Reuters: Bankruptcy News: PRESS DIGEST - Wall Street Journal - July 11

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PRESS DIGEST - Wall Street Journal - July 11 Jul 11th 2012, 05:57 July 11 | Wed Jul 11, 2012 1:57am EDT July 11 (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. * A deepening scandal in the futures-trading business has left an elder statesman of the industry hospitalised after a suicide attempt and regulators seeking to find out what happened to about $215 million of customer money allegedly missing from his firm Peregrine Financial Group Inc. * JPMorgan Chase & Co plans to reclaim millions of dollars in stock from executives at the centre of the trading blunder that shocked Wall Street and tarnished the reputation of Chief Executive James Dimon. The bank is expected to claw back compensation from individuals including Ina Drew, who ran the company's Chief Investment Office, according to people familiar with the bank's plans. * The House is expected to vote Wednesday to repeal President Barack Obama's health-care law, as Republicans continue their furious response to the Supreme Court decision to uphold the law. * American Airlines parent AMR Corp plans to formally sound out potential partners about a merger or other investment deal in coming weeks, the company said, setting the stage for a showdown over the airline's path out of bankruptcy. * Robert Diamond agreed to give up an additional bonus of up to £20 million ($31 million) as pressure from British lawmakers mounted on the former Barclays Plc chief executive over his role in an interest-rate-rigging scandal and its aftermath. * China is ramping up state spending to counter its sharpest decline in growth since the financial crisis, further entrenching state-owned companies and dimming the hopes of some that China would use the slowdown to restructure its economy with market-oriented changes. * Research In Motion Ltd's chairwoman said on Tuesday the company plans to further shake up its board, the latest move by the BlackBerry maker to appease frustrated shareholders. * Amazon.com Inc is working with component suppliers in Asia to test a smartphone, people familiar with the situation said, suggesting that the Internet retail giant, which sells the Kindle Fire tablet computers, is considering broadening its mobile-device offerings. Link this Share this Digg this Email Reprints

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