PRESS DIGEST – Wall Street Journal – Oct 26

Oct 26 (BestGrowthStock) – The following were the top stories in
The Wall Street Journal on Tuesday. Reuters has not verified
these stories and does not vouch for their accuracy.

* Warren Buffett tapped a little-known hedge fund manager
as the leading candidate to succeed him as the chief investment
officer of Berkshire Hathaway Inc (BRKa.N: ) when the legendary
stock picker eventually steps down.

* Spain’s banks are selling valuable branches and seeking
government help to find renters for foreclosed homes as they
try to prop up their bottom lines amid continuing trauma in
their deteriorating loan portfolios and other problems.

* A combination of low interest rates and growing fears of
rising prices enabled the U.S. government to sell
inflation-protected Treasury bonds with a negative yield for
the first time ever on Monday.

* Robert Benmosche, chief executive of American
International Group Inc (AIG.N: ), has been diagnosed with cancer
and is undergoing “aggressive” chemotherapy, the
government-controlled insurer said on Monday.

* BP Plc’s (BP.L: ) new chief executive, Bob Dudley, launched
a feisty defense of his company’s response to the Gulf of
Mexico oil spill this year, accusing the media and some people
in the oil industry of fear-mongering and a “rush to judgment”
that exacerbated the crisis.

* For the past 12 months, Ford Motor Co (F.N: ) has been on a
campaign to lift its credit rating out of “junk” territory and
get back to investment grade. Judging by the way bond investors
view the company, it’s just about there.

* Bank of England Governor Mervyn King said Monday that
new, tougher bank capital and liquidity requirements aren’t
sufficient to stop another crisis from occurring and it is
vital to take further precautions.

* A former co-head of a Goldman Sachs Group Inc (GS.N: )
in-house trading team, Pierre-Henri Flamand, is due to raise
more than $1 billion from investors, in what bankers believe to
be the largest hedge-fund launch globally this year.

* The dollar fell broadly Monday as the statement from the
Group of 20 nations cleared the way for investors to focus on
another round of anticipated quantitative easing from the
Federal Reserve.

PRESS DIGEST – Wall Street Journal – Oct 26