PRESS DIGEST – Wall Street Journal – May 11

May 11 (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.

* Global markets roared back in response to the EU’s nearly
$1 trillion rescue plan to save the euro from a public-debt
crisis that has threatened to derail economic recovery.

* Executives from BP Plc (BP.L: ), Transocean Ltd (RIG.N: ) and
Halliburton Co (HAL.N: ) began pointing fingers on Monday over
who bears ultimate responsibility for the April 20 oil-rig
explosion that took 11 lives and is spilling oil into the Gulf
of Mexico. The question will loom large at a Senate hearing
Tuesday that will hear from executives of the three companies.

* Major stock exchanges agreed to introduce temporary
trading limits on individual stock moves, following on
Thursday’s volatile trading session, according to people
familiar with the matter.

* The war of words between the Obama administration and
WellPoint Inc (WLP.N: ) escalated over the weekend, as
WellPoint’s chief executive rebuked the president for what she
said was false information he gave the public about the
insurer’s coverage of breast-cancer patients.

* Fannie Mae (FNM.N: ) asked the U.S. government for an
additional $8.4 billion in aid after posting an $11.5 billion
net loss for the first quarter, the latest sign that the
bailout of the mortgage investor and its main rival, Freddie
Mac (FRE.N: ), is likely to be the most expensive legacy of the
U.S. housing-market bust.

* American International Group Inc (AIG.N: ) and Britain’s
Prudential Plc (PRU.L: ) are in talks to revise the composition
of their $35.5 billion deal for AIG’s largest Asian life
insurance business, according to people familiar with the
matter.

* Retail sales fell in April from a year earlier while
house prices rose, as the U.K.’s inconclusive May 6 election
loomed, surveys showed.

* The Ras Al Khaimah United Arab Emirate will invest up to
$500 million in Georgia’s busiest Black Sea port of Poti over
the next four to five years through its investment authority
Rakia, senior executives in its Georgian subsidiaries said in
interviews this week.

* Vedanta Resources Plc (VED.L: ) said Monday it has acquired
the zinc assets of Anglo American Plc (AAL.L: ), creating the
world’s largest zinc and lead producer.

* After a rapidly freezing mix of natural gas and water
derailed attempts to place a big underwater dome on top of a
deepwater well leaking oil into Gulf of Mexico, BP Plc (BP.L: )
hopes a smaller dome will do the trick, Chief Executive Tony
Hayward said Monday.

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PRESS DIGEST – Wall Street Journal – May 11