PRESS DIGEST - Wall Street Journal - June 6
June 6 (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.
* Bank of America is in talks to pay at least $12 billion to settle probes by the Justice Department and a number of states into the bank's alleged handling of shoddy mortgages. (r.reuters.com/rap89v)
* General Motors Co CEO Mary Barra vowed to upend the corporate culture responsible for what she denounced as a "pattern of incompetence and neglect" in the auto maker's failure to recall cars equipped with a defective ignition switch. (r.reuters.com/buq89v)
* Oil-sands and other Canadian crude-oil producers, who have long exported mainly to the United States, would like to diversify their markets but are stymied by poor access to ocean ports. (r.reuters.com/cuq89v)
* SEC Chair Mary Jo White unveiled a sweeping set of initiatives to address mounting concerns about the impact of computer-driven trading on the stock market. (r.reuters.com/fuq89v)
* Credit unions are loosening lending standards and piling into longer-term assets, exposing the firms to potentially significant losses if interest rates rise and worrying regulators. (r.reuters.com/huq89v)
* Shareholders at four companies - Valero Energy Corp , Gannett Co, Boston Properties Inc and Dean Foods Co, have voted in recent weeks to prevent executives from cashing in on certain stock bonuses if their companies are sold, the latest sign that investors are pushing back on the generous pay packages in the event of a merger or sale. (r.reuters.com/juq89v) (Compiled by Supriya Kurane in Bangalore)