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PRESS DIGEST - Wall Street Journal - March 20
March 20, 2012 / 7:02 AM / 6 years ago

PRESS DIGEST - Wall Street Journal - March 20

March 20 (Reuters) - The following were the top stories in The Wall Street Journal on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

* House Republicans, seizing on what they hope is a potent campaign issue, will introduce a 2013 budget on Tuesday that cuts tax rates and provides for two individual brackets of 10 percent and 25 percent.

* Brazilian prosecutors’ planned criminal charges against Chevron executives for offshore oil leaks threaten to stifle foreign companies’ drilling plans in this petroleum-rich nation.

* Apple said it would pay a dividend to shareholders and buy back up to $10 billion in stock, heeding calls for the technology heavyweight to deploy its massive cash pile.

* Glencore International is near a deal to buy Canadian agribusiness company Viterra, which has a current market value of $6 billion.

* Gap on Tuesday will unveil its first store in South Africa, a steppingstone onto a continent where the average economic growth is faster than 5 percent and the average age is 19.

* Four pension funds severed ties with Bank of New York Mellon and State Street amid government investigations into whether the banks overcharged clients for currency trading.

* China’s demand for iron ore is ‘flattening out’, a senior executive at BHP Billiton Ltd said Tuesday.

Demand growth for the commodity used to make steel will drop “to single digits if it is not already there,” Ian Ashby told a press conference in Perth.

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