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PRESS DIGEST - Wall Street Journal - April 17
April 17, 2013 / 6:29 AM / 5 years ago

PRESS DIGEST - Wall Street Journal - April 17

April 17 (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.

* Procter & Gamble Co is planning to add weeks to the amount of time it takes to pay its suppliers, a shift that could free up as much as $2 billion in cash for the consumer products giant, people familiar with the matter said. ()

* Stephen Feinberg and other partners of the private equity firm Cerberus Capital Management LP that put gun manufacturer Freedom Group Inc up for sale after the Newtown, Connecticut school shootings last year are forming a bid for the gun company, although they remain prepared to sell it to a higher bidder, according to people familiar with the matter. ()

* AMR Corp’s American Airlines canceled or delayed at least 1,950 flights after losing access to a key computer system, a hit to the airline’s reputation as it prepares for a complicated merger with US Airways Group Inc that poses the risk of similar disruptions. ()

* The Food and Drug Administration blocked generic versions of the original OxyContin from coming to market late Tuesday, a sign of support that new safeguards with the highly abused pain drug are working. ()

* A healthcare lobbyist, who is a former congressional aide, provided a key tip to a political-intelligence firm about a coming change in government policy. The firm’s subsequent alert to Wall Street clients sparked a surge in trading. ()

* The head of the Federal Aviation Administration gave the clearest public indication yet that regulators and Boeing Co are progressing toward an end to the three-month worldwide grounding of the company’s 787 jet. ()

* Yahoo Inc’s first-quarter profit rose 36 percent, but revenue fell 7 percent from a year earlier as the firm’s core online-advertising business deteriorated. ()

* Intel Corp’s bottom line continued to suffer from the sagging personal computer market in the first quarter, but the numbers and the company’s outlook for the current period were less gloomy than some analysts feared. ()

* Proxy adviser Glass Lewis & Co recommended that MetroPCS Communications Inc shareholders vote in favor of a merger with Deutsche Telekom AG owned T-Mobile USA, shifting course after the terms of the deal were improved. ()

* A Federal Bureau of Investigation raid brought the headquarters of Pilot Flying J, North America’s largest truck-stop chain, to a standstill this week. The investigation appears to be part of a broader probe of rebate payments owed to Pilot’s trucking customers, Chief Executive Jimmy Haslam III said Tuesday. ()

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