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PRESS DIGEST - Wall Street Journal - May 30
May 30, 2013 / 5:57 AM / 5 years ago

PRESS DIGEST - Wall Street Journal - May 30

May 30 (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.

* David Petraeus, the former U.S. Army general who resigned last year as CIA chief, is rebooting his career with KKR , the giant private-equity firm. ()

* China’s largest meat processor struck a surprise $4.7 billion agreement to buy Smithfield Foods, a deal that would mark the biggest Chinese takeover of an American company. ()

* Berkshire Hathaway’s MidAmerican Energy unit plans to buy Nevada utility NV Energy Inc for about $5.6 billion in cash, a sign that Warren Buffett’s corporate empire is betting on the recovery of a state hit hard by the recession. ()

* Blackstone is planning to withdraw close to $400 million from embattled hedge fund firm SAC Capital Advisors LP, potentially twice as much as earlier expected. ()

* The U.S. government won a victory against tax cheats with offshore bank accounts after Swiss officials agreed on Wednesday to let banks release information on the overall holdings of their American clients. ()

* The Obama administration is set to announce on Thursday that its signature consumer-mortgage modification initiative, due to expire at the end of the year, will be extended for two more years. ()

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