PRESS DIGEST - Wall Street Journal - April 16
April 16 (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.
* Under pressure from unhappy clients and losing market share to rivals, Goldman Sachs Group Inc is trying to jump-start its stock-trading business. At recent trading conferences with top clients, including Fidelity Investments and BlackRock Inc< BLK.N>, and in private conversations, investors have vented their concerns with the way Goldman and other firms trade stocks, people familiar with the matter said. (r.reuters.com/cus58v)
* Credit Suisse Group AG said Wednesday that first-quarter profit fell to 859 million Swiss francs ($976.91 million) from the 1.3 billion Swiss francs ($1.48 billion) it reported for the same period a year earlier as net revenue fell 8 percent to 6.47 billion Swiss francs ($7.36 billion).
* Defunct bitcoin exchange Mt. Gox has given up its plan to rebuild under bankruptcy protection and has asked a Tokyo court to allow it to be liquidated, people familiar with the situation said. (r.reuters.com/nus58v)
* Online food-delivery company Seamless will revamp its fee structure after an investigation by New York state's attorney general found that restaurants could cheat delivery workers out of tips, officials said Tuesday. (r.reuters.com/gus58v)
* The Royal Bank of Canada is planning to close one of the last proprietary-trading desks on Wall Street, another win for regulators that have pushed banks to cut back on making big bets with their own money. (r.reuters.com/hus58v)
* Federal regulators plan to set aside a portion of choice spectrum for smaller wireless carriers at an auction of TV airwaves scheduled for next year. According to people familiar with the matter, the Federal Communications Commission plans to reserve a portion of that spectrum to prevent the two largest wireless carriers from purchasing it all. (r.reuters.com/jus58v)
* Google Inc is planning a "modular" smartphone that consumers can configure with different features, executives said on Tuesday. Google envisions hardware modules, such as a camera or blood-sugar monitor, that would be available in an "app store," like its own Google Play store for software applications. (r.reuters.com/pus58v) ($1 = 0.8793 Swiss Francs) (Compiled by Arnab Sen in Bangalore)