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PRESS DIGEST - Wall Street Journal - July 19
July 19, 2013 / 5:21 AM / in 4 years

PRESS DIGEST - Wall Street Journal - July 19

July 19 (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.

* Detroit filed for federal bankruptcy protection, making the automobile capital and one-time music powerhouse the country’s largest-ever municipal bankruptcy case. ()

* Detroit’s bankruptcy filing will unleash a fierce fight among more than 100,000 creditors over who will get paid-and how much. ()

* Dell is scrambling to save a proposed $24.4 billion buyout, launching an aggressive push to win over investors who have been cool to the deal ahead of a rescheduled vote on July 24. ()

* Microsoft took a $900 million charge on its high-profile Surface RT tablet, contributing to fourth-quarter results that sharply missed revenue and profit expectations. ()

* Google Inc’s profit and sales continued to climb, but deceleration in the growth of its main business of selling search ads reignited concerns about the impact of mobile devices. ()

* Morgan Stanley on Thursday posted better-than-expected second-quarter earnings despite a steep rise in interest rates, and surprised investors with a plan to repurchase company shares for the first time since the financial crisis. ()

* Activist investor Nelson Peltz thinks PepsiCo’s salty snacks go better with the sweet snacks at Mondelez than soda and Gatorade. Wall Street has its doubts. ()

* British investigators recommended temporarily disabling emergency transmitters on Boeing 787 Dreamliners and launching a broad safety review of such devices, after a fire erupted last Friday on an Ethiopian Airlines jet. ()

* Samsung is close to signing deals for its devices with two U.S. government agencies, signs that the South Korean company’s push into the government sector traditionally dominated by BlackBerry is gaining some traction. ()

* Exxon Mobil Corp has agreed to pay a $100,000 penalty and take steps that could cost $20 million to prevent spills of wastewater from gas-drilling operations, settling allegations it violated the Clean Water Act, the Justice Department and Environmental Protection Agency said. ()

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