September 10, 2013 / 4:26 AM / 5 years ago

PRESS DIGEST-Wall Street Journal - Sept 10

Sept 10 (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.

* President Barack Obama’s campaign for an attack on Syria took an unexpected turn as his administration inadvertently gave the Assad regime a potential way out that spawned second thoughts on Capitol Hill and enthusiasm among international opponents of a military strike. ()

* Carl Icahn tried with all his might, but couldn’t break the $24.8 billion buyout of Dell Inc. On Monday, the activist investor announced he wouldn’t take further actions to block the buyout, moving the deal on the edge of passing at a scheduled shareholder vote on Thursday. ()

* Koch Industries Inc known for concentrating on such unglamorous industries as oil refining, chemicals and fertilizer, has a new role: supplying electronic parts to Apple Inc. The Wichita, Kansas-based conglomerate, owned by billionaire brothers Charles and David Koch, on Monday announced an agreement to pay $7.2 billion, or $38.50 a share, for Molex Inc. ()

* Neiman Marcus Inc’s private-equity owners got the outcome they desired when they found a buyer to pay $6 billion for the luxury retail chain. They just wish it had come a few years earlier. Under terms of the deal announced Monday, TPG and Warburg Pincus LLC are poised to more than double the amount of cash they put in when they bought Neiman in 2005, people familiar with the matter said. ()

* A federal judge in California ruled last week that clothing retailer Abercrombie & Fitch Co discriminated against a Muslim employee on religious grounds, the U.S. Equal Employment Opportunity Commission said Monday. The lawsuit was filed by the EEOC in 2011 on behalf of Umme-Hani Khan, a Muslim who was fired in February 2010 because her head scarf didn’t conform to the company’s dress code called its “Look Policy.” ()

* The battle over hydraulic fracturing is heating up in California - and broadening to include what California regulators contend has been undisclosed oil-well fracking off the Pacific Coast. The California Coastal Commission, which is charged with overseeing development along the state’s coastline and in its waters, said it found out only recently offshore fracking had occurred from oil platforms overseen by the federal government. The state agency has launched a probe into the practice. ()

* In a development that is sending ripples throughout the corporate-bond market, Verizon Communications Inc is expected to raise $20 billion or more on Wednesday in what would be the largest-ever debt sale by a company. The New York telecommunications company will sell debt ranging in maturity from three to 30 years, the banks backing the deal said Monday. ()

* Brazil’s OGX Petróleo e Gás Participações SA has tapped lawyers at Davis Polk & Wardwell LLP to represent it in talks with creditors, according to people familiar with the situation. The hire comes as Brazilian businessman Eike Batista tries to manage a split that is pitting him, a controlling shareholder, against the oil firm’s managers. ()

* Google Inc offered to make further concessions to European Union regulators to settle a nearly three-year antitrust probe and avert a possible multibillion-dollar fine. The European Commission, the EU’s competition watchdog, was analyzing the proposals and if they are satisfactory, a deal could be reached in the coming months, an EU spokesman said on Monday. Google’s proposal wasn’t made public. ()

* Chinese authorities said that social-media users who post comments considered to be slanderous could face prison if the posts attract wide attention - a ruling free-speech advocates criticized as an attempt to give legal backing to the suppression of online dissent. ()

* UK cable operator Virgin Media Inc said it will make Netflix Inc available to some of its subscribers through their set-top boxes, making Virgin the first major pay-TV operator to integrate the streaming-video outlet into its service. ()

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