PRESS DIGEST - Wall Street Journal - Jan 3
Jan 3 (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.
* The dollar surged in the first trading day of 2014, in anticipation that U.S. economic growth this year will outpace the recovery in Europe and other regions. ()
* The federal government warned that crude oil from the Bakken Shale in North Dakota may be more flammable than other types of crude. ()
* Cox Enterprises Inc, the closely held media conglomerate, has bought back a stake in AutoTrader Group Inc in a deal that implies a value of about $7 billion for the online auto marketplace. ()
* Sales of gold coins are booming even as the metal's price is falling, a testament to gold's continued appeal for small investors and collectors despite its first bear market in more than a decade. ()
* U.S. passenger airlines are bracing for the start of new federal regulations on Saturday that will guarantee their pilots more rest time and restrict the hours they can put in behind the cockpit controls. ()
* When Mathew Martoma's insider-trading trial begins next week, federal prosecutors will arrive armed with what they believe is one of the strongest cases to emerge from their decade-long investigation into SAC Capital Advisors LP. Lawyers from the U.S. attorney's office in Manhattan are expected to call two doctors who will testify that they passed inside tips on pharmaceutical drug tests to Martoma, a former portfolio manager at the large hedge fund. ()
* Mandiant, the consulting firm known for outing Chinese hackers, is being purchased by FireEye Inc, the Silicon Valley company that went public last fall for about $1 billion.
* Martha Stewart Living Omnimedia Inc has settled legal disputes with Macy's Inc and J.C. Penney Co over an ill-fated merchandising agreement, but Macy's and Penney still need to resolve their differences. Stewart found herself embroiled in a legal triangle after her company agreed in late 2011 to make bedding, bath and other products for Penney. Macy's sued both companies, arguing the deal violated a previous agreement it had with the domestic diva to sell similar items exclusively at its stores.()
* The outlook for Cape Wind, a U.S. offshore wind farm project, brightened a bit as its main public investor, Pension Danmark, said it would keep its financial commitment to the project even though a key year-end deadline was missed.()
- Investigators look for motive in Malaysia plane disappearance |
- Police make third arrest in murder of Colorado socialite
- Malaysian PM says lost airliner was diverted deliberately |
- Indian Ocean poses daunting challenge in search for missing Malaysia plane
- Malaysia PM says lost plane's movements indicate a deliberate act