PRESS DIGEST - Wall Street Journal - Dec 7

Fri Dec 7, 2012 2:35am EST

Dec 7 (Reuters) - The following are the top stories in the Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* Apple Inc plans to build some Mac computers in the U.S. for the first time in about a decade, investing $100 million next year in an effort that could serve as a high-profile test of American manufacturing competitiveness. ()

* U.S. officials launched a criminal probe of a $10 million sale of stock by Big Lots Chief Executive Fishman before the company announced news that sank its stock. ()

* The Securities and Exchange Commission said it may bring suit against Netflix Inc and Chief Executive Reed Hastings over a post that Hastings made on Facebook several months ago, marking one of the higher-profile reverberations for an executive for posting on Facebook Inc's namesake site. ()

* Apple Inc and Samsung Electronics Co spent their latest go-round in federal court by dickering over more than $1 billion in damages set by a jury in August following a high-profile patent trial. ()

* The Washington Post, one of the last holdouts against the trend of charging readers for online access to newspaper articles, is likely to reverse that decision in 2013, according to people familiar with the matter. ()

* IBM, a bellwether for employee benefits, is overhauling its retirement program to contribute once a year to employee 401(k) accounts in a lump-sum payment. ()

* Tax uncertainty in Washington is setting off a mad scramble among wealthy taxpayers and charities to maximize donations before the end of the year. ()

* Military counterterrorism officials are seeking more capability to pursue extremist groups in Africa and elsewhere that they believe threaten the U.S., and the Obama administration is considering asking Congress to approve expanded authority to do it. ()

* Alcatel-Lucent is considering mortgaging parts of its past and future as it looks to buy time for a restructuring. ()

* Investors have been flocking to buy bonds issued by top-rated companies. But some of the biggest fund managers warn of risks in what were once seen as the safest investments. ()

* The rise in Deloitte's nonaudit revenue spotlights a recent resurgence in consulting and other nonaudit work by the Big Four accounting firms, a decade after conflict-of-interest concerns and corporate scandal sharply limited such work. ()

* Steelmakers, trying to reverse a prolonged decline in prices, have demanded spot-market price increases of up to 15 percent in the U.S. over the last seven weeks, according to letters sent to customers, but are only getting an average rise of around 10 percent, marking a modest recovery for a battered industry. ()

* Fidelity Investments is offering its retail clients access to hedge-fund firms through a mutual fund launched in partnership with Arden Asset Management. ()

* PokerStars is in talks to buy the Atlantic Club casino, a move that could position the company to benefit should New Jersey legalize online gambling. ()

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