PRESS DIGEST – Wall Street Journal – Oct 13

Oct 13 (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.

* The Obama administration said it is lifting a
controversial moratorium on deep-water oil drilling, but it’s
unclear how quickly idled oil rigs can go back to work in the
Gulf of Mexico.

* Criticisms that the U.S. Federal Reserve Chairman Ben
Bernanke made of Japan’s central bank a decade ago — saying it
was too timid in stimulating Japan’s economy to prevent
deflation — give hints of what the Fed’s next steps might be.

* Some real-estate agents say the housing recovery is at
risk because foreclosure sales have slowed amid concerns over
the extent to which banks filled fraudulent foreclosure
documents.

* Intel Corp (INTC.O: ) posted higher quarterly profit and
said it was seeing healthy global corporate demand for
computers, allaying concerns that businesses were pulling back
on technology spending.

* U.S. Treasury Secretary Timothy Geithner said the U.S.
wants to make sure the yuan appreciates “at a gradual but still
significant rate.”

* Amid customer complaints that Starbucks Corp (SBUX.O: ) has
reduced the fine art of coffee making to a mechanized process
with all the romance of an assembly line, Starbucks baristas
are being told to stop making multiple drinks at the same time
and focus instead on no more than two drinks at a time,
according to company documents.

* Germany’s top central banker used a high-profile
appearance in the U.S. to urge the European Central Bank to
halt purchases of the government debt of countries such as
Greece and Ireland, deepening a rift within the central bank’s
board over the controversial decision.

* Bank of Japan Governor Masaaki Shirakawa hinted Wednesday
that the central bank may expand its recently announced 5
trillion yen program to purchase a range of financial assets,
an innovative measure meant to spur the deflation-strapped
economy.

* Bludgeoned by lower-priced rivals and strapped for cash,
grocer Great Atlantic & Pacific Tea Co is sounding out
restructuring advisers about reworking its debt-heavy balance
sheet, said people familiar with the matter.

* When they last met three weeks ago, several Federal
Reserve policymakers agreed that they probably would need to
restart a program of buying U.S. Treasury bonds and debated
ways to lift the public’s expectations for future inflation,
say minutes of the policy meeting.

* Verizon Wireless’s embrace of Google Inc (Read more about Google Stock Analysis)’s (GOOG.O: )
Android operating system did more than provide the carrier with
devices to compete with the iPhone. It also gave the company
experience dealing with the data hogs who can hobble a wireless
network.

PRESS DIGEST – Wall Street Journal – Oct 13