PRESS DIGEST – Wall Street Journal – Sept 1

Sept 1 (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.

* U.S. President Barack Obama on Tuesday formally declared
an end to combat operations in the seven-year-old Iraq War and,
during an Oval Office address, promised to refocus the
government from prosecuting wars to rebuilding the U.S.
economy.

* In an ominous sign for the holiday shopping season,
American consumers behaved like skinflints in August, focusing
on bare necessities and budget-priced deals as they made
back-to-school purchases.

* Recent court rulings could pave the way for hundreds of
lawsuits — and potentially massive awards — against major
companies over expired patents.

* Currency trading volume around the world has hit $4
trillion a day, fueled by investors in the wealthiest nations
looking to diversify beyond their home markets in a time of
economic turmoil.

* Amazon.com Inc (AMZN.O: ) is working on a new subscription
service that would deliver TV shows and movies over the
Internet. Meanwhile, Apple Inc (Read more about Apple stock future.) (AAPL.O: ) plans to announce
99-cent rentals of TV shows from News Corp’s (NWSA.O: ) Fox
Broadcasting and Walt Disney Co’s (DIS.N: ) ABC network.

* More than a tenth of U.S. banks remain at risk of failure
even as some industry indicators, including credit quality,
show signs of revival.

* Sprint Nextel Corp (S.N: ) has bet its future on offering
speedy data services to mobile devices over a new high-speed,
“4G” network and has joined with upstart Clearwire Corp
(CLWR.O: ) to build it.

* Promising results for two experimental drugs provided
fuel for a race to develop medicines to replace blood thinner
warfarin for the prevention of blood clots — a global market
that could eventually exceed $20 billion a year in sales.

* The Commerce Department on Tuesday found that the Chinese
government unfairly subsidized $514 million of aluminum exports
to the U.S. last year. But the U.S. said it wouldn’t
investigate allegations that China’s currency policies function
as export subsidies for Chinese manufacturers of aluminum and
coated paper.

* Pennsylvania’s capital of Harrisburg said it will skip a
$3.29 million municipal-bond payment due in two weeks, marking
the second-largest general-obligation municipal-bond default
this year.

* Federal Reserve officials wrestled with a slew of
questions about the disappointing recovery before deciding at a
fractious Aug. 10 meeting to prevent their securities portfolio
from shrinking, according to minutes released Tuesday.

* As Sanofi-Aventis SA (SASY.PA: ) chief executive Chris
Viehbacher tries to pull off the biggest deal of his career —
an $18.5 billion offer for Genzyme Corp (GENZ.O: ) — he must
convince not only Genzyme’s reluctant board but also some of
Sanofi’s own directors of the acquisition’s merits.

PRESS DIGEST – Wall Street Journal – Sept 1