PRESS DIGEST - Wall Street Journal - Dec 4

Tue Dec 4, 2012 2:08am EST

Dec 4 (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.

* House Republicans on Monday made a fresh deficit-reduction proposal to the White House that calls for $800 billion in increased tax revenue, half of what President Barack Obama has proposed. ()

* At a time when American companies hold near record amounts of cash, many are surprisingly cash poor at home. That doesn't mean they could suddenly run out of money to pay their bills. But it does mean there could be unseen limits on their ability to pay dividends and buy back shares. ()

* Financially ailing companies such Hostess Brands often pay bonuses to executives before filing for bankruptcy protection. Federal law restricts "retention" bonuses paid to such "insiders" after a bankruptcy case is filed but not before. ()

* Securities regulators took aim at the Chinese affiliates of big global accounting firms on Monday, after a wave of accounting debacles at publicly traded Chinese firms that led to billions of dollars of shareholder losses. ()

* Oracle Corp said it will pay dividends for the next three quarters early, joining other companies that are accelerating payouts ahead of likely tax increases next year. ()

* A Seattle judge has dismissed Motorola Mobility's request for an injunction on Microsoft Corp products because they could infringe standard essential patents. The ruling is part of a broader case over how much a patent holder can charge for technology considered part of an industry standard. ()

* Minority shareholders in the traded unit of Russian oil company TNK-BP Ltd have filed to withdraw a $3 billion suit against BP Plc as the British energy giant and its partners close in on deals to sell Russia's No. 3 oil producer. ()

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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