April 16, 2012 / 7:05 AM / in 6 years

PRESS DIGEST - Wall Street Journal - April 16

April 16 (Reuters) - The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

* Hourly rates for the top quarter of law-firm partners rose 4.9 percent last year, while those for the bottom quarter rose just 1.3 percent, widening the gap in the corporate legal market.

* Opening arguments are expected to begin as soon as Tuesday in the legal showdown between Google and Oracle . Oracle alleges that Google’s Android mobile-phone software infringes on Java patents and copyrights.

* China made one of its strongest moves yet to show that it believes the yuan is ready to become a global currency by loosening daily trading limits.

* Chinese companies are stepping up acquisitions in Japan -- a trend likely to accelerate as it relies on China’s growing wealth to help rebuild Japan’s businesses.

* Carlyle Group plans to sell 30.5 million shares priced between $23 and $25 in its initial public offering, valuing the firm toward the lower end of what had been expected.

* Top European Central Bank official Jörg Asmussen called on the rest of the world to pledge more money to the International Monetary Fund’s crisis war chest, a view expected to put Europe at odds with other regions at talks in Washington later this week.

* The Federal Communications Commission proposed a $25,000 fine on Google accusing the search giant of deliberately obstructing an investigation into whether the company violated federal rules when its street-mapping service collected and stored data from unencrypted Wi-Fi networks in 2010.

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