December 12, 2011 / 7:03 AM / 9 years ago

PRESS DIGEST - Wall Street Journal - Dec 12

Dec 12 (Reuters) - 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.

* European governments and investors await a verdict on last week’s summit accord from the one institution they believe can halt the euro zone’s debt spiral: the ECB.

* The private security contractor long overshadowed by its original name, Blackwater, on Monday will rechristen itself Academi, ditching its former name, XE Services.

* Abbott Laboratories is paying $400 million to Reata Pharmaceuticals Inc. for rights to molecules showing early promise treating chronic diseases like rheumatoid arthritis and multiple sclerosis, the companies said Sunday.

* The circumstances surrounding the deletion of a missing girl’s voice mails in the spring of 2002-a key part of the phone-hacking scandal that has engulfed News Corp this year-are now in question as new evidence emerges in a U.K. police investigation.

* Bud is coming to network reality TV. “Bud United presents: The Big Time” will air Saturday afternoons on ABC for seven weeks, starting Jan. 21, as part of a push by Anheuser-Busch InBev NV to build more buzz around its flagship Budweiser brand.

* General Motors Co could be in for a lengthy investigation over why the batteries on several Chevrolet Volt cars caught fire, potentially hurting sales of the plug-in vehicle.

* Some walnut growers have challenged Diamond Foods Inc’s explanation of mysterious payments to them, further tangling an accounting question that has delayed the snack maker’s planned $2.35 billion acquisition of Pringles from Procter & Gamble Co.

* With the Indian government backtracking from retail liberalization, retailers like Wal-Mart Stores Inc and Tesco PLC are retooling their plans.

* Many companies that collect mortgage payments hire outside firms to train employees and develop scripts for them to use when talking to borrowers. But Ocwen Financial Corp., which specializes in risky loans, has its own team of social psychologists.

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