PRESS DIGEST - Wall Street Journal - Oct 27
Oct 27 (Reuters) - The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.
* The global financial storm rolled across the Persian Gulf on Sunday, as Kuwait's central bank guaranteed bank deposits and cobbled together a hasty bailout for one of the country's largest banks.
* A rash of new job data show the labor market is the worst it has been since the two prior recessions, worrying economists who usually expect the weakest picture at the end of a recession.
* A harsh reality has emerged for General Motors Corp GM.N and Chrysler LLC: Without a merger and possibly an assist from the federal government, two of Detroit's Big Three auto makers could run out of cash within a year.
* The International Monetary Fund unveiled Sunday its second national rescue plan in a matter of days, saying it would offer to lend a larger-than-expected $16.5 billion to Ukraine. The announcement follows Friday's $2.1 billion loan to Iceland and underlines how the IMF, after years in the shadows, has come to the forefront of helping weaker nations hit by the financial crisis.
* As falling gasoline prices squeeze refining profits, there are signs that refiners are ratcheting back production to pare losses.
* Treasury sales of billions of dollars in fresh debt, along with a Fed rate decision, weigh on the short-term bond market this week.
* As defaults on tech financings jump, the specialty lenders that many tech companies rely on are toughening finance terms.
* The latest forecast for a gloomy and highly promotional holiday season comes from retailers themselves.
* After unveiling plans earlier this year to sell espresso drinks at all of its U.S. locations, McDonald's Corp (MCD.N) now faces a fresh set of challenges.
* Silicon Graphics Inc SGIC.O, a computer hardware maker that has gone through tough times, is laying new plans to expand its influence through software.
* Live Nation Inc (LYV.N) has reached a new, more profitable contract for the management of food and beverage sales at 34 of its North American venues, expanding the concert promoter's dealings with a key business partner.
* After several days of talks between European and Asian leaders, China apparently has allied itself with Europe in calling for a vigorous system of international regulation.
