PRESS DIGEST - Wall Street Journal - Aug 18

Mon Aug 18, 2014 1:03am EDT

Aug 18 (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.

* U.S. jets, drones and bombers pounded Sunni insurgent positions on Sunday to ease the siege of the strategically vital Mosul Dam, as Washington and its Kurdish allies turned up pressure on the radical group Islamic State. (on.wsj.com/1BrVg8W)

* A march protesting the shooting death of an unarmed 18-year-old black man by a white officer here erupted in chaos Sunday night when police forced back demonstrators in a cloud of smoke. The retreat by marchers set off widespread vandalism and shots were fired, but it wasn't known by whom. Several storefront windows were shattered along West Florissant Avenue, a main thoroughfare in Ferguson. (on.wsj.com/1tdPwLp)

* China denied on Monday that a spate of recent antitrust probes into foreign companies could be responsible for falling levels of investment in the country, after data showed that foreign direct investment in China fell 17 percent in July compared with a year earlier. (on.wsj.com/1uL9EYg)

* Sonic Automotive Inc will open a chain of preowned-vehicle stores hoping to move on the turf of used-car retailer CarMax Inc. Sonic on Monday will announce the creation of EchoPark stores, with the first dealership opening in Denver, a few miles from a CarMax store. (on.wsj.com/VycKzu)

* Across the United States, small-business lending has been stuck in a slow, grinding recovery behind most other types of business and consumer loans. At the end of the first quarter, banks held $585 billion in loans to small businesses, up 1 percent from last September but still 18 percent less than the peak of $711 billion in 2008, according to the Federal Deposit Insurance Corp. (on.wsj.com/1o3T7pP)

* Many economists fear the U.S. Federal Reserve will wait too long before raising interest rates, but officials believe markets and economic indicators are not signaling an economy near overheating. (on.wsj.com/1oIeiDV)

* Institutions are taking advantage of a recent slide in high-yield bonds' price triggered by small investors' selling-figuring the bonds are still a good bet as the economy expands. (on.wsj.com/1kN0g2Q)

* Former SAC Capital Advisors LP executive Solomon Kumin has secured a $400 million investment from Leucadia National Corp for his startup hedge-fund firm, according to people familiar with the recent developments. (on.wsj.com/1mab1Yy)

* Credit Suisse Group AG helped sell billions of dollars of securities that ultimately played a role in toppling Portugal's second-largest bank. The Swiss bank was responsible for putting together securities that were issued by offshore investment vehicles and then sold to retail customers of Portugal's Banco Espirito Santo SA. (on.wsj.com/1rhvsKC)

* As the Federal Communications Commission reviews Comcast Corp's proposed acquisition of Time Warner Cable Inc one issue it has to decide is whether to allow Comcast to continue TWC's long-standing arrangement to handle programming and technology acquisitions for the sixth-biggest cable operator, Bright House Networks. (on.wsj.com/1uL8n3i)

* PricewaterhouseCoopers will pay $25 million and be banned for two years from some consulting work to settle New York state regulators' allegations that the accounting firm mishandled its work for Bank of Tokyo-Mitsubishi UFJ. The New York State Department of Financial Services alleges that PwC watered down an anti-money-laundering report it did for the Japanese bank that was submitted to regulators. (on.wsj.com/1mZTaUf)

* The Justice Department on Friday filed additional charges against FedEx Corp, accusing it of conspiracy to launder money, in connection with its prescription-drug case against the package-delivery concern. (on.wsj.com/1vZrico) (Compiled by Rama Venkat Raman in Bangalore)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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