PRESS DIGEST - Wall Street Journal - Nov 25
Nov 25 (Reuters) - The following were the top stories in The Wall Street Journal on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
* The government rescue of Citigroup Inc (C.N) reversed the perilous slide of the company's stock, but pressure is mounting on its executives and directors to do even more to stabilize the financial giant.
* Treasury Secretary Henry Paulson, seeking to ease strains in the consumer credit market, plans to announce Tuesday the formation of a program to increase the availability of auto loans, student loans and credit cards, according to people familiar with the matter.
* The government's rescue of Citigroup Inc (C.N) drove a second straight day of big gains in stocks on Monday, but traders warned that financial markets' recent streak of trouble is far from over.
* The construction industry, beset by one of the biggest drops in employment in the current economic downturn, could be poised for a rebound under President-elect Barack Obama's expected stimulus package.
* Houghton Mifflin Harcourt, one of the country's oldest and most prestigious publishers, said it will stop acquiring new books until further notice, an unusual move that shows how the slowdown in book sales is hurting publishing.
* Chrysler LLC employees are bracing this week for results of a buyout offer aimed at removing about 5,000 salaried workers from the ailing auto maker's payroll by year end.
* New Jersey's pension fund, already in the spotlight thanks to losing investments this year in large banks, is under fire again, this time over a series of controversial hedge-fund investments that initially swept below the public radar.
* Genentech Inc DNA.N said a major study found Avastin delayed progression of breast cancer when combined with commonly used chemotherapies, strengthening the case for the blockbuster drug's use as first-line treatment in patients with advanced disease.
* Starbucks Corp (SBUX.O) said Monday that it doesn't expect sales to rebound during the next year, in a sign that consumers' spending on pricey goods could take a long time to recover.
* InterDigital Inc (IDCC.O) and Samsung Electronics (005930.KS) settled a pair of long-running patent-infringement lawsuits Monday, on the eve of a U.S. International Trade Commission decision on whether to recommend banning imports of Samsung's high-speed cellphones.
* Sales of existing homes in the U.S. fell in October as the faltering economy kept buyers on the sidelines even as prices dropped by the most since records began.
