PRESS DIGEST-Wall Street Journal - Aug 22
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 U.S. investigation into Microsoft Corp's relationships with business partners that allegedly bribed foreign officials in return for contracts includes activity in Russia and Pakistan, a sign that the probe is wider reaching than previously known, according to people familiar with the matter. ()
* Alibaba Group Holding Ltd founder and Chairman Jack Ma will take a seat on the board of the operator of China's most popular third-party smartphone Web browser, the most recent attempt by the e-commerce company to appeal to China's growing number of smartphone users. ()
* The arrest by Chinese authorities of two private corporate investigators could indicate the latest effort by authorities to limit public access to sensitive private records. Briton Peter Humphrey and his American wife and business partner, Yu Yingzeng, were arrested in recent days, according to a family statement. They run investigations firm ChinaWhys Co and were detained six weeks ago in Shanghai on suspicion of purchasing private-identification information, the family said. ()
* Facebook Inc Chief Executive Mark Zuckerberg said the company is teaming up with six others to help bring Internet access to more than four billion people who still don't have it. The group, called internet.org, will attempt to aid emerging economies by making Web access more affordable, use data more efficiently and help business drive access to more users. ()
* Whole Foods Market Inc wants to shed its "whole paycheck" reputation. The upscale grocer, known for its pricey organic products, is increasingly emulating the discount tactics used by traditional supermarkets. It is also moving beyond the realm of grass-fed beef with more lower-priced items like frozen meatballs and vacuum-packed fish fillets. ()
* Short sellers are facing their worst losses in at least a decade, a Wall Street Journal analysis has found, as many of the rising stocks they bet against have only continued to soar. That has stung several high-profile hedge-fund managers, including William Ackman and David Einhorn, who have placed prominent short bets. ()