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PRESS DIGEST - Wall Street Journal - Feb 28
February 28, 2014 / 6:25 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - Feb 28

Feb 28 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

* Federal Reserve Chairwoman Janet Yellen said bad weather might explain the patch of soft economic data making headlines during the past few weeks, but she isn’t quite sure. ()

* Insurers are rushing to gather health information from the new customers they won on public marketplaces in a high-stakes outreach effort crucial to their hopes of profiting from the health-care law. ()

* Sandwich chain Quiznos is preparing to file for bankruptcy-court protection within weeks as it contends with unhappy franchisees and a $570 million debt load, according to people with direct knowledge of the matter. ()

* Wells Fargo said it is cutting another 700 mortgage jobs, as the U.S. home refinancing market continues to cool. ()

* Jos. A. Bank Clothiers Inc rejected Men’s Wearhouse Inc’s $1.8 billion takeover as “inadequate,” but in doing so left open the possibility of ultimately agreeing to a tie-up with its rival. ()

* Freddie Mac reported a record annual profit of $48.7 billion for 2013 on Thursday, powered by a strong rebound in U.S. home prices and a series of legal and accounting benefits that reversed earlier losses. ()

* SunTrust Banks Inc is the subject of an investigation into whether its actions may have resulted in unspecified losses to Fannie Mae the government-controlled mortgage-finance company, according to federal filings and people familiar with the matter. ()

* Venture capitalist Marc Andreessen defended the corporate-governance practices of the technology industry and said he recuses himself from boardroom discussions that could involve companies his firm is backing. ()

* Federal regulators plan to file a legal action against a unit of mortgage-servicing firm Walter Investment Management over alleged violations of consumer financial laws, the company said in a regulatory filing Thursday. ()

* Teens as young as 13 are sometimes shown Facebook ads inappropriate to their age, underscoring Facebook’s challenge in policing a social network with more than a billion users and a million advertisers. ()

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