March 22, 2013 / 7:26 AM / in 5 years

PRESS DIGEST - Wall Street Journal - March 22

March 22 (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.

* Cyprus, in an 11th-hour bid to unlock international aid, reopen the nation’s banking system and preserve membership in the euro, readied a plan that would restructure its second-largest lender and enforce unprecedented restrictions on financial transactions. ()

* Blackstone Group LP and General Electric Co’s lending arm have discussed jointly pursuing Dell Inc’s financial-services business, people familiar with the matter said. ()

* Silicon Valley powerhouse Oracle Corp is being challenged anew by small, more focused companies, eroding its core software business at the edges. ()

* U.S. regulators on Thursday warned about the dangers lurking in the booming market for loans to struggling companies, acting to combat concerns over emerging bubbles in parts of the financial sector. ()

* The United States is applying money-laundering rules to “virtual currencies,” amid growing concern that new forms of cash bought on the internet are being used to fund illicit activities. ()

* Rengan Rajaratnam, the younger brother of former hedge-fund titan Raj Rajaratnam, was indicted for alleged insider trading. ()

* FedEx Corp disclosed plans on Thursday to buy up to 30 Boeing Co 757 passenger jets from United Airlines and convert them to carry cargo as part of the freight carrier’s fleet renewal strategy. ()

* Planned furloughs of air-traffic controllers that could cause major disruptions in air travel are sparking a dispute between the Federal Aviation Administration and airlines over how much discretion the agency has in making its sequester cuts. ()

* Julius Genachowski, chairman of the Federal Communications Commission, is set to announce on Friday that he will step down after four years on the job that included a successful challenge to AT&T Inc’s proposed merger with T-Mobile USA, people familiar with the matter said. ()

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