PRESS DIGEST - Wall Street Journal - May 21
May 21 (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.
* JPMorgan Chase & Co is preparing for a shake up of its board even if every director wins re-election at Tuesday's shareholder meeting and James Dimon keeps his dual job as chairman and chief executive. ()
* Even in the fast growing realms of the consumer Internet, some businesses are best served by old fashioned consolidation. GrubHub and Seamless, two nationwide startups used for ordering restaurant takeout by smartphone and computer, said they would merge. GrubHub Chief Executive Matt Maloney, who will lead the combined company, declined to discuss valuation. ()
* Here is a glimpse at the future of finance. When Deutsche Bank AG set out to win a role on Apple Inc's $17 billion bond, it eschewed Wall Street's traditional tactics. Instead of flying well-groomed bankers to Cupertino, California, to charm Apple's top executives with powerpoint presentations, Deutsche relied on iTunes. The German bank has handled the back office work for Apple's online store in recent years, according to people familiar with the situation. ()
* Aware that it needs China's sweet tooth, Hershey Co is rolling out a Chinese brand designed for the world's fastest growing candy market. In a first launch beyond the U.S. market, Hershey is unveiling on Tuesday a candy known in English as the Lancaster and in Chinese as Yo-man. Hershey will officially open its Shanghai-based Asia Innovation Center on Wednesday. It will be company's second-largest research and development center world-wide. ()
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