PRESS DIGEST- Wall Street Journal - Feb 21

Fri Feb 21, 2014 1:24am EST

Feb 21 (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.

* President Obama's 2015 budget proposal will abandon overtures to Republicans and call for a large expansion in spending on education and job training, in a push certain to ratchet up tensions in the already-fractured capital ahead of November's elections.()

* Citigroup Inc and Deutsche Bank AG are taking losses on a complex program to hedge price risks for Mexico's state oil monopoly. both suffered losses on the trade at one point in the past three months, with Deutsche Bank's totaling about $5 million, according to people familiar with contracts the banks struck late last year with PetrĂ³leos Mexicanos SA, or Pemex.()

* A decision is expected soon on key claims in a lawsuit that could force the powerful National Collegiate Athletic Association to share billions of dollars in revenues with student-athletes whose images it uses in merchandise such as videogames, a federal judge said Thursday. ()

* Energy Future Holdings Corp, previously called TXU Corp, is lining up loans to keep two subsidiaries operating during bankruptcy proceedings after months of talks have failed to produce an agreement with creditors on reworking its $40 billion-plus in debt, according to people familiar with the matter. ()

* The Federal Reserve's move to impose tough capital rules on foreign banks in the U.S. could complicate global coordination on another postcrisis priority: international agreement on a plan that eliminates the chance any bank is too big to fail. ()

* A JPMorgan Chase & Co shareholder has pulled a proposal calling for the largest U.S. bank to split the chairman and chief executive posts held since 2006 by James Dimon. ()

* Berkshire Hathaway Inc's Business Wire has decided to stop giving high-speed traders direct access to corporate earnings and other market-moving news releases after consultations with Berkshire chief Warren Buffett and the New York attorney general's office. ()

* Family-owned Russell Stover Candies Inc, the third-largest candy producer in the U.S., is on the auction block, according to people familiar with the matter. Goldman Sachs Group Inc is in the early stages of shopping the company, which could sell for more than $1 billion, one of the people said. ()

* Shares of Facebook Inc rose Thursday as the potential benefits seen from the company's deal to purchase messaging company WhatsApp outweighed the hefty $19 billion price tag. ()

* Noble Energy Inc has hired merger-advisory firm Lazard Ltd to sell its majority stake in an oil field it owns with Sinopec just off northeastern China, people familiar with the matter said, the latest in a string of asset sales in the region. ()

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.