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PRESS DIGEST - Wall Street Journal - May 8
May 8, 2014 / 6:05 AM / 4 years ago

PRESS DIGEST - Wall Street Journal - May 8

May 8 (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.

* Vladimir Putin softened his attacks on a presidential election and said his troops had withdrawn from the border, but the United States dismissed the changed tone as insufficient. (r.reuters.com/wyk29v)

* Strains between China and its neighbors burst to the surface in two parts of the South China Sea, taking the high-stakes struggle for control over the waters to new levels of friction. (r.reuters.com/gam29v)

* Libyan investigators pursuing former officials' wealth believe the family of Ali Dabaiba, who ran a state agency under Gadhafi, put some of its money into the high-end London real-estate firm Chesterton Humberts. (r.reuters.com/qam29v)

* Pizza makers are paying serious dough for the seal of approval from a non-profit group founded in Naples, Italy, to "promote and protect ... true Neapolitan pizza." The association's aims are similar to groups that safeguard everything from French sparkling wine to Italian cheese. But the goals differ in that the pizza people say that "true" pizza can come from anywhere as long as it is made according to the "traditional methods" and conforms to an exacting series of standards. (r.reuters.com/ryk29v)

* Fed chief Janet Yellen offered a mostly upbeat economic outlook but signaled that her broad optimism has not altered the central bank's plan to keep short-term interest rates near zero for the foreseeable future. In testimony before Congress's Joint Economic Committee on Wednesday, Yellen said the economy was on track for "solid growth" in the current quarter after a harsh winter, but she held out housing as a potentially more lasting problem. (r.reuters.com/nam29v)

* FedEx Corp is changing the way it charges to ship bulky packages, jolting e-commerce companies with price increases for delivering items as diverse as diapers, shoes and paper towels. Instead of charging by weight alone, all ground packages will now be priced according to size. In effect, that will mean a price increase on more than a third of its U.S. ground shipments. (r.reuters.com/vam29v)

* A bumpy trading environment is tripping up hedge funds. Big stumbles by some star managers drove hedge funds to back-to-back monthly declines for the first time in two years, according to researcher HFR Inc. (r.reuters.com/zam29v)

* Two large consumer debt-buying firms have agreed to halt lawsuits against borrowers and to pay fines under separate settlements with New York's attorney general Eric Schneiderman, who alleged that Portfolio Recovery Associates Inc and Sherman Financial Group violated New York law by seeking court judgments against consumers even when the statute of limitations on the claims had expired. (r.reuters.com/mam29v)

* DirecTV is working with advisers including Goldman Sachs Group Inc to evaluate a possible combination with AT&T Inc , a sign the satellite broadcaster is seriously considering a deal with the telecom giant. (r.reuters.com/tam29v) (Compiled by Supriya Kurane in Bangalore)

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