PRESS DIGEST - Wall Street Journal - June 26

June 26 Wed Jun 26, 2013 12:18am EDT

June 26 (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 Supreme Court nullified a core provision of the Voting Rights Act in an ideologically divided ruling that eroded a landmark of the civil-rights era and threw the issue into the lap of a gridlocked Congress. ()

* A far reaching plan to fight climate change detailed by President Obama would profoundly reshape the way the U.S. produces and consumes electricity. ()

* The Federal Reserve chairman's news conference a week ago was widely seen as a signal that the Fed is preparing to wean the economy off easy money. But the markets have misread Ben Bernanke. ()

* The selloff in China's stock market abated on Tuesday, but a key issue for investors remains: The country's financial system puts state-owned companies ahead of private businesses. ()

* State regulators are warning virtual-currency exchanges and other companies that deal with digital currency Bitcoin, that they could be shut down if their activities run afoul of state money-transmission laws. ()

* Bond king Bill Gross and his protégé Mark Kiesel are among the hardest hit from bonds' recent declines, a sign that the selloff has caught some of the most trusted hands in the investing community. ()

* German government bonds, known as Bunds, have weathered the global credit-market selloff better than their major euro zone peers. Belgium, France and the Netherlands are underperforming notably, a sign that Europe remains vulnerable. ()

* U.S. officials are investigating whether hedge fund titan Steven Cohen purposely avoided learning about alleged criminal activity at his firm SAC Capital Advisors and, if so, whether that behavior could form an element of any charges against him, according to people familiar with the matter. ()

* U.S. efforts to rein in "too big to fail" banks in the wake of the 2008 financial crisis have fallen well short and must be replaced with more aggressive measures to split up or downsize the largest financial firms, a pair of Federal Reserve bank presidents and a top regulatory official will tell lawmakers Wednesday. ()

* A Delaware business court upheld corporate bylaws enacted by Chevron Corp and FedEx Corp that require unhappy shareholders to sue in Delaware in a closely watched case that is likely to have broad impact. ()

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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