PRESS DIGEST - Wall Street Journal - July 24
July 24 (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.
* Federal prosecutors are preparing to announce criminal charges as early as this week against SAC Capital Advisors LP, the hedge fund giant that has been the target of a multiyear investigation into alleged insider trading, according to people familiar with the matter. ()
* Apple Inc proved Tuesday there is still demand for its venerable iPhone in the face of stiff competition, though it is running into trouble convincing consumers to buy its other gadgets. ()
* Egg producer Cal-Maine Foods Inc agreed to pay $28 million to settle claims in a series of antitrust lawsuits that alleged it and other producers agreed to curtail egg supplies to inflate prices. ()
* The Federal Communications Commission has proposed to include a slice of spectrum now controlled by the military in its first significant auction of airwaves in half a decade. ()
* Miners are taking a pickax to their exploration budgets, cutting spending to find new resources. But if demand picks up - as it usually has - miners may find themselves scrambling to boost production to catch up. ()
* Juniper Networks Inc said Chief Executive Kevin Johnson will retire as the network-gear company also reported its second-quarter profit surged 70 percent on higher revenue. ()
* An oil-production boom is delivering prosperity to pockets of the United States, but in West Texas, the epicenter of activity, it is also bringing trouble in the form of surging electricity prices. ()
* China's economy showed fresh signs of weakness in July as an initial gauge of manufacturing activity slumped to an 11-month low, leading economists to make comparisons to conditions seen shortly after the global financial crisis of 2008 and 2009. ()
* French banks are making a comeback in the aircraft-finance market, thanks partly to a technique that gained notoriety during the financial crisis: securitization. ()
* KPN agreed to sell its E-Plus business in Germany to a unit of Telefónica in a $10.7 billion deal that would create Germany's largest mobile phone operator. ()
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.