scotland at a level not
seen since the 1970s.

* In a year of anger over big bank bailouts and hefty
banker bonuses, candidates are aiming the “Wall Street insider”
epithet at their rivals with a new aggressiveness and
intensity.

* Hoping to win orders for a new fleet of presidential
helicopters, Boeing Co (BA.N: ) said Monday it had reached a
licensing deal to make an Italian helicopter design in the U.S.

* Euro-zone finance ministers gave their final approval to
a 440 billion euro ($520 billion) rescue package Monday and
said the special entity set up for emergency lending would aim
for the highest possible credit rating.

* Hewlett-Packard Co (HPQ.N: ) announced plans to make it
easier for users of smartphones and other devices to print
documents without the need for a computer.

* Eli Lilly & Co (LLY.N: ) plans to double its sales in
emerging markets over the next five years by expanding
promotion of its drugs and potentially making strategic
acquisitions.

* Bank of America Corp (BAC.N: ) agreed Monday to pay $108
million to settle U.S. claims that Countrywide, the mortgage
lender it acquired two years ago, cheated hundreds of thousands
of customers facing foreclosure on their homes.

* An Agricultural Bank of China Ltd [ABC.UL] executive
affirmed the lender will look to raise $20 billion to $30
billion in its planned initial public offering, amid signs that
China’s ambitious fund-raising effort for its state lenders is
starting to encounter headwinds.

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PRESS DIGEST – Wall Street Journal – June 8