PRESS DIGEST – Wall Street Journal – Oct 14

Oct 14 (BestGrowthStock) – The following were the top stories in
The Wall Street Journal on Thursday. Reuters has not verified
these stories and does not vouch for their accuracy.

* AOL Inc (AOL.N: ) and several private-equity firms are
exploring making an offer to buy Yahoo Inc (YHOO.O: ), according
to people familiar with the matter, devising a bold plan to
marry two big Internet brands facing steep challenges.

* Steven Rattner, the Wall Street financier and Democratic
donor who oversaw the Obama administration’s auto-industry
restructuring, is finalizing a deal with the Securities and
Exchange Commission staff to resolve his role in a “pay to
play” scandal involving New York state’s public pension fund,
people familiar with the matter said Wednesday.

* Private-equity firms are on pace to suck a record amount
of cash out of the companies they own, responding to a robust
borrowing market and a possible dividend-tax increase in 2011.
But some investors are beginning to question whether the frenzy
has gone too far.

* JPMorgan Chase & Co (JPM.N: ) Chief Executive James Dimon
vowed to root out any flawed foreclosure-sale paperwork as the
nation’s largest bank in stock-market value widened a review of
its practices to 41 U.S. states.

* Terra Firma’s Guy Hands and Citi banker David Wormsley
are at the center of a high-stakes trial over the $6.3 billion
deal for EMI, one of the last and worst of the private-equity
boom.

* The number of people claiming unemployment benefits in
the U.K. rose in September for a second straight month, and the
jobless rate appears set to rise further as cuts in public
sector spending hit private sector companies.

* Apple Inc (Read more about Apple stock future.) (AAPL.O: ) shares reached a new milestone
Wednesday, trading above $300 for the first time, as the
electronics giant prepares to report quarterly results and
preview a new operating system next week.

* Constellation Energy Group Inc (CEG.N: ), a Baltimore-based
energy company, is considering a plan that would force its
partner, French state-owned utility Electricite de France SA
(EDF.PA: ), to pay up to $2 billion to buy 12 of its power
plants, people familiar with the matter said.

* A group of Anglo Irish Bank Corp [ANGIB.UL] creditors is
fiercely resisting government efforts to have them help pay for
the bank’s bailout, complicating Ireland’s already fractious
banking-system rescue.

* Standard Chartered Plc (STAN.L: ) plans to raise about 3.26
billion pounds ($5.15 billion) in a rights issue to boost its
capital position as new global banking rules take effect, a
move analysts said could be followed by global peers.

* The European Union backed away from imposing a moratorium
on deepwater oil drilling in European waters Wednesday, instead
recommending new legislation to enforce tough new EU-wide
safety standards for the offshore oil and gas industry.

* UBS AG (UBSN.VX: ) will give shareholders more insight into
how it nearly collapsed under the weight of billions in toxic
securities in 2008, but the Zurich-based bank’s efforts to
quell fury with former managers may fall short of some
investors’ expectations.

PRESS DIGEST – Wall Street Journal – Oct 14