PRESS DIGEST - Wall Street Journal - July 11

July 11 Thu Jul 11, 2013 12:58am EDT

July 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.

* A review of stock trades by corporate insiders before their companies filed for bankruptcy found the trading veering heavily toward selling instead of buying. ()

* Federal Reserve Chairman Ben Bernanke sought to reassure markets that while the Fed could start winding down bond buying later this year, officials aren't abandoning their broader commitment to easy-money policies. ()

* A rise in long-term interest rates is creating challenges and opportunities for the large U.S. banks as they struggle to overcome lackluster loan demand, a weak economy and a slew of new regulations that are crimping profits. ()

* Regulators are slapping brokerage firm Newedge USA with a record $9.5 million fine for failing to adequately police computer-driven trading clients that sought to manipulate markets for nearly four years. ()

* The liquidators of two Bear Stearns hedge funds sued the major credit-rating firms for allegedly misrepresenting the accuracy of their ratings. ()

* Apple Inc colluded with five major U.S. publishers to drive up the prices of e-books, a federal judge ruled Wednesday in a stern rebuke that threatens to limit the technology company's options when negotiating future content deals. ()

* Chinese Premier Li Keqiang repeated his commitment to steer clear of stimulus for the world's second-largest economy, even as the government reported contracting exports. ()

* A shift in consumer tastes to tablets continues to take its toll on the personal computer industry, with China's Lenovo Group Ltd emerging as sales leader in a shrinking market. ()

* Wal-Mart said it was scrapping plans to build three stores in Washington, D.C., after the city council passed a bill that would require big retailers to pay starting wages that are 50 percent higher than the city's minimum wage. ()

* Google is expected to allow its Motorola hardware unit to spend upward of $500 million to market the Moto X phone expected to be sold by the four largest wireless carriers this fall. ()

* Tribune plans to separate its broadcasting and publishing businesses into two companies, the latest U.S. media conglomerate to pursue to pursue a strategy of building focus around its more profitable TV business. ()

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