PRESS DIGEST - Wall Street Journal - Nov 22

Thu Nov 22, 2012 2:02am EST

Nov 22 (Reuters) - The following are the top stories in the Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* A Facebook experiment in democracy is fading. On Wednesday the social network announced several updates to its governing policy that may ultimately limit the community's ability to overturn future policy decisions. ()

* Hewlett-Packard Co's allegations of accounting fraud at its Autonomy software unit on Tuesday overshadowed another rough quarter for the technology company. By Wednesday morning, some analysts had downgraded HP's stock in research notes with titles like "Throwing in the towel," and "More Shoes Than Imelda Marcos." ()

* Hostess Brands Inc secured a bankruptcy judge's permission to go out of business and put thousands of employees out of work after a failed last-ditch mediation session. ()

* Just months after Banco Santander SA pulled off a successful Mexican initial public offering, the Spanish bank is aiming to repeat the feat in the U.S. by launching an IPO of its fast-growing American car-financing unit, according to people involved with the effort. ()

* French auto maker Renault SA plans to hire additional workers and make new car models in Spain after wrangling concessions from local unions, raising pressure on its French unions as the car maker pushes to cope with a sharp slide in its European car sales. ()

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