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PRESS DIGEST - Wall Street Journal - June 29

Mon Jun 29, 2009 10:20am IST
 
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June 29 (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.

* A look at why the U.S.'s toxic-asset program has stumbled underscores how difficult it has been to solve one of the economy's biggest problems: Mountains of bad debt sitting on banks' books.

* The latest delay to hit Boeing Co's (BA.N: Quote, Profile, Research) 787 Dreamliner has complicated an intricate set of negotiations, giving airlines a chance to wrangle concessions from the plane maker on delivery dates, installment payments and even the final purchase price.

* General Motors Corp's GMGMQ.PK Saturn is set to be sold to a new owner later this year, but for now, GM has asked Saturn not to trumpet the Penske Automotive Group (PAG.N: Quote, Profile, Research) connection.

* Even after a huge junk-bond rally this spring, yields are at historically lofty levels. That might make the high-yield market appear attractive, but some are urging caution.

* Two of the country's largest human-resources consulting firms, Towers Perrin Forster & Crosby and Watson Wyatt Worldwide Inc (WW.N: Quote, Profile, Research), agreed to merge in a deal reflecting recession-induced consolidation in the consulting industry.

* Hundreds of laid-off U.K. workers got their jobs back this week after organizing mass protests at energy plants across the country, coordinated through text messages and social-networking Web sites.

* Valero Energy Corp (VLO.N: Quote, Profile, Research), which has the capacity to process more crude than any other U.S. refiner, recently installed 33 windmills to supply a refinery with green electricity to produce gasoline and diesel.

* Twitter users have caused an uproar by impersonating celebrities on the popular micro-blogging service. Businesses, too, are targets of fake Twitter profiles -- sometimes from competitors.  Continued...

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

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road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

SHOWCASE

Capital Raising
Capital Raising

Analysis - China banks' rush for billions could trip markets.  Full Article 

 
Photo
Bonus Payout

"Bonus" has become a dirty word on Wall Street.  Full Article 

 
Bubble trouble?
Bubble trouble?

With the BSE Sensex at around 17,000 points, are the Indian equity markets looking at a possible bubble?   Commentary 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Recovery Path
Recovery Path

Indian techie logging out of downturn gloom.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
Risky Proposal
Risky Proposal

Rupert Murdoch courts trouble if he blocks Google on news.  Full Article