PRESS DIGEST – Wall Street Journal – Nov 3

Nov 3 (BestGrowthStock) – The following were the top stories in The
Wall Street Journal on Wednesday. Reuters has not verified
these stories and does not vouch for their accuracy.

* Republicans won control of the House of Representatives
and Democrats managed to retain their majority in the Senate
following months of voter discontent over the economy and
government policy.

* Just a day before the Federal Reserve was expected to
open its credit spigot to boost subpar U.S. growth, central
banks in India and Australia tightened theirs by raising
interest rates to fight inflation.

* BP Plc (BP.L: ) will likely pay a much smaller dividend and
spend more on oil exploration as it remakes itself into a
leaner, more growth-oriented company following the Gulf of
Mexico oil spill, its new chief executive said Tuesday.

* Borrowing costs of weaker European countries are again on
the rise amid a steady stream of bad news, raising fears
debtholders could become the “bailer-out of last resort.”

* Facebook told lawmakers it had taken steps to prevent the
sharing of personal information about users, including
temporarily suspending certain applications from its site.

* Spain’s Banco Bilbao Vizcaya Argentaria (BBVA.MC: ) said it
will spend close to $6 billion for stake in Turkey’s Garanti
Bankasi (GARAN.IS: ), citing the strong growth prospects of an
economy that lately has been booming like China’s.

* An Oracle Corp (ORCL.O: ) attorney painted SAP AG (SAPG.DE: )
as a scheming rival that intentionally took its intellectual
property in opening arguments Tuesday in their closely watched
copyright-infringement trial.

* A juror has been dismissed from a trial over the 2007
sale of EMI Group Plc after lawyers for Citigroup Inc (C.N: )
raised questions Tuesday about her connection to a documentary
on the financial crisis by filmmaker Michael Moore.

* The stubbornly high U.S. jobless rate continues to plague
the biggest beer makers, which are expected to report declining
third-quarter U.S. unit sales this week, even as they divulge
promising signs due to greater pricing power.

* Offshore driller Pride International Inc (PDE.N: ) is
evaluating strategic options that could include a possible sale
of the company after recent merger interest from rivals, people
familiar with the matter said.

* Investigators and a band of armed, masked police raided
the Moscow offices of Russian banker and newspaper owner
Alexander Lebedev Tuesday.

* UniCredit SpA (CRDI.MI: ) Chairman Dieter Rampl faces a
showdown with the Italian bank’s governance committee Wednesday
in a simmering dispute over strategy that could lead him to
resign before the bank’s April general meeting, people with
knowledge of the situation said Tuesday.

PRESS DIGEST – Wall Street Journal – Nov 3