PRESS DIGEST - Wall Street Journal - March 18

March 18 Mon Mar 18, 2013 2:55am EDT

Related News

March 18 (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.

* The U.S. Justice Department trustee overseeing the bankruptcy case of American Airlines parent AMR Corp on Friday filed court papers objecting to certain employee wage increases, as well as a proposed $19.9 million exit package for AMR's chief executive, which are part of AMR and US Airways Group Inc's merger plan.

* The Philippines this weekend launched its bid to become Asia's third gambling hub with the opening of the Solaire, a $1.2 billion casino. Asia is battling the United States for supremacy in the global gambling market.

* U.S. regulators are investigating whether high-frequency traders are routinely distorting stock and futures markets by illegally acting as buyer and seller in the same transactions, according to people familiar with the probes.

* The Pentagon overrode a politically charged protest from Kansas defense contractor Beechcraft Corp and will work with Sierra Nevada Corp and the defense unit of Brazil's Embraer SA on a $427.5 million contract to build 20 planes for the Afghan air force.

* Many workers who were offered a sum of money to spend on healthcare opted for lower-priced plans that required them to pay more out of their pockets for healthcare.

* Verizon Communications is proposing to shake up the pay-television business based on a simple premise: it wants to tie the fees it pays to carry TV channels to how many people actually watch them.

* Directors of Transocean Ltd are urging shareholders to reject a campaign by activist investor Carl Icahn to increase the offshore-oil-rig company's dividend and name three new members to the board.

* Toronto-based generic-drug maker Apotex Inc has added an extra dose of tension to a drug-industry case involving patent settlements between brand-name companies and generic rivals to delay the potential introduction of copycat pills.

* Booming coffee demand in India is prompting companies like Lavazza SpA, Nestlé SA and Starbucks Corp to set up shop in the traditionally tea-drinking subcontinent, offering growth when returns are harder to come by in more developed markets. Rising consumption in India also is likely to pressure coffee prices.

* The Securities and Exchange Commission is filing significantly fewer civil fraud cases this year, as its efforts to punish misconduct related to the financial crisis start to ebb.

* Volkswagen AG's China unit said it would voluntarily recall cars suspected of having substandard direct-shift gearbox systems, following scrutiny from China's national state-run television broadcaster and after receiving a notification from China's quality watchdog.

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see
Comments (1)
JuliaPetrova wrote:
This and other topics that are relevant for speed traders and institutional investors will be discussed at High-Frequency Trading Leaders Forum 2013 London, next Thursday March 21.

Mar 18, 2013 1:25pm EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.