PRESS DIGEST- Wall Street Journal - Aug 22

Fri Aug 22, 2014 12:57am EDT

Aug 22 (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 Obama administration's decision to release secret details of an unsuccessful mission in Syria last month to rescue several Americans held captive by extremists is raising concerns that the disclosure could make it harder for the military to carry out similar operations in the future. (on.wsj.com/1ohyaI6)

* The beheading of journalist James Foley has prompted American officials to begin working to knit together a broader international campaign to combat the extremists of the Islamic State, an effort that the Pentagon, headquarters of the U.S. Department of Defence, warned that it will require taking the fight beyond Iraq and into neighboring Syria. (on.wsj.com/1qvryY6)

* The police response to the unrest in Ferguson, Missouri, has been criticized for a lack of coordination, but experts say the fast-moving situation was difficult to manage. (on.wsj.com/1ohyp65)

* U.S. Federal prosecutors are scrutinizing whether employees inside and outside General Motors Co's legal department concealed evidence from regulators about a faulty ignition switch, potentially delaying a recall of vehicles with the fatal problem, according to people familiar with the matter. (on.wsj.com/1msf02C)

* Central bankers gathering for the Jackson Hole conference in Wyoming confront a global economy that has once again disappointed, leaving them reluctant in some places and unable in others to turn off spigots of easy money. (on.wsj.com/1q3xeLG)

* U.S. corporate-bond issuance is hurtling toward a record for the third consecutive year, as companies take advantage of a surprising interest-rate decline to stock up on cash. (on.wsj.com/1pPeC33)

* The Obama administration moved to restrict prescriptions of the most commonly used narcotic painkillers, with the Drug Enforcement Administration saying it would put hydrocodone combination drugs in the category reserved for medical substances with the highest potential for harm. (on.wsj.com/1rpaqKa)

* Sears Holdings Corp burned through more cash as its losses mounted in the second quarter, prompting the once venerable retailer to say it is weighing additional steps to shore up its balance sheet. (on.wsj.com/1v1cAjA)

* Citigroup Inc faces restrictions that will prevent it from selling investments in hedge funds and private-equity funds to wealthy clients, following a recent deal with U.S. regulators. (on.wsj.com/YGmsBR)

* Bank of America Corp's financial-crisis hangover may finally be fading. The bank agreed to pay $16.65 billion to settle the U.S. government's accusations it sold flawed mortgage securities in the run up to the 2008 crisis, the largest settlement ever reached between the United States and a single company. (on.wsj.com/1ljwCCS)

* Royal Bank of Canada is facing a conundrum about one of its fastest-growing businesses. The bank's capital-markets business, after fighting for years to become a global player, threatens to become a victim of its own success. Earnings from capital markets are bumping up against a self-imposed limit that is key to the risk control on which Canada's banks built their recent reputation. (on.wsj.com/1p15raD)

* Family Dollar Stores Inc rejected Dollar General Corp's $9 billion cash offer, opting instead to stick with Dollar Tree Inc's $8.5 billion cash-and-stock deal that is worth less money but may have an easier time passing muster with antitrust regulators. (on.wsj.com/1qvfOou)

* Jumpy commodities markets are taking hedge funds for a wild ride. A spate of unpredictable U.S. weather, a surprise record harvest and even a pig virus are giving commodities traders exactly what they craved: volatility. Unlike in years past, when star managers scored megapaydays in high-profile markets such as oil and gold, some of the biggest winners in recent months are in commodities like corn, soybeans, natural gas and electricity. (on.wsj.com/1sYz1VO)

* Home Depot Inc named company veteran Craig Menear its new chief executive on Thursday, handing him the challenge of keeping sales growing as the company shifts from building new U.S. stores to investing online. (on.wsj.com/1pPiaSZ)

* Al Gore and his business partners had "serious reservations" about selling Current TV to Al Jazeera, but ultimately overcame them because they believed the United States was likely to influence the Qatar-backed broadcaster more than the other way around, according to court papers filed on Thursday. (on.wsj.com/1tqIVxo)

* Dipchand Nishar, a LinkedIn Corp senior vice president who helped the professional social network expand internationally and on mobile devices, is resigning to pursue a chief executive post. (on.wsj.com/1z9syFU)

* Russian authorities stepped up their pressure on McDonald's Corp, saying they were inspecting restaurants across the country for alleged sanitary violations, a day after officials closed several outlets in Moscow. (on.wsj.com/XE8mAI) (Compiled by Rama Venkat Raman in Bangalore)

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