PRESS DIGEST – Wall Street Journal – May 18

May 18 (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.

* A Journal examination of accidents prior to Deepwater
Horizon suggests the oil business has focused on developing
experimental techniques without adequately planning for
trouble.

* The French government said it plans to increase the
retirement age, setting up a battle with unions who want the
French to continue retiring earlier than most other Europeans.

* The FDIC has inherited hundreds of potentially worthless
bonds that have come back to haunt the Wall Street firms that
sold them, the credit-rating firms that graded them and the
hundreds of small banks that bought them.

* The Senate approved Monday a measure that could make it
harder to deploy U.S. funds in rescuing foreign governments,
signaling Congress’s unease with the sort of global economic
aid recently given to Greece.

* The pending takeover of Fidelity National Information
Services Inc (FIS.N: ) collapsed late Monday, with a Blackstone
Group-led consortium dropping its plan to acquire the
financial-data processor, according to a person familiar with
the situation.

* Ten months after emerging from a government-orchestrated
bankruptcy, General Motors Co [GM.UL] on Monday reported its
first quarterly profit in three years, driven by dramatic cost
reductions and improved global sales.

* Crude-oil prices fell to the lowest point since December,
as investors who had bought oil anticipating a steady global
economic recovery rushed back to the safety of the dollar.

* The euro eked out a gain against the dollar Monday,
rebounding from a four-year low hit overnight, though concerns
over the euro zone’s sovereign-debt crisis kept the common
currency under pressure.

* Boeing Co (BA.N: ) said it encountered another design flaw
on its overdue 787 Dreamliner jet, and that the problem had
been one of the factors that forced an ongoing five-week delay
in shipments of fuselage parts.

* Man Group Plc (EMG.L: ) said it would pay $1.6 billion in
cash and new shares to acquire GLG Partners Inc (GLG.N: ) in a
bid to diversify at a time when its main product’s performance
has struggled.

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PRESS DIGEST – Wall Street Journal – May 18