PRESS DIGEST - Wall Street Journal - Nov 14

Wed Nov 14, 2012 1:36am EST

Nov 14 (Reuters) - The following are the top stories in the Wall Street Journal on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

* U.S. President Barack Obama will start budget talks with congressional leaders on Friday by calling for $1.6 trillion in additional tax revenue in the next decade, far more than Republicans will likely accept. ()

* Netflix Inc is steeling itself to do battle with activist investor Carl Icahn, who bought a 10 percent stake in the video-steaming company and is pushing for its sale to a cash-rich technology company. ()

* The Securities and Exchange Commission has deepened its probe into whether Knight Capital Group Inc did enough to police its trading systems before computer errors nearly destroyed the brokerage. ()

* Goldman Sachs Group Inc is becoming the Wal-Mart of Wall Street. Chairman and Chief Executive Officer Lloyd Blankfein told an audience of investors on Tuesday that the firm was increasingly focused on being the "low-cost provider," adapting technology and focusing on operational efficiency to maintain profit growth. ()

* Chesapeake Energy Corp's prospects of coaxing crude oil from Ohio's rust belt have dimmed, the company's chief executive said on Tuesday, though he maintained the region remains key to the natural-gas giant's future. ()