PRESS DIGEST – Wall Street Journal – May 28

May 28 (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.

* Royal Dutch Shell Plc (RDSa.L: ) is expected to disclose
Friday that it has reached an agreement to pay nearly $5
billion for East Resources Inc, a closely held U.S. natural-gas
explorer, according to people familiar with the deal, a
transaction that underscores the frenzied global interest in
North American shale-gas production.

* U.S. money-market mutual funds – which lent heavily to
European banks whose balance sheets are packed with problem
debts – now are pulling back amid spreading jitters about the
health of European banks and the inability of European
governments to rejuvenate them quickly.

* U.K. insurer Prudential Plc (PRU.L: ) is in talks to cut
the price of its $35.5 billion acquisition of American
International Group Inc’s (AIG.N: ) largest Asian life-insurance
unit, as the deal – which would help AIG pay back U.S.
taxpayers – faces danger of collapse.

* Ford Motor Co (F.N: ) is preparing to phase out its 71-year
old Mercury brand, adding to the list of storied Detroit
nameplates that reached the end of the road in recent years as
the industry has become more competitive.

* Former hedge-fund titan Arthur Samberg agreed Thursday to
pay nearly $28 million to settle insider-trading allegations,
ending a long-running case that got an unexpected boost from
revelations in the divorce case of the accused tipper.

* Spain pushed through measures to accelerate the cleanup
of its public-sector accounts and banking system, amid intense
international pressure to deal with its deep economic crisis.

* U.S. Treasury Secretary Timothy Geithner called on
Germany and Europe to support global economic growth by cutting
budget deficits judiciously, and to avoid uncoordinated steps
on financial regulation that undermine fragile confidence in
financial markets.

* Gucci Group Thursday named a successor to deceased
designer Alexander McQueen, choosing his deputy, Sarah Burton,
as the label’s new creative chief.

* Asda, the British arm of Wal-Mart Stores Inc (WMT.N: ), is
buying the U.K. stores of the Danish Netto chain in a 778
million pound ($1.12 billion) transaction, filling a strategic
gap for Wal-Mart in Britain – smaller stores that can compete
with rivals that have opened downsized local markets in recent
years.

* Motorola Inc (MOT.N: ) has reached a deal with Verizon
Wireless to ensure some of its upcoming smartphones will be
heavily promoted by the largest U.S. carrier, a big boost as
Motorola tries to turn around its struggling handset business.

Stock Analysis

PRESS DIGEST – Wall Street Journal – May 28