PRESS DIGEST - Wall Street Journal - June 17
June 17 (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 United States and Europe plan to push for nuclear talks with Iran following the surprise victory of centrist Hassan Rohani in presidential elections.
* Airbus is on track to more than double its profit margin by 2015 through greater efficiency and restructured management, said Chief Executive Fabrice Bregier.
* Large banks are pushing back against regulators' plans to toughen rules on short-term, high-interest consumer loans.
* Starboard Value LP, a large activist investor in Smithfield Foods Inc, is pressuring the company to explore a break-up rather than go ahead with a planned $4.7 billion takeover by Chinese meat producer Shuanghui. ()
* Home-improvement retailer Lowe's Cos Inc agreed to buy Orchard Supply Hardware Stores for $205 million, potentially throwing a lifeline to the struggling West Coast hardware-and-garden chain. ()
* Co-op Bank is expected to unveil plans this week to fill a capital hole, estimated at 1.25 billion pounds ($1.96 billion), by imposing losses on bondholders and selling loan portfolios, a person familiar with the plans said. ()
* General Electric Co is expanding its ability to produce ceramic-based parts for its jet-engine business, betting that the risks of using a novel material are outweighed by the expected fuel savings. ()
* Liberty Media Corp Chief Executive Greg Maffei recently met with Time Warner Cable Inc Chief Executive Glenn Britt to discuss the benefits of mergers in the cable sector, said a person familiar with the situation, the latest sign that Liberty is interested in sparking consolidation in the industry. ()
* Congress is gearing up to tackle an issue that Washington has mostly ignored for nearly five years: What to do with Fannie Mae and Freddie Mac, the bailed-out but now-profitable mortgage companies. ()
- Obama condemns killing of reporter, U.S. hits militants in Iraq |
- Gaza war rages on, Hamas says Israel tried to kill its military chief |
- Four beheaded corpses found in Egypt's Sinai: security sources
- Father of Texas 'affluenza' teen arrested for impersonating police officer
- U.S. attorney general visits racially charged St. Louis suburb