July 21, 2011 / 7:26 AM / 6 years ago

PRESS DIGEST - Wall Street Journal - July 21

July 21 (Reuters) - The following were the top stories in The Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* From closing lackluster branches to moving employees to cheaper cities, U.S. banks and securities firms are intensifying efforts to cut costs as the sluggish economy, weak loan demand and new regulations eat into profits.

* Amid recent multibillion dollar debuts by professional networking site LinkedIn Corp and even bigger offerings expected from videogame maker Zynga Inc and social network Facebook Inc, real-estate site Zillow Inc on Wednesday went public and instantly tripled its value.

* Citadel LLC, a hedge-fund giant still clawing its way back from losses during the 2008-09 financial crisis, pushed E*Trade Financial Corp to explore a possible sale of the company.

* AT&T Inc’s proposed $39 billion acquisition of Deutsche Telekom AG’s (DTEGn.DE) T-Mobile USA ran into headwinds Wednesday as the Federal Communications Commission extended its review of the deal, and a top Senate Democrat on antitrust matters called for the government to block it.

* Sandwich chain Quiznos made its name selling hot subs at premium prices, but a leveraged buyout at the top of the market and the recession helped turn that strategy to toast. Now the company finds itself on the brink of default, also thanks to sour relations with franchise owners, costly rents and stepped-up competition from rivals like Subway. (Compiled by Swetha Gopinath; Bangalore Equities Newsdesk +91 80 4135 5800 within U.S. +1 646 223 8780)

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