November 10, 2011 / 6:09 AM / 9 years ago

PRESS DIGEST - Wall Street Journal - Nov 10

Nov 10 (Reuters) - The following were the top stories in The Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* Investors stampeded out of Italian bonds, sparking a broader decline across global markets.

* Zygna, the video game maker, which is expected to go public soon, has demanded that some employees give back restricted shares under threat of dismissal.

* Penn State’s Board of Trustees said it had dismissed coach Joe Paterno and decided Graham Spanier, the school’s president, should step down in the wake of a child sex-abuse scandal at the school.

* Goldman Sachs and Morgan Stanley , which became bank-holding companies to help them survive the financial crisis, are considering an accounting change that would make them look even more like a traditional bank.

* A federal judge sharply questioned the Securities and Exchange Commission about why it didn’t force Citigroup to admit to “what the facts are” before the agency agreed to settle a mortgage-bond case.

* The EPA is set to make final new air-pollution standards for coal-fired power plants by mid-December, sparking disagreement among power companies about how quickly aging coal plants need to be pushed offline.

* For Sprint Nextel Corp , a little-known government program that subsidizes cellphone service for low-income customers is an important driver of subscriber growth.

* General Motors on Wednesday reported a 12 percent drop in third-quarter earnings as operations outside of North America struggled to gain traction, hampered by economic turmoil, currency issues and a need to restructure some of its own operations.

* Sotheby’s rounded out New York’s major fall auctions Wednesday by selling a quartet of Clyfford Still paintings for $114 million, nearly twice their combined asking price.

* A regulatory panel handed Thomas Weisel Partners and one of its former executives a near-complete victory in a case involving allegations that they improperly “stuffed” $15.7 million of auction-rate securities into client accounts just before the market crashed in 2008.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below