PRESS DIGEST - Wall Street Journal - April 11
April 11 (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 fallout from General Motors Co's troubled recalls escalated on Thursday with the auto maker raising its estimated costs to $1.3 billion and suspending two engineers involved in fateful early decisions.(r.reuters.com/vyr48v)
* PG&E Corp will offer a $250,000 reward for information resulting in the arrest and conviction of people who attacked its Metcalf transmission substation near San Jose, California, last year.(r.reuters.com/wyr48v)
* China's tougher stance on imports of genetically modified corn is roiling U.S. agribusiness, largely halting trade in the biggest U.S. crop in its fastest growing market. By one industry estimate, exports are down by 85 percent compared with last year. (r.reuters.com/xyr48v)
* After a decade-long probe into SAC Capital Advisors LP, federal prosecutors won approval of a $1.8 billion settlement with the hedge fund but appear to have all but given up efforts to charge its billionaire founder, Steven A. Cohen. (r.reuters.com/zyr48v)
* The Justice Department is investigating whether a Citigroup Inc unit in California failed to alert the government to suspicious banking transactions along the U.S.-Mexico border that in some cases involved suspected drug-cartel members, said people familiar with the probe. (r.reuters.com/das48v)
* Regulators have stepped up their scrutiny of the booming bond markets, launching an inquiry into Wall Street banks' trading profits and expanding a probe into how new offerings are doled out to investors, according to officials. (r.reuters.com/jur48v)
* Market-sensitive information vitally important to health-insurance companies has once again reached Wall Street before the public, and this time it appears to have come from the government itself. (r.reuters.com/mas48v)
* A group of investors with Hollywood ties is seeking to revive bankrupt bitcoin-trading exchange Mt. Gox, according to people familiar with the matter. The investor group, which includes Brock Pierce, a former child actor-turned technology entrepreneur, is offering a token payment of one bitcoin, or about $400, to buy the exchange outright, according to these people. (r.reuters.com/qas48v) (Compiled by Arnab Sen in Bangalore)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Doctor with Ebola in Manhattan hospital after return from Guinea |
- Exclusive: Charred tanks in Ukraine point to Russian involvement
- Ground offensive against Islamic State months away in Iraq: U.S.
- Stress tests, Ebola cool global stocks after best week of year