November 16, 2011 / 5:59 AM / 9 years ago

PRESS DIGEST - Wall Street Journal - Nov 16

Nov 16 (Reuters) - 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.

* More than two weeks after MF Global filed for Chapter 11, some 33,000 customers are stuck in a sort of purgatory, with no access to their cash until a trustee liquidating the securities firm says they can get it.

* Europe’s debt troubles spilled over to top-rated nations that had been largely untouched by the crisis, including Austria, the Netherlands, Finland and France.

* Whistleblowers alleging that two banks overcharged clients for currency trades could provide an early test of a new program to encourage information about financial wrongdoing.

* Bank of America is on the right track, CEO Brian Moynihan is expected to tell his board. But dissent in the Merrill Lynch ranks promises to be a thorn in his side.

* Ford Motor Co this week lifts the veil on a new sport-utility vehicle that illustrates how much Chief Executive Alan Mulally has changed the way that the auto maker now looks at developing and making cars in a global marketplace.

* Geithner said Europe’s smoldering fiscal crisis should compel Congress to pass legislation that boosts the economy, warning that continued global pressures are constraining U.S. growth.

* Solyndra LLC postponed a layoff announcement until the day after the 2010 midterm elections following a push by the Department of Energy for a delay, House Republicans said Tuesday, citing emails they obtained in their probe of the company’s collapse.

* Citigroup Inc is preparing to eliminate 900 jobs in its securities and banking division, or about 5% of the unit’s world-wide staff, as turmoil in the equity and debt markets erodes revenue, people familiar with the situation said.

* Dell Inc said Tuesday that profit in its fiscal third quarter jumped nearly 9 percent, but revenue was flat and the company gave a cautious outlook because of the weak economy and component shortages caused by flooding in Thailand.

* Lawmakers moved Tuesday to slash pay for employees at Fannie Mae and Freddie Mac, presenting the latest challenge to federal regulators overseeing the firms’ operations.

* Continuing its push to seek acquisitions as part of its growth strategy, Samsung Electronics said Wednesday it acquired U.S. health-care equipment maker Nexus for an undisclosed amount.

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