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PRESS DIGEST - Wall Street Journal - July 27
Tue, 27th Jul 2010 07:20
July 27 (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.
* Larry Ellison, founder and chief executive of software maker Oracle Corp, topped the list of best-paid executives of public companies during the past decade, receiving $1.84 billion in compensation, according to a Wall Street Journal analysis of CEO pay.
* Eighteen months after U.S. President Barack Obama administered a massive dose of spending increases and tax cuts, a fight has broken out about whether fiscal-stimulus medicine is curing the illness or making it worse.
* BP Plc's board approved Robert Dudley as chief executive. He faces the task of overhauling U.S. operations and repairing relations with Washington.
* Reanimating long-dormant scrutiny of IBM, European Union antitrust authorities said they have opened formal investigations into Big Blue's conduct in the market for powerful mainframe computers.
* Sales of new homes are near 47-year lows, yet the supply of new and existing homes is expected to grow in the months ahead as construction ramps up and a wave of foreclosed homes hits the market.
* Swiss bank UBS swung to a second-quarter profit, helped in part by a $566.7 million gain on its own debt and a fall in withdrawals at its private banking unit.
* Two years after the credit-market meltdown hit a once-booming sector of the municipal-bond market, Wall Street brokerage firms are being ordered to pay millions to investors who lost big on what some thought were low-risk investments.
* A bankruptcy investigator lent credence to claims that Tribune Co's $8.2 billion buyout deal in 2007 left it too shaky to survive, throwing up another possible hurdle to the media company's efforts to exit bankruptcy protection after nearly 20 months.
* Despite China's decision to adopt a 'flexible' exchange rate, the International Monetary Fund's long-delayed review of the Chinese economy found that the yuan is 'substantially undervalued,' according to IMF officials.
* The world's largest CT-scanner makers, including General Electric Co, Siemens AG and Philips, are zooming in on China. That nation plans to spend $125 billion to build tens of thousands of hospitals and clinics, extending health care to nearly all of its citizens.
* China's drive to support domestic technologies is likely to continue to cause trade disputes and political tensions with the U.S., says a new report from the U.S. Chamber of Commerce. Keywords: PRESS DIGEST/WSJ
(Compiled by Tenzin Pema; Bangalore Equities Newsdesk
+91 80 4135 5800; within U.S. +1 646 223 8780)
COPYRIGHT
Copyright Thomson Reuters 2010. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Larry Ellison, founder and chief executive of software maker Oracle Corp, topped the list of best-paid executives of public companies during the past decade, receiving $1.84 billion in compensation, according to a Wall Street Journal analysis of CEO pay.
* Eighteen months after U.S. President Barack Obama administered a massive dose of spending increases and tax cuts, a fight has broken out about whether fiscal-stimulus medicine is curing the illness or making it worse.
* BP Plc's board approved Robert Dudley as chief executive. He faces the task of overhauling U.S. operations and repairing relations with Washington.
* Reanimating long-dormant scrutiny of IBM, European Union antitrust authorities said they have opened formal investigations into Big Blue's conduct in the market for powerful mainframe computers.
* Sales of new homes are near 47-year lows, yet the supply of new and existing homes is expected to grow in the months ahead as construction ramps up and a wave of foreclosed homes hits the market.
* Swiss bank UBS swung to a second-quarter profit, helped in part by a $566.7 million gain on its own debt and a fall in withdrawals at its private banking unit.
* Two years after the credit-market meltdown hit a once-booming sector of the municipal-bond market, Wall Street brokerage firms are being ordered to pay millions to investors who lost big on what some thought were low-risk investments.
* A bankruptcy investigator lent credence to claims that Tribune Co's $8.2 billion buyout deal in 2007 left it too shaky to survive, throwing up another possible hurdle to the media company's efforts to exit bankruptcy protection after nearly 20 months.
* Despite China's decision to adopt a 'flexible' exchange rate, the International Monetary Fund's long-delayed review of the Chinese economy found that the yuan is 'substantially undervalued,' according to IMF officials.
* The world's largest CT-scanner makers, including General Electric Co, Siemens AG and Philips, are zooming in on China. That nation plans to spend $125 billion to build tens of thousands of hospitals and clinics, extending health care to nearly all of its citizens.
* China's drive to support domestic technologies is likely to continue to cause trade disputes and political tensions with the U.S., says a new report from the U.S. Chamber of Commerce. Keywords: PRESS DIGEST/WSJ
(Compiled by Tenzin Pema; Bangalore Equities Newsdesk
COPYRIGHT
Copyright Thomson Reuters 2010. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
