May 20, 2011 / 5:53 AM / 6 years ago

PRESS DIGEST - Wall Street Journal - May 20

May 20 (Reuters) - The following were the top stories in The Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* Silicon Valley’s technology frenzy burst onto the stock market Thursday as LinkedIn Corp’s shares more than doubled in their first day of trading, setting the stage for debuts from other Internet companies such as Facebook Inc. and Groupon Inc.

* Goldman Sachs Group Inc executives expect to receive subpoenas soon from United States prosecutors seeking more information about the securities firm’s mortgage-related business, according to people familiar with the situation.

* John Malone’s Liberty Media Corp made an offer Thursday to acquire Barnes & Noble Inc for $1.02 billion, a dramatic turn for the nation’s largest bookstore chain-which put itself up for sale last summer but struggled to find a buyer as the outlook for traditional booksellers soured.

* State regulators on Thursday took MetLife Inc to task, saying the insurer used a database that tracked deaths when doing so proved beneficial for one side of the company, but for years didn’t use the same database when doing so could have meant more payouts to families of its life-insurance clients who died.

* The social-networking investing frenzy that sent LinkedIn Corp’s initial public offering soaring is creating a profit bonanza for Wall Street, which is expecting to reap $2.5 billion in fees from IPOs this year, the second-highest figure in more than a decade.

* NBC Sports Group Chairman Dick Ebersol resigned Thursday amid a clash with NBC’s new corporate bosses, ending his storied career at the network, where he transformed the Olympics into NBC’s signature television spectacle.

* Google Inc , Apple Inc and Facebook Inc defended their privacy practices Thursday to lawmakers considering how to update privacy laws to include more protections for Internet users.

* China Foods Ltd , a Hong Kong-listed unit of China state-owned food conglomerate Cofco Ltd, is looking for more overseas acquisitions, according to a company executive.

* A local Comcast Corp cable system temporarily cut funding to a small Washington state nonprofit that tweeted its surprise that the cable giant hired a Federal Communications Commission member as a lobbyist just four months after she voted to approve the company’s deal to acquire NBCUniversal.

* Takeda Pharmaceutical Co said Thursday that it will buy privately held Swiss competitor Nycomed for ?9.6 billion, in its latest high-premium deal to beef up its presence outside a lackluster home market.

* Chrysler Group moved closer Thursday to repaying the U.S. and Canadian governments after raising $7.5 billion in fresh debt.

* German conglomerate Siemens AG (SIEGn.DE) said Thursday that an arbitration court ruled it had not fully met its obligations towards France’s Areva SA CEPFi.PA when it quit their nuclear-power joint venture Areva NP.

* U.S. construction-equipment maker Terex Corp formally launched a $1.3 billion unsolicited offer for German rival Demag Cranes AG D9CGn.DE, the latest deal to test Germany’s tolerance for hostile bids by foreign companies.

* A lawsuit filed against China’s government and online search provider Baidu Inc turned a spotlight on Chinese Internet censorship as Facebook Inc considers entering the market. (Compiled by Isheeta Sanghi; Bangalore Equities Newsdesk +91 80 4135 5800; within U.S. +1 646 223 8780)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below