Nov 9 The following are the top stories in the
Wall Street Journal on Friday. Reuters has not verified these
stories and does not vouch for their accuracy.
* The White House and Republican lawmakers faced pressure to
reach a solution to the looming budget crisis after a
nonpartisan agency detailed Thursday how inaction would push the
U.S. economy back into recession next year, and skittish
investors continued to drive stocks lower. ()
* China is reining in the yuan after weeks of steady
appreciation, a move that could help its big exporters but
undercut its long-standing pledge to give the market greater
sway in the currency's fate. ()
* Online luxury retailer Gilt Groupe Inc quietly launched a
search for a new chief executive to replace co-founder Kevin
Ryan as its strives to shore up its financial performance to
support a possible initial public offering. ()
* McDonald's Corp on Thursday reported the first
drop in its monthly same-store sales in nine years.
* Bank of New York Mellon Corp has reached an
agreement with the state of Virginia to resolve accusations the
bank charged hidden markups on currency transactions to
Virginia's employee pension fund, in a deal that will also
involve a $1.1 million payment to a whistleblower group,
according to a person familiar with the negotiations.