PRESS DIGEST - Wall Street Journal - Feb 6
Feb 6 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
* A slowly improving U.S. economy and recently enacted tax increases will help bring down the federal deficit for the next few years, the Congressional Budget Office said Tuesday, but it will take another $2 trillion in belt-tightening over the next decade to begin to move the federal debt closer to historic levels.
* The U.S. government wants Standard & Poor's Ratings Services to pay more than $5 billion - roughly what its parent company has earned in the past seven years - for giving its seal of approval to bundles of subprime mortgages that eventually crumbled, costing investors billions and helping sink the economy.
* Nasdaq OMX Group's missteps during last year's debut of Facebook Inc shares cost Wall Street an estimated $500 million. In the end, U.S. securities regulators may end up fining the exchange group 1 percent of that.
* Pinterest is in talks to raise a new round of financing that would value the online scrapbooking site at $2 billion to $2.5 billion.
* Regulators leading the world-wide probe into rate-rigging allegations are expected to announce Wednesday a settlement of around 400 million pounds ($626.72 million) with Royal Bank of Scotland, according to people close to the investigation.
* John Malone's international cable business Liberty Global Inc has agreed to acquire U.K. cable-television and Internet provider Virgin Media Inc for $16 billion, in a deal that may create a stronger rival to market leader British Sky Broadcasting Group Plc.
* Walt Disney Co's net income weakened in the latest quarter, even as revenue grew, reflecting slimmer profits at the movie studio, where home-video titles were less lucrative than those released in the final months of 2011.
* Chipotle Mexican Grill Inc and Panera Bread Co have posted solid results even as traditional fast-food chains like McDonald's Corp and Yum Brands Inc are struggling with waning consumer confidence.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Putin critic Khodorkovsky in Germany after pardon |
- Target probe eyes overseas hackers; stolen cards for sale online
- Pizza outlet attacked as India, U.S. fail to cool diplomat row |
- New York Mayor-elect's reputation for lateness parodied on Twitter