October 5, 2012 / 6:30 AM / in 5 years

PRESS DIGEST - Wall Street Journal - Oct 5

Oct 5 (Reuters) - The following are the top stories in the Wall Street Journal on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

* Barry Zubrow, a trusted lieutenant of JPMorgan Chase & Co Chief Executive James Dimon, is expected to give up his job as regulatory affairs chief in what would be the latest reshuffling to follow a multibillion-dollar trading blunder.

* Samsung Electronics Co said Friday it expects a record operating profit for the third quarter, which analysts attributed to stellar sales of the company’s flagship smartphones despite an intensifying global patent battle with Apple Inc

* Huawei Technologies Co Ltd has reached out to investment banks for advice on issuing stock to the public as the Chinese telecom company considers ways to improve its odds of winning big contracts in markets like the U.S.

* Zynga Inc forecast a third-quarter net loss including acquisition charges and lowered its 2012 financial outlook for the second time this year.

* Apollo Global Management, parent of “American Idol” owner Core Media Group, is proposing a merger of Core and Endemol, a Dutch production company whose shows include “Big Brother” and “Deal or No Deal,” say people familiar with the situation.

* Facebook Inc, the social network started by Mark Zuckerberg in his Harvard dorm eight years ago, reached the milestone of one billion monthly active members on Sept. 14.

* A consortium including Exxon Mobil Corp, ConocoPhillips Co and BP Plc said late Wednesday it is moving forward with plans to export natural gas from Alaska’s North Slope in a project that could cost as much as $65 billion.

* AMR Corp’s American Airlines said it will now take several extra days, and perhaps disrupt some flight schedules through the early part of the weekend, to ensure that passenger seats on more than four dozen of its jets are properly secured.

* U.S. officials moved this week to shut down websites owned by Canada Drugs, the Internet pharmacy and drug wholesaler that distributed counterfeit Avastin to U.S. doctors last year, the latest in a crackdown on the international gray market for pharmaceuticals.

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