June 13 The following are the top stories in the
Wall Street Journal. Reuters has not verified these stories and
does not vouch for their accuracy.
* Japanese stocks tumbled 6 percent, dropping into bear
territory, as markets across Asia fell amid signs of slowing
global growth and jitters over the possible winding down of U.S.
monetary stimulus. ()
* Indian tire maker Apollo Tyres Ltd agreed to
acquire Cooper Tire & Rubber Co in a deal valued at
about $2.5 billion that is the largest U.S. acquisition by an
Indian company. ()
* In their BMC Software Inc purchase, Bain Capital
LLC, Golden Gate Capital and their co-investors will contribute
only 18 percent from their own cash, the lowest of any buyout
with loans exceeding $500 million since 2008.
* Lululemon Athletica Inc's chairman sold
$50 million worth of stock in the firm through a prearranged
trading plan just days before shares slid on the unexpected news
the CEO would depart. ()
* Royal Bank of Scotland Group said Chief Executive
Stephen Hester will step down later this year, a move sought by
the lender's board as it seeks to end five tumultuous years of
government ownership. ()
* U.S. regulators are grilling banks over lending standards
and warning them about mounting risks in business loans.
* Facebook Inc is rolling out hashtags on its social
network in an effort to play a greater role in real-time public
conversations dominated by rival Twitter.
* GlaxoSmithKline Plc is investigating allegations
from an anonymous tipster that its sales staff in China was
involved in widespread bribery of doctors to prescribe drugs, in
some cases for unauthorized uses.
* Pfizer Inc and Takeda have reached a
$2.15 billion settlement with Teva and Sun Pharmaceutical for
patent-infringement damages resulting from their launches of
generic Protonix in the U.S.
* Procter & Gamble is reviewing the way it provides
financial forecasts to Wall Street, a move aimed at avoiding
stock-price swings when its numbers don't line up with market
* Clear Channel Communications will start paying
classic rock band Fleetwood Mac a sliver of the broadcaster's
radio-advertising revenue in exchange for the right to use the
band's newest music on the company's online services.
* French authorities placed France Télécom
Chief Executive Stéphane Richard under formal investigation for
his alleged role in an arbitration ruling that gave a financial
award to a prominent French businessman five years ago.
* ESPN is pulling the plug on its ESPN 3D channel by the end
of the year, citing viewers' "low adoption" of the format.