PRESS DIGEST - Wall Street Journal - Oct 16
Oct 16 (Reuters) - The following are the top stories in the Wall Street Journal on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
* Spain is considering a request for a line of credit from the European Union's new bailout mechanism, a senior Spanish finance ministry official said Monday, giving the first details of the country's plans for seeking help to avoid its debt problems spinning out of control.
* Congressional staff began poring over thousands of pages of Federal Reserve Bank of New York documents regarding its monitoring of banks and a key interest rate, in a move likely to intensify scrutiny of regulators and financial companies involved in the matter.
* President Barack Obama and his Republican rival, Mitt Romney, enter their debate Tuesday night with different goals than the last time they met: Romney will try to build on growing strength among centrist voters that arose from his performance in the first debate, while Obama will aim to portray Mr. Romney as more conservative than his opponent has recently suggested.
* Mutual-fund company BlackRock Inc, the biggest provider of exchange-traded funds in the U.S., Monday said it plans to slash fees on some of its iShares ETFs, introduce new low-fee ETFs, reorganize its sales force and roll out BlackRock's first-ever television ads to spread its message to individual investors.
* Citigroup Inc posted an 88 percent decline in third-quarter net income, as gains in the company's securities and banking unit were swamped by one-time charges.
* Revenue growth slowed for the second consecutive quarter at French holding company LVMH, which is a barometer in the luxury-goods industry.
* Portugal's government braced for more public backlash against its austerity program after it unveiled a budget proposal for 2013 that centered on sharp tax increases.
* Federal regulators are considering giving mortgage lenders protection from certain lawsuits, according to people familiar with the matter, a move designed to encourage lending to well-qualified borrowers.
* Americans boosted their spending in September on everything from iPhones to restaurant meals in the latest sign that the consumer economy is gaining strength even as other sectors are weakening.
- Putin dissolves state news agency, tightens grip on Russia media
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Cold, ice grip U.S. as more snow to blanket East
- Thai PM calls snap election, protesters want power now |
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'