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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...

A man walks with the Indian national flag in front of the Taj Mahal hotel, one of the sites of last year's militant attacks, in Mumbai November 26, 2009. Thursday marks the first year anniversary of the Mumbai attacks. REUTERS/Punit Paranjpe
One Year Later

Mumbai's police paraded past some of the city's landmarks in a show of strength as the city marked the first anniversary of militant raids that killed 166 people  Slideshow | Full Coverage 

A supporter of Bharatiya Janata Party (BJP) holds a picture of BJP leader Lal Krishna Advani during an election campaign rally in Balasinor, about 90 km (56 miles) east of Ahmedabad, April 14, 2009. REUTERS/Amit Dave
Liberhan Commission Report

The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya.  Full Article 

Thierry Henry's handball scandal

Barcelona's Thierry Henry takes part in a training session at Nou Camp Stadium in Barcelona, November 23, 2009. Barcelona and Inter Milan will play their soccer Champions League match on Tuesday. REUTERS/Albert Gea
FIFA to hold meeting

FIFA to hold an extraordinary meeting before World Cup draw to discuss Thierry Henry's handball in the qualifiers and discovery of match-fixing ring by German police.  Full Article