PRESS DIGEST - Wall Street Journal - April 11
April 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.
* Luxembourg has shifted its banking policy, saying it would exchange information with the rest of the European Union about EU holders of bank accounts in the country, another step in Europe's crackdown on tax evasion. ()
* The European Union proposed an expansion of the bloc's powers to protect companies in Europe against unfair competition from abroad, a sign of an increasingly combative stance seen aimed at checking China's rising export power. ()
* Some of the biggest banks and investment firms on Wall Street were among those that received minutes of the Federal Reserve's latest policy meeting 19 hours before the market-sensitive document was released. ()
* JPMorgan Chase & Co's Chief Executive James Dimon, renewed his apologies to shareholders for last year's multibillion-dollar trading fiasco, and an investor that has pushed for corporate-governance changes at large financial firms said it would focus this proxy season on changing the bank's board. ()
* U.S. President Barack Obama took a political gamble Wednesday by proposing to curb the growth of Social Security and Medicare, hopeful that the concessions would draw rank-and-file Senate Republicans into a budget deal that has so far proven elusive. ()
* Changes in Cyprus's bailout made last month to win approval from its parliament increased the rescue's price tag to 23 billion euros ($30.1 billion) through the end of 2016 from an originally estimated 17 billion euros, according to draft documents prepared by the European Commission and the European Central Bank and reviewed by The Wall Street Journal. ()
* Deutsche Telekom AG sweetened its offer for U.S. wireless carrier MetroPCS Communications Inc, hoping to save a merger that shareholders had threatened to reject. ()
* Microsoft Corp is developing a new lineup of its Surface tablets, including a 7-inch version expected to go into mass production later this year, said people familiar with the company's plans. ()
* Federal law-enforcement authorities have reversed course and revived an insider-trading probe into how media companies transmit government data to investors, according to people familiar with the matter. ()
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- U.S. aircraft hit by gunfire in South Sudan as conflict worsens
- Four men arrested in deadly N.J. shopping mall carjacking
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