January 28, 2014 / 5:25 AM / in 4 years

PRESS DIGEST - Wall Street Journal - Jan 28

Jan 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.

* The Obama administration agreed Monday to let technology companies make more information public about how often the government monitors Internet use, a move that aims to ease public distrust and corporate complaints about snooping. ()

* Attempts to send convoys of food and medicine to thousands of people under siege in a rebel-held area of Homs failed Monday, lowering hopes about the regime’s commitment to confidence-building measures coming out of peace talks in Geneva. ()

* Apple reported selling fewer iPhones than projected at year-end and said revenue in the current quarter might decline. The results highlighted new dynamics and intensifying competition in the smartphone market. Apple continues to target the market for high-end phones, even as demand accelerates for lower-cost models, particularly in emerging markets. But Apple is resisting the urge to release a truly low-cost phone that could crimp profitability. ()

* The Securities and Exchange Commission recently released documents related to its probe into the near-collapse of American International Group - with hundreds of redactions to keep information secret. ()

* Bank branch closures in the United States last year hit the highest level on record so far, a sign that sweeping technological advances in mobile and electronic banking are paying off for lenders but leaving some customers behind. ()

* Turkey’s central bank, beset by political instability, tumbling confidence and one of the world’s fastest falling currencies, will convene an emergency meeting Tuesday. ()

* Sergio Ermotti, chief executive of UBS, has a message for the many critics of the Swiss bank and the entire industry: Back off. Ermotti said he is growing frustrated with what he sees as some regulators, politicians, shareholders, clients, journalists and rival banks holding UBS to a higher standard than they hold themselves. ()

* Global derivatives trade group International Swaps and Derivatives Association Inc (ISDA) on Monday disclosed sweeping changes to calculations of a key interest-rate benchmark, part of a plan that will diminish the role played by traders in the process by moving to an automated rate-setting system. ()

* Workers at Ranbaxy’s drug plant in Toansa in the northwestern Indian state of Punjab repeatedly fudged test results to make it appear that raw materials and active pharmaceutical ingredients met required standards, according to FDA inspectors. ()

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