PRESS DIGEST - Wall Street Journal - Dec 5
Dec 5 (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.
* Americans with chronic illnesses - who are expected to be among the biggest beneficiaries of the health law - face widely varying out-of-pocket drug costs that could be obscured on the new insurance exchanges. ()
* Vice President Joe Biden told Chinese President Xi Jinping that Washington didn't recognize a Chinese air-defense zone over the East China Sea and was looking to Beijing to reduce regional tensions. ()
* China Mobile signed a long-awaited deal with Apple to offer iPhones on its network, an arrangement that would give the U.S. technology giant a big boost in the world's largest mobile market. ()
* In a defeat for Wall Street, the "Volcker rule" won't allow banks to enter trades designed to protect against losses held in a broad portfolio of assets. ()
* Vikram Pandit, former CEO of Citigroup, is helping to fund an upstart in the peer-to-peer lending industry, joining a growing movement trying to disrupt the traditional banking model. ()
* Six financial institutions were fined $2.32 billion by European regulators for colluding to try to manipulate key interest rates. ()
* General Motors is severing its ownership ties with lender and former subsidiary Ally Financial by selling its remaining stake in a private placement worth about $900 million.
* AT&T Inc is considering a bid for a block of spectrum licenses held by Verizon Wireless, setting up a potential contest for the airwaves with smaller rival T-Mobile US Inc people familiar with the matter said. ()
* Qantas Airways Ltd forecast a steep first-half loss, potential asset sales and deep spending cuts that will include the axing of another 1,000 jobs, as it warned of immense challenges in the aviation sector. ()
- Malaysia air probe finds scant evidence of attack: sources |
- Search widened as Malaysia air probe finds scant evidence of attack |
- Confrontation in Ukraine as diplomacy stalls |
- Exclusive: Chinese raw materials also found on U.S. B-1 bomber, F-16 jets
- Freescale loss in Malaysia tragedy leads to travel policy questions