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PRESS DIGEST - Wall Street Journal - Aug 4
August 4, 2014 / 5:05 AM / 3 years ago

PRESS DIGEST - Wall Street Journal - Aug 4

Aug 4 (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.

* Israel announced another temporary truce in Gaza, but the prospects for a more lasting cease-fire remain murky. (on.wsj.com/1s3bfYn)

* At least 381 people were killed and more than 1,800 injured when an magnitude 6.1 earthquake struck a remote part of China's southwestern Yunnan province. (on.wsj.com/1mdRpCz)

* While guns are off the welcome list at chains including Chipotle Mexican Grill Inc, Starbucks Corp, and Sonic Corp, a small but growing number of independent restaurateurs around the country are rolling out the red carpet. (on.wsj.com/UVGRjS)

* Portugal's central bank unveiled a plan to rescue the country's second-largest lender Banco Espirito Santo SA by breaking up the bank and pumping in billions of euros of state money. (on.wsj.com/1uZpL5E)

* A shakeout in junk bonds is drawing only cautious interest from bargain hunters, underscoring fears that many once hot securities could prove hard to sell in an increasingly difficult trading environment. (on.wsj.com/1skRp9x)

* Adding the latest in-vogue deal maneuver to their playbook, activist investors are pressing for overseas mergers that can slice tax bills. In the latest example, Marcato Capital Management LP hired an investment bank to try to drum up interest from U.S. hotel companies that could possibly cut down on their tax bills by buying U.K.-based InterContinental Hotels Group, according to people familiar with the matter. (on.wsj.com/1p3EN5P)

* The euro zone's central bank has been shrinking its holdings of securities and loans-the opposite course taken by the central banks of the United States, Britain and Japan. Those nations now see faster growth and closer to target inflation than the European Central Bank countries. (on.wsj.com/1pyBRgs)

* Chinese stocks extended recent gains, bucking the regional trend as other Asian markets were rattled by news from elsewhere in the world. (on.wsj.com/1ANVkQ6)

* The U.S. government is moving closer to formal rules barring airlines from offering in-flight cellphone calls, though carriers are pressing for the final decision to be left to them. (on.wsj.com/1ANVp6r)

* Despite intense interest from consumers, HBO in the United States so far has no plans to offer an online version of its service to people who are not pay-television subscribers. But overseas, HBO is taking a different tack. The Time Warner Inc unit is now exploring other countries where it could expand its Web-TV service model. (on.wsj.com/1s3sRmP)

* Sales at Michael Kors Holdings Ltd have outpaced competitors for years and its profits have soared. But some on Wall Street worry that the company has expanded too fast and that discounts are rising at department stores. (on.wsj.com/WVmbKI) (Compiled by Rama Venkat Raman in Bangalore; Editing by Biju Dwarakanath)

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