Reuters: Bankruptcy News: PRESS DIGEST - Wall Street Journal - July 22

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PRESS DIGEST - Wall Street Journal - July 22 Jul 22nd 2013, 05:03 July 22 | Mon Jul 22, 2013 1:03am EDT July 22 (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. * Corporate battle lines are being drawn over the congressional effort to overhaul the tax code, pitting giants such as General Electric Co and Microsoft Corp against each other as they maneuver to influence the debate. () * A series of disappointing economic reports in recent weeks have dashed economists' hopes from earlier this year that the United States was at last entering a phase of solid, self-sustaining growth. () * J.P. Morgan Chase & Co is close to a roughly $410 million settlement of Federal Energy Regulatory Commission allegations that the company manipulated energy markets in California and the Midwest, said people familiar with the conversations. () * Detroit Mayor Dave Bing on Sunday left the door open for a federal bailout after the city's bankruptcy filing, saying the nation's response would "set a benchmark" for aiding other struggling cities. () * U.S. securities regulators accused Steven Cohen of ignoring "red flags" that should have alerted him to insider trading at his hedge fund firm and moved to ban the billionaire for life from the industry where he made his fortune. () * Headaches for Huawei Technologies Co Ltd keep growing, as the U.K. government said that it would conduct a review of the Chinese company and a former U.S. intelligence official accused Huawei of spying for Beijing. () * U.S. military spending is likely to stabilize over the next year, giving fresh clarity on the industry's future that could help thaw mergers and acquisitions activity, Rockwell Collins Chief Executive Clay Jones said. () * Senators of both parties are rejecting removal of food-stamp funding from a multiyear farm bill, setting up a clash with conservative House Republicans who want to pare back federal nutrition programs that have grown steadily in recent years. () Link this Share this Digg this Email Reprints

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