PRESS DIGEST - Wall Street Journal - June 29
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...
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