PRESS DIGEST - Wall Street Journal - July 26

July 26 Fri Jul 26, 2013 12:57am EDT

Related Topics

July 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.

* A Justice Department investigation shines a light on federal authorities' broader scrutiny of physician-owned distributorships. Distributorships act as intermediaries between medical-device makers and hospitals and get a cut of each sale. When surgeons own the distributorship, that commission goes into their pockets. And since surgeons often dictate to their hospitals which devices to buy, they can effectively steer business to themselves. ()

* The Obama administration will use a new legal strategy to try to scrutinize states for possible discrimination against minority voters, Attorney General Eric Holder said. ()

* Halliburton Co will plead guilty to destroying evidence in the wake of the April 2010 Deepwater Horizon disaster. The government said Thursday that the company, a contractor involved in drilling the oil well that exploded in the Gulf of Mexico, destroyed computer simulations it performed in the months after the accident. ()

* More than a dozen companies were the target of what prosecutors described as one of the largest data breaches uncovered to date, which resulted in "hundreds of millions of dollars" in losses. ()

* GlaxoSmithKline has named a new head of its business in China amid a government bribery probe that has shaken the company's senior management. ()

* With its new 24-hour sports cable network launching August 17, Fox hopes to mount a serious offensive on ESPN's moneymaking machine. It is a challenge where others so far have failed. ()

* Zynga provided little assurance that its business was on the mend as the online game company posted a small loss on a 31 percent drop in revenue. ()

* Canadian Natural Resources Ltd, Canada's largest independent oil producer, has been unable to stop a series of leaks from underground wells, according to regulators in Alberta, raising questions about a technology the industry has championed as less environmentally disruptive than the open-pit mining of oil sands. ()

* Samsung Electronics Co Ltd said its profit rose 50 percent on solid smartphone sales, but earnings momentum showed signs of slowing with margins squeezed by high marketing costs. ()

* Prosecutors are seeking forfeiture of about $10 billion from SAC Capital Advisors, one of the country's largest hedge-fund firms, as they accused the hedge-fund firm of insider trading on an unprecedented scale. ()

* Time Warner Cable Inc named chief operating officer Rob Marcus to succeed Glenn Britt as chief executive, resolving a question hanging over the No. 2 U.S. cable operator as it comes under takeover pressure. ()

* The pending $4.7 billion sale of Smithfield Foods Inc , the world's largest pork producer, to a Chinese company, has provoked health safety questions about the impact on America's supply of the heart-disease drug heparin. In addition to pork products, Smithfield is one of the largest U.S.-based suppliers of crude heparin, the starting material for a crucial blood thinner used by some 12 million American patients. ()

* The world will use far more of every type of energy in coming decades, the U.S. Energy Department said in a report that predicts China and India will drive growing consumption. ()

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.