PRESS DIGEST – Wall Street Journal – Oct 18

Oct 18 (BestGrowthStock) – The following were the top stories in
The Wall Street Journal on Monday. Reuters has not verified
these stories and does not vouch for their accuracy.

* The U.K., which is readying its scalpel for aggressive
spending cuts, is planning its most sensitive incision into its
already stretched military, shaving around 8 percent off its
$59 billion military budget over the next five years.

* The Federal Reserve’s latest effort to juice the U.S.
economy is making many investors in emerging-market and
commodity-producing nations confident the rally has longer to
run.

* Corporate pension plans that once had almost 70 percent
of their assets invested in the stock market have reduced that
to about 45 percent as they seek to reduce volatility.

* The U.K.’s private sector may be able to create enough
new jobs to make up for those lost in the public sector as a
result of the government’s austerity drive, the country’s
leading business organization said Monday.

* Debate over regulation of hedge funds will take center
stage at a meeting of European Union finance ministers this
week, overshadowing previously planned discussions on new taxes
for banks and an overhaul of the bloc’s economic-policy rules.

* Internet icons like Facebook Inc and Twitter Inc have yet
to go public, but that isn’t stopping a growing number of funds
from offering investors a chance to get in on the potential
action.

* BHP Billiton Ltd (BHP.AX: ) and Rio Tinto Ltd (RIO.AX: ),
citing regulatory hurdles, said Monday that they terminated a
planned $116 billion deal that would have secured one-third of
the world’s iron-ore output for the two mining giants.

* Apple Inc (Read more about Apple stock future.) (AAPL.O: ) will unveil Wednesday a new version of
its computer operating software, a development that comes as
the consumer-electronics giant makes a more aggressive move to
expand in a market that has historically eluded it: corporate
customers.

* In just a year, the luxury-goods industry has gone from
bust to boom. Strong sales of bags, clothing and perfume during
the crucial holiday season could boost the luxury-goods
industry to near-record sales, according to a Bain & Co study
to be published Monday, as the sector rebounds from a 2009
decline that was the industry’s worst since it began
consolidating in the 1990s.

* Asian life insurer AIA Group Ltd marked the launch of its
up to US$20.6 billion share sale to Hong Kong-based retail
investors on Sunday by emphasizing its China growth strategy
and a renewed push to sell through the region’s banks.

* Oil companies in Israel, led by Texas-based Noble Energy
Inc (NBL.N: ) this week are expected to start drilling one of the
world’s most promising natural-gas prospects of recent years,
according to executives.

PRESS DIGEST – Wall Street Journal – Oct 18