July 21 The following were the top stories in
The Wall Street Journal on Thursday. Reuters has not verified
these stories and does not vouch for their accuracy.
* From closing lackluster branches to moving employees to
cheaper cities, U.S. banks and securities firms are intensifying
efforts to cut costs as the sluggish economy, weak loan demand
and new regulations eat into profits.
* Amid recent multibillion dollar debuts by professional
networking site LinkedIn Corp and even bigger offerings
expected from videogame maker Zynga Inc and social network
Facebook Inc, real-estate site Zillow Inc on Wednesday
went public and instantly tripled its value.
* Citadel LLC, a hedge-fund giant still clawing its way back
from losses during the 2008-09 financial crisis, pushed E*Trade
Financial Corp to explore a possible sale of the
* AT&T Inc's proposed $39 billion acquisition of
Deutsche Telekom AG's (DTEGn.DE) T-Mobile USA ran into headwinds
Wednesday as the Federal Communications Commission extended its
review of the deal, and a top Senate Democrat on antitrust
matters called for the government to block it.
* Sandwich chain Quiznos made its name selling hot subs at
premium prices, but a leveraged buyout at the top of the market
and the recession helped turn that strategy to toast. Now the
company finds itself on the brink of default, also thanks to
sour relations with franchise owners, costly rents and
stepped-up competition from rivals like Subway.
(Compiled by Swetha Gopinath; Bangalore Equities Newsdesk +91
80 4135 5800 within U.S. +1 646 223 8780)