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PRESS DIGEST - Wall Street Journal - Dec 28
December 28, 2012 / 6:55 AM / 5 years ago

PRESS DIGEST - Wall Street Journal - Dec 28

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.

* As U.S. regulators and Chinese authorities spar over the right to oversee audits of companies in China, U.S. multinational firms like Sanmina Corp could suffer collateral damage. ()

* Consumer expectations about the future turned downbeat in December, suggesting concerns about the fiscal cliff. November new-home sales, meanwhile, rose to their highest level in more than two years. ()

* Wal-Mart Stores Inc is planning to monitor subcontractors’ U.S. warehouses, after protests, fines and lawsuits stemming from complaints of poor worker treatment.()

* Apple Inc Chief Executive Timothy Cook, who topped the list of highest-paid CEOs last year, received significantly less for 2012, taking home just $4.2 million in total compensation. ()

* President Vladimir Putin said he will sign a bill banning U.S. citizens from adopting Russian children, raising tensions with Washington as the Obama Administration is trying to win Moscow’s support to end the war in Syria. ()

* A Boston private equity firm said it is spending more than $2 billion to buy and merge two providers of fiber-optic networks in the Northeast, Mid-Atlantic and Midwest, illustrating renewed investor interest in high-speed networking a decade after the telecommunications bubble burst. ()

* Former hedge fund manager Raj Rajaratnam has agreed to pay $1.45 million to resolve a civil Securities and Exchange Commission lawsuit related to his alleged insider trading based on tips from former Goldman Sachs Group Inc director Rajat Gupta, according to court documents. ()

* Hewlett-Packard Co confirmed that the U.S. Department of Justice is investigating its allegations that Autonomy Corp engaged in accounting improprieties before it was acquired by HP last year. ()

* Porsche Automobil Holding SE won a key legal victory after a New York appeals court panel dismissed a lawsuit by 26 hedge funds seeking more than $1.4 billion in damages stemming from the sports-car maker’s failed attempt to take over Volkswagen AG four years ago.()

* The operator of SeaWorld, Busch Gardens and other theme parks has filed initial paperwork to become publicly traded, three years after a $2.3 billion buyout by private equity group Blackstone Group.()

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