PRESS DIGEST - Wall Street Journal - March 11
March 11 |
March 11 (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 Wall Street Journal investigation into asbestos trust claims and court cases of roughly 850,000 people filed since the late 1980s found many apparent anomalies.
* U.S. companies are keeping more of their profits offshore, a Wall Street Journal analysis of 60 big companies found. The moves shielded more than 40 percent of the companies' annual profits from U.S. taxes.
* As Comcast Corp nears completion of its $16.7 billion buyout of General Electric Co's stake in NBCUniversal, it faces a slowdown in what has long been the engine of the business: NBCU's cable channels.
* Figuring that the Federal Reserve won't be able to keep a lid on interest rates forever, large money managers such as BlackRock Inc, TCW Group Inc and Pacific Investment Management Co are getting ready for the day when rates take their first turn higher.
* Two publishing industry groups, the Authors Guild and the Association of American Publishers, are objecting to Amazon.com Inc's request for ownership of new top-level domain names which include ".book," ".author" and ".read" arguing that Amazon's control over such addresses would be a threat to competition.
* February's U.S. employment report was an unambiguously positive set of data, but it remains to be seen whether it signaled the start of a sustained period of healthier job growth.
* Once a booming source of bank profit, Wall Street's commodity trading has been hit hard by tougher new rules and subdued markets. Revenue from trading the likes of oil, metals and soybeans dropped 16 percent last year at J.P. Morgan Chase & Co and 20 percent at Morgan Stanley, according to securities filings.
* Dell Inc's proposed $24.4 billion buyout by its founder has shareholders on edge. And that anxiety is spreading to the computer maker's customers and others as well.
* The technology industry will be paying close attention to Samsung Electronics Co. this week when it lifts the curtains on a new high-end smartphone at an event in New York on Thursday. A lot is riding on the new device as Samsung aims to maintain its lead and boost profits in the increasingly crowded smartphone market.
* Economic indicators in the United States this week could determine whether the dollar's recent strength will prove sustainable. The greenback rose to its highest level against the yen in more than three years on Friday.
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