September 17, 2013 / 5:00 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - Sept 17

Sept 17 (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.

* Fed Vice Chairwoman Janet Yellen emerged as the front-runner to become President Obama’s nominee to lead the central bank after Lawrence Summers pulled out of the contest. President Barack Obama hasn’t made a final decision, a senior administration official said. The process for selecting a nominee isn’t starting over, senior administration officials said Monday, and no new candidates have been added to the mix.()

* The White House and its allies said a U.N. report on last month’s chemical attack in Syria added evidence to their view that regime forces fired sarin filled rockets. ()

* JPMorgan Chase is expected to take a big step toward resolving the “London whale” trading fiasco, agreeing to pay at least $800 million in penalties and admit wrongdoing as part of a broad regulatory settlement over its handling of the matter. ()

* Natural gas drillers aren’t leaking as much of a greenhouse gas as the federal government has estimated, according to a new study by researchers at the University of Texas. ()

* The chief executive of LPL Financial created a self-imposed rule: He must respond to any email from one of the firm’s 13,400 financial advisers within two hours, even on weekends and holidays. It is one piece of a much larger effort Casady is making to redeem LPL after a rocky few years that were capped in May by a $7.5 million fine levied on the firm by regulators who cited “systemic” failures in its email system tied to mismanaged growth, the largest-ever such fine. ()

* Investors are increasing the pressure on Barrick Gold to shake up its board and quicken founder Peter Munk’s exit from the world’s largest gold miner, according to people familiar with the matter. ()

* Goldman Sachs Group Inc picked equities executive R. Martin Chavez as its new chief information officer, a month after a software glitch sent waves of errant orders into the stock-options market, roiling prices at exchanges and triggering an internal review. ()

* Pandora Media said it plans to offer 10 million shares and that a stakeholder would offer an additional four million shares. ()

* Bombardier’s CSeries jet made its maiden flight on Monday, a major milestone in the Canadian company’s bid to take on giants Boeing and Airbus in the market for small passenger jets. ()

* Kennametal agreed to buy Allegheny Technologies’ tungsten business for $605 million, a deal that sheds light on an obscure but important part of the metals business. The two western Pennsylvania companies buy scrap and other raw materials and process them into powder coatings, alloys and tools used by manufacturers of everything from mining drills to airplanes. ()

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