Wednesday, March 13, 2013

Reuters: Bankruptcy News: PRESS DIGEST - Wall Street Journal - March 13

Reuters: Bankruptcy News
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PRESS DIGEST - Wall Street Journal - March 13
Mar 13th 2013, 07:14

March 13 | Wed Mar 13, 2013 3:14am EDT

March 13 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

* The U.S. Department of Agriculture is considering buying 400,000 tons of sugar to stave off a wave of defaults by sugar processors that borrowed $862 million under a government price-support program.

* Top spies in the United States told senators that the country is vulnerable to attacks and destruction of computer networks, both from government-sponsored assaults as well as from hackers and terrorists.

* The Federal Aviation Administration gave initial approval to Boeing Co's proposed package of fixes for the batteries on its 787 Dreamliner, a major boost for the aerospace giant's efforts to end a nearly two-month-long grounding of its flagship jetliner.

* President Obama's nominee to lead the Securities and Exchange Commission, Mary Jo White, in a Senate hearing on Tuesday, fended off pointed questions from lawmakers about whether her time spent defending Wall Street banks would impinge on her ability to police Wall Street.

* Short-form ads on Twitter and Facebook have the same basic requirement as any old-fashioned ad: They can't mislead consumers, federal regulators said Tuesday.

* In the latest effort by private equity firms to broaden their customer base, Carlyle Group LP is letting some people invest in its buyout funds with as little as $50,000.

* In 2012, Samsung Electronics Co Ltd spent $401 million advertising its phones in the United States to Apple Inc's $333 million. Its ad blitz has helped Samsung open a huge lead in the global smartphone race.

* Connecticut Attorney General George Jepsen confirmed Google Inc agreed to pay $7 million to settle with 38 U.S. states over its Street View cars collecting data from unsecured Wi-Fi networks.

* Hostess Brands Inc said it would seek court approval to sell its Twinkies and other cake brands to Apollo Global Management LLC and Metropoulos & Co after no rival bidders challenged their $410 million offer.

* The oil industry is increasing spending on research that it hopes will make it cheaper and easier to coax more crude and natural gas from shale formations and deep-sea oil fields, extending and accelerating the U.S. energy boom.

* Starr International Co, run by a former chief executive of American International Group Inc, is pressing ahead with allegations against the U.S. government on AIG's behalf despite the insurer's decision to stay out of the legal dispute.

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