PRESS DIGEST - Wall Street Journal - Oct 9
Oct 9 (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.
* Budget battles could draw out the process of confirming Janet Yellen as chairwoman of the Federal Reserve and provide a new venue to debate the effectiveness and duration of the central bank's bond-buying program. ()
* President Obama warned of "economic chaos" if a political stalemate causes the U.S. to no longer be able to pay its bills, and said he would accept even a short-term increase in the borrowing limit to give lawmakers time to negotiate. ()
* From Treasury yields to the volatility "fear gauge", market metrics indicate worry as the government deadlock drags. ()
* JPMorgan is looking to scale back lending to pawn shops, payday lenders, check cashers and certain car dealerships as it seeks to tighten controls in a period of heightened regulatory scrutiny. ()
* U.S. refiners are selling more fuel abroad than ever before, effectively exporting the American energy boom around the world. ()
* Sears Holdings has been selling off some of its best stores to raise cash, an unusual strategy that makes it harder for the struggling chain to improve its sales even as it helps shore up its financial position. ()
* Efforts by creditors of Energy Future Holdings Corp to reach a wide-ranging deal to address the Texas power company's massive debt load suffered a setback earlier this week when separate groups of lenders and bondholders gave a tepid response to a proposal from another large creditor, the giant mutual-fund firm Fidelity Investments, according to people familiar with the matter. ()
* Jos. A. Bank has approached Men's Wearhouse about a combination of the two companies, a proposed deal that would create a nationwide powerhouse in men's apparel. ()
* U.S. drug distributor McKesson Corp is in advanced negotiations with the majority shareholder of Celesio AG to buy the German rival for more than 3.74 billion euros ($5.08 billion), according to people familiar with the matter. ()
- White House reverses, says Obama met uncle and lived with him during law school
- With song and sadness, South Africans mourn Mandela |
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Ford leans on global Mustang to burnish overseas image