PRESS DIGEST – Wall Street Journal – Oct 27

Oct 27 (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.

* Senior Republicans in the House, facing a clamor from the
party’s base to hew to conservative principles and rein in
spending, are homing in on that message as they jockey to
become chairmen of the chamber’s most powerful committees.

* A secretive panel that helps set Medicare’s fees has
stoked a debate over whether doctors have too much control over
the flow of taxpayer dollars in the $500 billion program.

* GlaxoSmithKline Plc (GSK.L: ) agreed to pay $750 million
and plead guilty to a criminal charge to settle a U.S.
government investigation of manufacturing deficiencies at its
former plant in Puerto Rico.

* The new heir apparent to Berkshire Hathaway Inc’s
(BRKa.N: ) roughly $100 billion investment portfolio came to the
job the old-fashioned way: He applied for it. Wall Street was
still agog Tuesday about Warren Buffett’s selection of Todd
Combs, a little-known fund manager who is the leading contender
to take over Buffett’s portfolio when the investing legend dies
or retires.

* The biggest U.S. banks virtually doubled their collective
earnings in the third quarter just by injecting $8.1 billion
into net income from funds they had set aside to cover loan
losses.

* The Commodity Futures Trading Commission’s Bart Chilton
is putting pressure on the agency to take action in a
high-profile, two-year-old investigation of the silver market.

* EDF SA (EDF.PA: ) and Constellation Energy Group Inc
(CEG.N: ) agreed to end a joint venture to develop nuclear power
plants together after the relationship soured in recent months.

* Apple Inc (Read more about Apple stock future.) (AAPL.O: ) announced Tuesday that it launched an
online store and a simplified-Chinese version of its App Store
for customers in China, the latest move in an aggressive
expansion by the company after years of neglecting the market.

* Goldman Sachs Group Inc (GS.N: ) has always closely guarded
the secrets of its lucrative high-speed trading system. Now the
securities firm is getting a help from an unusual source:
federal prosecutors. Federal prosecutors this week asked a
federal district judge to seal the courtroom at the forthcoming
trial of a former Goldman computer programmer accused of
stealing the firm’s computer code. The trial is set to start to
late November.

* UBS AG (UBSN.VX: ) has reversed, for now, a heavy two-year
outflow of funds from its wealthy clients, benefiting from an
aggressive campaign to keep private money after the bank was
roiled by both the financial crisis and charges of tax
evasion.

PRESS DIGEST – Wall Street Journal – Oct 27