April 25 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.
* Supreme Court justices challenged the Obama
administration's assertions that Arizona exceeded its powers by
directing police officers to check the immigration status of
people they stop.
* Federal Reserve officials reaffirmed their plan to keep
short-term interest rates near zero until late 2014 to support
economic growth, but hints emerged of policy makers' diverging
views about how the central bank might proceed.
* News Corp Chairman and Chief Executive Rupert
Murdoch on Wednesday faced a recitation of criticisms that have
piled up at his door during a long career, including allegations
that he uses his company's newspapers to collect political
favors and push his commercial interests.
* The Securities and Exchange Commission faced fresh
questions about its efforts to attract whistleblowers who might
help regulators uncover wrongdoing on Wall Street, following
revelations that the agency unwittingly revealed a tipster's
identity during a probe.
* Two bundles of bonds that once helped sicken American
International Group Inc now have Wall Street salivating.
Some of the biggest banks are teaming up to jockey for the
securities, which may be sold in coming days by the Federal
Reserve Bank of New York. The banks would then sell the bonds
off to clients such as money managers, hedge funds and insurance
* Groupon Inc Chief Executive Andrew Mason told the
company's employees on Wednesday that the daily-deals site needs
to grow up - right after he apologized for drinking too much
* Bank of America Corp and UBS AG are
battling for star bankers and wrestling with major defections in
a high-stakes fight that threatens to cost them clients at a
time when both institutions are retooling their
The latest strike came Wednesday as Bank of America said it
hired Alex Wilmot-Sitwell, a veteran banker at UBS who will lead
Bank of America Merrill Lynch's businesses across Europe and
emerging markets excluding Asia.